Clarity on cigarette taxation boosts ITC, and other stocks like Godfrey Philips India and VST Industries.
In an interview to CNBC-TV18, Abneesh Roy, Senior Vice President of Edelweiss Securities shared his views on the whole new goods and services tax (GST) on ITC.
“We are quite positive on ITC, it remains our top pick in the largecap fast moving consumer goods (FMCG) space,” he said.
It has higher predictability in earnings post GST now, he believes.
He sees ITC pricing its products much more aggressively in the market in 64mm category because of additional excise duty not being there.
ITC will gain market from illegal cigarettes and see volume growth, he added.
For full interview, watch video...
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