Tuesday, December 7, 2021
HomeeconomicsBuy ITC, target price Rs 272: HDFC Securities : Shivpurinews.in

Buy ITC, target price Rs 272: HDFC Securities : Shivpurinews.in

- Advertisement -

HDFC Securities has buy call on with a target price of Rs 272. The current market price of ITC Ltd. is Rs 231.9 Time period given by analyst is one year when ITC Ltd. price can reach defined target.

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 285338.76 Crore) operating in Tobacco sector.

ITC Ltd. key Products/Revenue Segments include Packaged Food Item, Agricultural Products, Paper & Paper Boards, Others, Service (Hotel), Tobacco Unmanufactured, Printed Materials, Other Operating Revenue for the year ending 31-Mar-2020.

Financials

For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 15313.15 Crore, up 4.26 % from last quarter Total Income of Rs 14687.80 Crore and up 11.53 % from last year same quarter Total Income of Rs 13730.06 Crore. Company reported net profit after tax of Rs 3763.73 Crore in latest quarter.

Investment Rationale
Strong recovery in cigarettes business, focus on profitable growth in FMCG business – With resumption of normalcy and higher mobility, the brokerage expects demand trends to improve to achieve cigarette recovery. A gradual FMCG business turnaround with improving profitability remains another important catalyst for stock outperformance over the medium term.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.59 per cent, DIIs 40.94 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

Source link

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

%d bloggers like this: