ITC - SET FOR BIG GAINS WHEN SMOKE CLEARS ?

ITC - set for big gains when smoke clears?
ITC has been a laggard in a raging bull market, It quotes at P/E of 15 on FY24 earnings, despite dividend yield of 4.4%. Whereas its FMCG peers quote at multiples of 40-50 times.
Concern about more taxes and harsh regulations kept the stock down. Now most brokerages are turning bullish, with price target ranging from Rs300- Rs400! What has changed?
No hike in tax rate on cigarettes despite and volumes recovering to pre-Covid levels. It is cash machine for the company.
Non-cigarette FMCG business revenue growth is strong and ITC is scaling up personal care and biscuits rapidly.
ITC is also second largest hotel chain owner, seeing guests and money coming back.
No wonder, ITC is trending amongst investors.

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[Rajmal]

Kya Hamen Hindustan copper kharidna chahie abhi is time