Budget 2021 Stocks With Anil Singhvi – ITC share is a top BUY says expert Sudip Bandyopadhyay; Gives major triggers
Top Stock to Buy with Anil Singhvi – ITC share: Which is the Budget 2021 stock that will suit your Budget and will also do well till the budget and even after it? In today’s edition of Budget 2021 Stock Picks with Zee Business Managing Editor Anil Singhvi, Market Expert Sudip Bandyopadhyay brings a stock from tobacco and FMCG space. Know why ITC share is a top buy for this expert:
Top Budget 2021 Stock to Buy – ITC share
This analyst said that ITC Limited stock has not had a good run for more than 2 years now. It has been stuck in a range. There is a lot of expectation from this stock. The strong point about this counter is that the tobacco business is its mainstay.
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The lion share of ITC's revenues come from the tobacco business while 80 per cent of its profits are accounted from the tobacco business, Bandyopadhyay said. The cash flow from the tobacco business will continue to support ITC's other businesses, going forward, he said.
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ITC Limited – FMCG Business outlook
He said that the Fast-Moving Consumer Goods (FMCG) segment is a robust business for ITC and it has been getting strong tractions across the segments amid the pandemic situation. It will continue to flourish in the days ahead, he opined.
ITC stock is currently trading around Rs 216. He puts the ITC share target price at Rs 250. He has a 12-month view on this stock.
One of the major triggers for ITC stock will be the possibility of value unlocking, the expert said. This value unlocking can happen over the next 1-1.5 years, he further said. The investors should keep this aspect in mind, he concluded.
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