ITC share price to skyrocket 47 pct in one year; Is this a share to buy? Check what experts say
ITC clocked in-line performance, with no deceleration against the first quarter (most consumer cos were impacted by slowdown and floods).
ITC clocked in-line performance, with no deceleration against the first quarter (most consumer cos were impacted by slowdown and floods). Its cigarette revenue, volume and EBIT growth have been steady. It's FMCG and Hotels numbers have outperformed the industry. ITC’s earnings growth (ex-corp tax benefits) of 10 per cent has been steady over the last 8 quarters, still, stock has been de-rated. Stock market experts believe de-rating is unwarranted when the company is consistently showing quality earnings. So, on account of strong fundamentals and technicals, stock market experts are highly bullish and advising share market investors to buy ITC shares for the target of Rs 368 in the long-term perspective.
On the suggestion to the stock market investors in regard to ITC share price Naveen Trivedi, Research Analyst at HDFC Securities, "The ITC share price is poised to show an upside movement in both mid-term and long-term perspective. I suggest share investors to take buy position in the counter for the target of Rs 368 in long-term perspective means in around one year."
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Standing in sync with HDFC Securities views Prakash Pandey, MD & CEO at Plutus Advisors said, "The ITC share price is strong from both fundamnetal and technical angles. It can show Rs 320 per stock levels in mid-term perspective means 3-6 months. I suggest investors to take buy position in the ITC shares but they must stop loss at Rs 225." After the Diwali Muhurat Trading yesterday, the ITC share price closed at Rs 250.60 per stock levels.