ITC share price tanks nearly 2% today despite 23% rise in Q4 profit; Should you buy, sell or hold ITC stock-
时间:2024-09-29 02:28:08 阅读(143)
ITC share price tanked 1.83% to Rs 411.95 today on profit booking after the cigarettes-to-hotels conglomerate posted a profit rise of 23.4% on-year to Rs 5,175.48 crore for the quarter ended March 2023, as against Rs 4,195.69 crore during the same quarter last year. The company’s board also recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share of face value of Re 1 each for the financial year ended March 2023. ITC shares have jumped 21% in the past 6 months and over 50% in the last one year.Stock Call: Should you buy, sell or hold ITC shares?HDFC Securities: Add – Target Price: Rs 395 (4% downside)
“ITC continues to outperform other FMCG peers; however, the recent stock run-up (~50% in LTM) limits further rerating potential. We maintain our estimates and value ITC on a SoTP basis to derive a target price of Rs 395. The implied target P/E is 22x Mar-25E EPS. Maintain ADD,” said analysts at HDFC Securities.
Motilal Oswal: Buy – Target Price: Rs 485 (17.7% upside)“The key challenges for ITC – an extremely punitive tax regime of the past, Covid-related disruption and commodity cost inflation – now seem to be receding. We maintain a BUY rating with a target price of Rs 485,” said analysts at Motilal Oswal.
Elara Securities: Accumulate – Target Price: Rs 473 (14.8% upside)“We reiterate accumulate with a higher target of Rs 473 from Rs 438 on SoTP, valuing the cigarettes business at 22x FY25E P/E and the FMCG business at 6x FY25E price/sales. ITC is better placed in the near term, given the high dividend yield (~4%) and double-digit growth in cigarette volumes, in the near-term,” said analysts at Elara Securities.
Kotak: Add – Fair Value: Rs 450 (9.2% upside)“ITC is on track to deliver DD revenue and EBIT growth in cigarettes in FY2024E, given the stable tax regime and demand environment. We roll over and revise FV to Rs 450 (from Rs 430),” said analysts at Kotak Institutional Equities.
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