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    Buy ITC, target price Rs 405: ICICI Direct

    Synopsis

    ITC, incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 421087.58 Crore) operating in Tobacco sector.

    ITCETMarkets.com
    The company has been gaining market share in cigarettes.
    ICICI Direct has buy call on ITC with a target price of Rs 405. The current market price of ITC is Rs 346.

    ITC, incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 421087.58 Crore) operating in Tobacco sector.

    ITC key Products/Revenue Segments include Packaged Food Item, Agricultural Products, Paper & Paper Boards, Others, Tobacco Unmanufactured, Service (Hotel), Printed Materials, Other Operating Revenue for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 19062.68 Crore, up 1.34 % from last quarter Total Income of Rs 18810.18 Crore and up 24.49 % from last year same quarter Total Income of Rs 15313.15 Crore. Company has reported net profit after tax of Rs 4670.32 Crore in latest quarter.

    The company’s top management includes Mr.Sanjiv Puri, Mr.Shyamal Mukherjee, Mr.Mukesh Gupta, Mr.Navneet Doda, Mr.Sunil Panray, Mr.Hemant Bhargava, Ms.Nirupama Rao, Ms.Meera Shankar, Mr.Arun Duggal, Mr.Shilabhadra Banerjee, Mr.David Robert Simpson, Mr.Ajit Kumar Seth, Mr.Anand Nayak, Mr.Sumant Bhargavan, Mr.Nakul Anand, Mr.Supratim Dutta. Company has S R B C & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 1,241 Crore shares outstanding.

    Investment Rationale
    Stable taxation on cigarettes is expected to maintain current volumes run rate. The company has been gaining market share in cigarettes.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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