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Buy ITC, target Rs 296: Dharmesh Shah

Buy ITC Ltd. at a price target of Rs 296.0 and a stoploss at Rs 271 from entry point.

ETMarkets.com|
Updated: Nov 06, 2018, 08.42 AM IST
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Dharmesh Shah of ICICI Direct has a buy call on ITC Ltd. with a target price of Rs 296. The current market price of ITC Ltd. is Rs 279.6 Time period given by the analyst is Intra Day when ITC Ltd. price can reach th edefined target. Dharmesh Shah recommended to keep stoploss at Rs 271. ITC Ltd., incorporated in 1910, is a largecap company with a market cap of Rs 342334.20 crore.

ITC Ltd. key Products/Revenue Segments include Cigarettes which contributed Rs 22894.01 Crore to Sales Value (51.64 % of Total Sales), Packaged Food Item which contributed Rs 8668.72 Crore to Sales Value (19.55 % of Total Sales), Paper & Paper Boards which contributed Rs 3221.11 Crore to Sales Value (7.26 % of Total Sales), Agricultural Products which contributed Rs 2855.85 Crore to Sales Value (6.44 % of Total Sales), Others which contributed Rs 2645.66 Crore to Sales Value (5.96 % of Total Sales), Tobacco Unmanufactured which contributed Rs 1696.13 Crore to Sales Value (3.82 % of Total Sales), Service (Hotel) which contributed Rs 1404.10 Crore to Sales Value (3.16 % of Total Sales), Printed Materials which contributed Rs 571.32 Crore to Sales Value (1.28 % of Total Sales), Other Operating Revenue which contributed Rs 372.87 Crore to Sales Value (0.84 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Standalone sales of Rs 10891.23 Crore, up 3.19 % from last quarter Sales of Rs 10554.66 Crore and up 12.56 % from last year same quarter Sales of Rs 9676.20 Crore Company has reported net profit after tax of Rs 2954.67 Crore in latest quarter. The company’s top management includes Mr.Arun Duggal, Mr.David Robert Simpson, Mr.Hemant Bhargava, Mr.John Pulinthanam, Mr.Nakul Anand, Mr.Rajiv Tandon, Mr.Sahibzada Syed Habib-ur-Rehman, Mr.Sanjiv Puri, Mr.Shilabhadra Banerjee, Mr.Sunil Behari Mathur, Mr.Yogesh Chander Deveshwar, Ms.Meera Shankar, Ms.Nirupama Rao. Company has Deloitte Haskins & Sells as its auditoRs As on 30-09-2018, the company has a total of 12,241,914,761 shares outstanding.

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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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