BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains buy on ITC
ITC's cigarette volume growth at 3 per cent was better than expectation. We believe current valuation at 25 times FY18 estimated earnings seem fair given a 12.6 per cent earnings CAGR expectation over FY16 to FY19 and 40 per cent return on capital profile.