BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Edelweiss downgrades ITC to hold
Edelweiss has downgraded ITC to hold for a target price of Rs 325. It says in a negative surprise, the GST Council on Monday stepped in to check the windfall being reaped by cigarette manufacturers and increased effective tax under GST by 10-11% which will result in MRP increase of 8-9%. Edelweiss added that with 6% hike in the Budget 2017-18 amounts to 16-17% total hike in taxes for FY18.