FMCG major ITC left investors little to chew on in its March quarter results with the shares falling nearly 1% to Rs 437.85 on BSE during the day but brokerages have raised target prices going up to Rs 540. Global brokerage firm Citi, which has a buy call on ITC, raised its target price to … Read more
The Sword of Damocles hanging over the head of ITC shareholders has finally fallen down but no one is hurt. The key event of London’s British American Tobacco (BAT) stake sale, which was initially perceived to be a key supply hangover for ITC, ended up pushing the Nifty stock 8.6% higher leading to a windfall … Read more
Shares of cigarette-to-hotels major rallied over 6% to hit a 52-week high of Rs 384.4 in Thursday’s trade on BSE after the hike in duty on cigarettes in Budget will have a limited impact. The government has hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall … Read more
It’s this time of the year when one stock – – definitely grabs investors’ attention as expectations build for a possible hike in taxes on tobacco and tobacco products in the run-up to the Union Budget. While taxation of tobacco is primarily under the purview of the GST Council, the central government also levies a … Read more
has surged more than 40 per cent so far in the year 2022 and the rally may not be over amid positive commentary coming from most brokerage firms tracking the diversified FMCG major. The stock rallied from Rs 218 as on 31 December 2021 to Rs 307 on 1 August 2022 which translates into an … Read more
NEW DELHI: Whether you like or not, you can no longer afford to ignore it. Once the butt of all jokes on Twitter and WhatsApp, the cigarette-to-hotels stock has now regained old glory to re-enter the elite top-10 club on Indian stock exchanges. Going by the market capitalisation of all listed companies on BSE, ‘meme … Read more
After frustrating investors on Dalal Street over the last couple of years, shares of FMCG conglomerate have seen a 21 per cent rally in 2022 so far, especially at the time when benchmark indices have seen sharp drawdowns amid fears of Fed rate hikes and heavy FII outflows. Analysts on D-Street have turned bullish on … Read more