ITC Stock Trades A 3 Year High | ET Now | Latest News | Business News
43ITC hits the highest level since May 2019; stock soars as % in 6 days. YTD the stock has gained 34%, which is the best start to the year since 2009. In 2009 it gained around 45%.
POSITIVE TRIGGERS
-Stable tax environment for cigarettes
-Better than expected recovery in cigarette (80%+ profits come from cig biz)
-Improving operating metrics of Hotels
- Healthy sales momentum in the FMCG business
- Paperboard demand is likely to be driven by the end-user segment; prices are on a rise
- Better capital allocation in recent years
-4-5% dividend yield makes it a good defensive
Vinnii Motiwala is here with more details
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