Buy ITC for Rs 240 target: Karvy Stock Broking
Although it has performed well in the recent past, we are still having a price factor of Rs 240-250.
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| In a chat with ET Now, Ambareesh Baliga, VP, Karvy Stock Broking Ltd., shares his views on the outlook of FMCG stocks.
FMCG stocks like ITC, Colgate, Proctor and Gamble seem to be shining today. Are there any outperformers that you come away with?
Outperformers may not be because when the markets are extremely bullish, you really may not be towards outperformance in the FMCG sector but among them, surely ITC is one stock which we are looking for a longer term perspective. Although it has performed well in the recent past, we are still having a price factor of Rs 240-250. So at the current juncture around Rs 173-174, it could be bought from that perspective.
FMCG stocks like ITC, Colgate, Proctor and Gamble seem to be shining today. Are there any outperformers that you come away with?
Outperformers may not be because when the markets are extremely bullish, you really may not be towards outperformance in the FMCG sector but among them, surely ITC is one stock which we are looking for a longer term perspective. Although it has performed well in the recent past, we are still having a price factor of Rs 240-250. So at the current juncture around Rs 173-174, it could be bought from that perspective.
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