Buy ITC, target price Rs 271: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on ITC with a target price of Rs 271. The current market price of ITC Ltd. is Rs 258.65. Time period given by analyst is Intra Day when ITC Ltd. price can reach defined target.

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 318679.40 Crore) operating in Tobacco sector.

ITC Ltd. key Products/Revenue Segments include Packaged Food Item, Agricultural Products, Paper & Paper Boards, Others, Tobacco Unmanufactured, Service (Hotel), Printed Materials, Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 18787.72 Crore, up 22.69 % from last quarter Total Income of Rs 15313.15 Crore and up 28.07 % from last year same quarter Total Income of Rs 14670.17 Crore. Company reported net profit after tax of Rs 4118.80 Crore in latest quarter.

Investment Rationale
Taking support from its 50 DMA and negated lower low of the last three sessions with relative strength.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 14.51 per cent, DIIs 40.26 per cent.