Buy ITC, target price Rs 298: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on ITC with a target price of Rs 298. The current market price of ITC Ltd. is Rs 284.35. 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 350411.78 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-2022.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 18252.64 Crore, down -2.85 % from last quarter Total Income of Rs 18787.72 Crore and up 22.32 % from last year same quarter Total Income of Rs 14921.76 Crore. Company reported net profit after tax of Rs 4259.68 Crore in latest quarter.

Investment Rationale
Forming Bullish candles from the last 5 months with price volume, breakout on weekly and daily frame

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.