Buy ITC, target price Rs 575: Motilal Oswal

Motilal Oswal Financial Services has buy call on ITC with a target price of Rs 575. The current market price of ITC Ltd. is Rs 494.85.

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 620053.69 Crore) operating in Tobacco sector.

ITC Ltd. key Products/Revenue Segments include Packaged Food Item, Paper & Paper Boards, Agricultural Products, Others, Service (Hotel), Tobacco Unmanufactured, Printed Materials, Other Operating Revenue for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 19152.21 Crore, up 2.93 % from last quarter Total Income of Rs 18606.53 Crore and up 7.07 % from last year same quarter Total Income of Rs 17886.76 Crore. Company reported net profit after tax of Rs 5169.37 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2024, while FIIs owned 40.47 per cent, DIIs 33.5 per cent.