ITC a good stock to put your money during turmoil in market: Nitin Raheja

In a chat with ET Now, Nitin Raheja, CIO, AQF Advisors, shares his views on ITC.

ET Now: What is your take on ITC? Again, it is the cigarette volumes which have done the trick.

Nitin Raheja: ITC is one of those classic defensives which every time the market is in turmoil, people turn to and cigarettes have over a period of time shown their resilience to price rises. You have short term phenomena where volume dips immediately after a price increase and then things once again start settling down or you have short end on cigarettes. So it is clearly one of those plays where you go and park your money whenever there is turmoil in the market or you want to run away from the aggressive sectors.