It's a good time to buy ITC: Ambareesh Baliga

Ambareesh Baliga, VP, Karvy Stock Broking Ltd in a chat with ET Now talks about ITC.

Do you think its a good time to buy ITC, given the uptick in excise dutyand the extent in hike not being known or would you rather stay away?

No. I would surely utilise this to buy. Firstly, whatever the increase in excise, in spite of so many advertisements trying to dissuade people from smoking people haven't stopped smoking. I don’t think this sort of excise hike which could be anywhere possibly a rupee for the cigarettes is going to matter too much as far as the smokers are concerned.

Secondly, I don't see ITC as a cigeratte company five years down the line. I think revenues from cigarette would be much lower than what it is right now; it will be more of an agriculture based company going ahead. Looking at the future possibly the next decade, it would be a time to actually get into the agriculture space ITC would surely be one of the best bets at that point of time.