Anand Rathi has given Buy recommendation for ITC with a target price of Rs. 285 in its research report issued on Jun 07, 2021
Anand Rathi’s research report on ITC
ITC Limited (ITC) total income in 4QFY21 stood at Rs. 143,422.7 million, grew by 21.7% from Rs. 117,821.6 million in 4QFY21. Revenue increase was mainly due to strong sequential recovery across all operating segments. As per management rural markets continued to grow ahead of urban/metro. Even as we are facing the second Covid wave, the company believes there are no material supply chain constraints as it has learned to deal with the situation.
As economic activities pick up pace, we expect growth prospects to improve across all of ITC’s verticals in the months ahead. However, pace of pickup in volumes and demand remains crucial. Keeping an optimistic outlook on the company’s performance, we reiterate our BUY rating on the stock with a target price of Rs. 285 based on SOTP valuation.