ICICI Direct has given Hold recommendation for VST Industries with a target price of Rs. 3850 in its research report issued on Jul 28, 2021

ICICI Direct’s research report on VST Industries

VST Industries (VST) is among the oldest cigarette company in India, involved in manufacturing and marketing of cigarettes and also trading unmanufactured tobacco. Incorporated in 1930, it is an associate undertaking of British American Tobacco (BAT), the global leader in cigarettes. VST has two cigarettes manufacturing facilities in Hyderabad, AP. It has five major brands, including, ‘Total’, ‘Charms’, ‘Moment’, ‘Special’, and ‘Edition’. It has a direct distribution reach of over 1.1 million retail outlets


We continue to maintain our HOLD rating on the stock We value the stock at Rs 3850, valuing the business at 15x FY24 earnings



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