ITC is trading higher by around 3% at Rs 293 after falling 7.3% in past six trading days on back of heavy volumes.
The stock opened at Rs 287 and hit a high of Rs 295 on NSE. A combined 5.33 million shares already changed hands on the counter till 1325 hours against an average sub 6.5 million shares that were traded daily in past two weeks on NSE and BSE.
Analyst believes ITC, the country's biggest cigarette maker, would witness a recovery in cigarette volume growth during the recently concluded quarter.
“The company is expected to record about 1% volume growth in cigarettes during 4QFY13,” says analyst at Antique Stock Broking.
The improvement in volume growth is expected to arise from some recovery in the regular filter segment and the launch of the 64mm cigarettes, he added.
Analyst at Karvy Stock Broking believe, ITC to report 15.5% year-on-year (yoy) growth in net profit at Rs 1,865 crore, while its EBITDA margin would improved by 85 basis points to 33.4% on yoy basis.
Meanwhile, shares in ITC are trading at 30.79 times 12-month forward earnings as per Bloomberg data, compared with 31.57 times for Hindustan Unilever, 31.96 times of Dabur India and 38.65 times for Asian Paints.
The stock opened at Rs 287 and hit a high of Rs 295 on NSE. A combined 5.33 million shares already changed hands on the counter till 1325 hours against an average sub 6.5 million shares that were traded daily in past two weeks on NSE and BSE.
Analyst believes ITC, the country's biggest cigarette maker, would witness a recovery in cigarette volume growth during the recently concluded quarter.
“The company is expected to record about 1% volume growth in cigarettes during 4QFY13,” says analyst at Antique Stock Broking.
The improvement in volume growth is expected to arise from some recovery in the regular filter segment and the launch of the 64mm cigarettes, he added.
Analyst at Karvy Stock Broking believe, ITC to report 15.5% year-on-year (yoy) growth in net profit at Rs 1,865 crore, while its EBITDA margin would improved by 85 basis points to 33.4% on yoy basis.
Meanwhile, shares in ITC are trading at 30.79 times 12-month forward earnings as per Bloomberg data, compared with 31.57 times for Hindustan Unilever, 31.96 times of Dabur India and 38.65 times for Asian Paints.
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