The current chart formation is akin to 2011, provided ITC ends August on a positive note. Post which, the stock can potentially double from current levels.
Analysts believe ITC would be able to continue to grow in high single digit in cigarettes & log a double-digit growth in all the other segments going forward.
The company had fixed July 22, 2022 as the record date for the purpose of sub-division of every 1 equity share of the face value of Rs 10 each into 5 equity shares of the face value of Rs 2 each.
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Shares of Hindustan Unilever are exhibiting a major breakout, whereas Dabur India and Marico are not exhibiting much of a promise on the charts.
A stable tax environment for cigarettes in recent years has allowed ITC to calibrate price increases to avoid a disruption in demand.
CLOSING BELL: Beaten down PSB, Metal, and Energy (Oil and Gas) indices rose the most in today's trade. Related indices advanced between 4 per cent and 4.5 per cent
Motilal Oswal Financial Services (MOSL) upgraded rating on the stock to 'Buy' with a price target price of Rs 335 per share.
ITC said the dividend will be paid between July 22, 2022 and July 26, 2022 to entitled members.
Though ITC is 40 points short from its all-time high of Rs 315.25-mark, the present scenario on the daily and weekly charts point to a strong up move
ITC is better-placed than peers with improving cigarette performance and strong earnings visibility, analysts.
ITC will announce its Q4 results and declare final dividend on May 18, 2022.
The company delivered robust top-line growth of 15 per cent and a mid-single digit volume growth in March quarter (Q4FY22).
While analysts see near-term margin compression, on expected lines, due to rise in commodity prices, they believe HUL is relatively better placed to fight the inflation woes.
Palm oil is used in products like cooking oil, processed foods, cosmetics and biofuels.
Analysts expect the maggi maker to report muted profit in the March quarter 2022 due to sluggish rural demand sentiment and input cost inflation.
Analysts attribute the poor showing by FMCG and auto stocks to a combination of demand slowdown and rising input costs
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Instead of a recovery in gross margins in fiscal 2022-23 (FY23), Jefferies now builds-in 50-200 basis point (bps) YoY decline, assuming crude stays closer to $100 a barrel and palm oil at $1,500/MT