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In fact, when it comes to the theory that vinyl record players produce a distinct sound that cannot be achieved through digital technology, science backs things up. It’s a nigh-on biblical experience.īut there is more to the notion than simply feeling it in your bones. Sure, iPhones and Spotify have become the norm for music lovers across the globe, but for the true audiophile, there’s nothing better than a good vinyl, laid on on the best record player in your arsenal. With a promising outlook and trust in the stock’s resilience in the current market volatility, we reiterate our BUY rating with rolled forward target price of Rs 352 using SOTP valuation.Have you ever sat down and listened to a vinyl record? Like, really listened? It just has this clear, crisp warmth to it that can’t be emulated by digital technology. ITC continues to focus on investment in cutting-edge technology by accelerating digital presence. We also expect leisure, FMCG, PPP, and agri-businesses to deliver strong performance by leveraging strong customer relationships. We expect a good festival season ahead which will lead to a pick-up in consumption expenditure.
Geojit in a post earnings report said, "ITC delivered a strong operational and financial performance across business segments despite the ongoing challenges, including high inflation. The KR Choksey analyst assigned a 'Buy' rating to the ITC stock with a new target price of Rs 369 apiece compared to the earlier target of Rs 325 apiece. Paperboards, paper and packaging growth (plus 43.3% YoY) was due to strong demand across end-user segments and exports." Agri growth (plus 82.3% YoY) was led by wheat, rice, and leaf tobacco exports.
Hotels grew on a low base (plus 334.4% YoY) driven by ARR and occupancy being ahead of pre-pandemic levels. FMCG- Others growth (plus 19.5% YoY) was driven by Out-of-home categories including snacks, beverages, confectionery, frozen Snacks, fragrances, and agarbattis, while staples were resilient. On segment-wise, Kashyap said in the note, "Cigarettes growth (plus 28.6% YoY) was supported by stable taxation and subsequent gain of business from illicit trade. ITC delivered strong growth across segments."
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In corporate India’s Q1FY23 post-earnings review report, KR Choksey lead analyst Vikrant Kashyap said, "ITC had a strong quarter with revenue of Rs 1,98,313 million (plus 39.3% YoY/ plus 11.7% QoQ/ plus 16.0% vs. A dip near Rs 285- Rs 290 can be great buying levels for target of Rs 360 in the coming months." Currently, the stock is overbought and investors should be booking profits at current levels. "Amid a mostly muted 8 months in 2022, ITC amongst all the Nifty stocks has been the steadiest performer with stellar returns thus far. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades We believe that the company will be able to get the fruits of one of the leadership positions in many of its products with a cheaper valuation which will lead to the target of Rs 364 (19.7X FY25 EPS).” The market has not taken cognizance of the fact that ITC’s FY24 EBIT of Rs 24,613.5 crore is expected to be more than 1.6X that of HUL (which is the 2nd most profitable listed consumer player) and equal to the combined EBIT of the next 4 players. The agri-commodity business prospects have sharply improved post the Ukraine invasion and the IT vertical is expected to continue its strong double-digit revenue growth with top percentile margins. “With buoyancy in tax collections, the stress on rising cigarette taxation is diminished and should help drive cigarette volume growth. Vinit Bolinjkar, Head of Research, Ventura Securities MACD (Moving average convergence divergence) supports the current strength whereas momentum indicator RSI (relative strength index) is also positively poised.” On the upside, Rs 350 is facing the susceptible area, above this, one can expect the level of Rs 500 plus in the extended timeframe. The overall structure is remunerative as it trades above its all-important moving averages. It is moving in the upward sloping channel for a longer time frame. Santosh Meena, Head of Research, Swastika Investmart Here’s a look at what they said on the prospects of the stock. With broader market recovering losses amid a volatile trade environment, analysts have turned bullish on the stock of cigarette-to-hotel conglomerate in the long term. The idea is to integrate digital and sustainability to create disruptive business models in a bid to generate enduring value for stakeholders, Puri said.ĪLSO READ: ITC: The Making of an FMCG Behemoth Chairman Sanjiv Puri outlined the firm's 'ITC Next' strategy, emphasising its next horizon of growth at the company's 110th annual general meeting (AGM) last month.
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