FMCG ITC

Post Q2 results, most brokerages have either recommended a 'buy' and an 'accumulate' rating on ITC with target prices in the range of Rs 365 to Rs 405

In Q2FY23, ITC is expected to witness strong growth across segments considering lower sales in the base quarter of cigarettes, hotels & agri business.

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

At 09:30 am, with a market cap of Rs 4.31 trillion, Adani Enterprises stood at 12th position in overall market cap ranking on the BSE.

FMCG sales in August grew by 6.3 per cent sequentially, according to the latest data from Bizom. Sales had been declining for the previous three months

ITC launched 110 products in FY22 to mark its capacity for innovation, he says

ITC Chairman and Managing Director Sanjiv Puri's three years in charge have seen structural shifts that steadied the cigarettes to hotels major against a tough business environment

Consolidated revenue from operations rose 14% to Rs 17,554 crore as against Rs 15,404 crore in Q4FY21

ITC stock outperforms peers in March

ITC stock has finally started to move. If analysts are to be believed, there is more headroom in this counter. Here's a quick check on how fundamental analysts see ITC do over the next few months

In comparison, the S&P BSE Sensex and the S&P BSE FMCG index were up 1.6 per cent and 0.6 per cent, respectively, in the past one month

The stock had corrected 20 per cent from its 52-week high of Rs 265.30 touched on October 10, 2021, amid fears of higher taxes.

Though ITC is well-covered by consensus, whether it is well-understood has always remained a question, analysts believe

Mother Sparsh said that it is raising Rs 20 crore in Series A funding from ITC. Company plans to deploy the funds towards enhancement of its R&D capabilities, digital capabilities

According to analysts, ITC is likely to post a strong show in Q1FY22, helped by a low base and recovery in cigarettes sales.

Earlier, on February 4, 2021, the stock had seen intra-day rally of 6.8 per cent, while it touched a 52-week high of Rs 239.15 on February 9, 2021

With today's decline, the stock of ITC has slipped 8 per cent from its 52-week high level of Rs 239

The stock jumped 4 per cent in Friday's intra-day trade to hit 52-week high of Rs 239 on the BSE

ITC's FMCG business is expected to continue its growth momentum with higher growth in packaged foods categories, brokerages believe

Since November, the stock has outperformed the market by surging 28 per cent, as compared to 22 per cent rally in the S&P BSE Sensex, till Tuesday

On year-to-date (YTD), basis, ITC has slipped nearly 24 per cent. In comparison, the Nifty FMCG index has gained 2 per cent, while the Nifty 50 has slipped 5.3 per cent during this period