What's cooking in ITC's kitchen that's made analysts bullish on the stock?

Analysts at Jefferies beleive the stock could top the Rs 600-mark, an upside of over 34 per cent from current levels

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Puneet Wadhwa New Delhi

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It has been a dream run for ITC stock in the past one year. The counter has surged 59 per cent as compared to 36 per cent rise in the Nifty FMCG index during this period. On Monday, the stock hit a fresh 52-week high on the NSE at Rs 465.95.

The bull-run in the stock, according to analysts, has been on account of the company's business verticals firing on all cylinders after remaining subdued for almost half a decade.

"ITC had not been growing much in the last 5 years. However, the company has done well in the last one year with all the business verticals gaining traction. Government's status quo on tax w.r.t. cigarettes has also helped. So

First Published: Jul 04 2023 | 10:04 AM IST

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