Cigarette Business Trades At 7% Discount to Philip Morris
On Wednesday, it was noted that the Credit Suisse has maintained top rating on ITC. Believing the firm, company is trading at a very large discount to other Indian consumer staples.
Recently, the company’s discount over Hindustan Unilever is at 50 percent. This is said to be the highest discount in a decade.
On the other side, the company’s cigarette business trades at 7 percent discount to a global company Philip Morris.
Experts believe that its earnings are likely to grow in double digits over FY18-20.
On the BSE, at 13:30 hrs ITC was quoting at Rs 263.65, down Rs 2.55, or 0.96 percent.
The share touched its 52-week high Rs 353.20 and 52-week low Rs 250.35 on 03 July, 2017 and 15 November, 2017, respectively.
At present, it is trading 25.38 percent below its 52-week high and 5.27 percent above its 52-week low.