Buy This Large-Cap Stock, Hit New 52-Week High Today, For Target Price Of 360: BNP Paribas

BNP Paribas has given buy rating to the stock of ITC Ltd for a target price of RS 360 with a potential surge of with a potential surge of 9% within a period of 1 year. ITC is one of India's foremost private sector companies with a Gross Sales Value of ₹ 90,104 crores and Net Profit of ₹ 15,058 crores (as on 31.03.2022). It is a company with high TTM EPS growth.

ITC Ltd Stock Outlook

The current market price of the stock is Rs 331 apiece with a 52-week high at Rs 333 apiece and 52-week low at Rs 207 apiece. According to BNP Paribas, if you buy the stock now at its current market price it has the potential to surge to Rs 360 with a target period of 1 year to reach the specified level.

ITC Ltd 5 Years Return

The stock has given a return of 21% in 5 years, 34% in 3 years, and 55% in 1 year. 

ITC Q1 Result

Diversified conglomerate ITC Ltd declared a year-on-year consolidated net profit of ₹4,389.76 crore, up 33.97% for the April-June quarter (Q1FY23). It announced a consolidated net profit of ₹3,276.48 crore in the year-ago period. 

Total revenue from operations of the FMCG major increased by 39% to ₹19,831.27 crore from ₹14,240.76 crore during the corresponding period a year ago.

About ITC Ltd

ITC has a diversified presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers and Agri-Business. ITC's aspiration to be an exemplar in sustainability practices is manifest in its status as the only company in the world, of its size and diversity, to be carbon, water and solid waste recycling positive. In addition, ITC's businesses and value chains create sustainable livelihoods for more than 6 million people, a majority of whom represent the poorest in rural India.

Over the last decade, ITC's new Consumer Goods Businesses have established a vibrant portfolio of 25 world- class Indian brands that create and retain value in India. ITC's world class FMCG brands including Aashirvaad, Sunfeast, Yippee!, Bingo!, B Natural, ITC Master Chef, Fabelle, Sunbean, Fiama, Engage, Vivel, Savlon, Classmate, Paperkraft, Mangaldeep, Aim and others have garnered encouraging consumer franchise within a short span of time.

ITC Market Capitalization

The company has a market capitalization of Rs 4,09,646.98 crore. 

ITC Hit New 52-Week High Today

The stock has hit new 52-week high today. The stock opened at 330 and touched the intraday high of 333.35 apiece and intraday low of Rs 330 apiece.

Disclaimer

The stock has been picked from the brokerage report of BNP Paribas. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.