Large Cap FMCG Stock Price Likely To Rally On Margin Recovery Prospects, Buy: Nuvama

Leading brokerage firm, Nuvama Institutional Equities has recommended investors to buy FMCG major, ITC Ltd with a target price of Rs 450 apiece ahead of the progress the company has made.

According to the analyst, ITC is expected to witness a rise in margins and profitability in near term and that is expected to make it attractive to investors. If you buy ITC shares now, you can get likely return of 16%. Check details below:

1. ITC Share Price

The current market price of the stock is Rs 389.00 apiece with intraday gain of 1.34%. The stock's 52-week high is Rs 394.00 apiece and 52-week low is Rs 207.00 apiece, respectively. The company has a market capitalisation of Rs 4,83,187.86 crore.

The company also declared its 3rd interim dividend of Rs 6/- Ordinary Share of Re 1/- each on February 3, 2023. The company fixed February 15, 2023 as the record date.

2. ITC Return In Last 5-Years & Financial Performance

The stock gave a return of 15% in just 1-month, 14% in last 3-months, 23% in last 6-months, and 80% in last 1-year. It soared 87% in last 3-years and 44% in last 5-years.

The company for the quarter ended December 31, 2023 declared a consolidated total income of Rs 18,299.95 crore, down 4.00% from last quarter total income of Rs 19,062.68 crore.

The operating profit of ITC surged 20% to Rs 6704.7 crore while margin declared at 35.2%.

3. ITC About

Established in 1910, ITC Limited is a diversified conglomerate with businesses spanning Fast Moving Consumer Goods comprising Foods, Personal Care, Cigarettes and Cigars, Education & Stationery Products, Incense Sticks and Safety Matches; Hotels, Paperboards and Packaging, Agri Business and Information Technology, etc.

Disclaimer

The stock has been picked from the brokerage report of Nuvama Institutional Equities. 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.