Budget Impact and Analyst Ratings
In the recent budget announcement, there was no increase in taxes on tobacco products, which has led to a surge in ITC stock purchases. This decision is positively impacting ITC’s market performance.
Analyst Insights:
- Jefferies: Provides a “Buy” rating for ITC shares with a target price of ₹585 per share.
- Motilal Oswal Financial Services: Chandan Taparia believes the stock could rise to ₹545.
This stability in tax rates is seen as a favorable development for ITC, and analysts are optimistic about its potential for growth.
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