ITC Q2 results get a thumbs up from Dalal Street

Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]

ITC Q2 hit by steep hike in tax load after GST implementation

ITC Ltd said its performance during the second quarter was relatively subdued due to “severe pressure” on the cigarette industry and sluggish demand conditions prevailing in the FMCG industry. Operating conditions in the Agri Business and Hotels Segment also remained challenging, it said. On a comparable basis, Gross Sales Value’ stood at Rs 16,391.58 crores […]