Motilal Oswal upgrades ITC to a buy, sees 27% upside
Updated: 16 Jun 2022, 02:04 PM IST
TL;DR.Motilal Oswal said that the resilient nature of ITC's core business, amid an uncertain environment in the sector, and 4-5 percent dividend yield makes it a good defensive bet in the ongoing volatile interest rate environment.
While valuations of global Tobacco peers have been restored to their pre-pandemic levels (Jan’19), ITC still trades at a 27 percent discount to its Jan’19 valuations of 25.4 times one-year forward EPS, Motilal Oswal said. Photo: Reuters