Buy ITC with 6-12-month horizon: Rahul Shah
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Last Updated: Feb 15, 2021, 08:09 AM IST
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If you are a long-term investor, there is a lot of value in the company at the current market price, says VP-Equity Advisory, Motilal Oswal Financial Services
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Ancillary space should do much better than the auto cos in the next couple of months. In the auto ancillary space,
Ceat among tyre companies are good, says
ITC numbers? Does it merit this cool off on the stock?
ITC has been a laggard for quite some time and recently started moving up. The Q3 results were in line with our estimates in terms of profit as well on the EBITDA front and obviously the payout policy has been robust as it was last year also.
On Axis Bank numbers
In terms of profitability, the numbers were lower than what we anticipated but in banks, the key number to look at is pro forma, GNPA numbers and restructuring. Those numbers have largely been in line and restructuring has been lower than what we had anticipated. What we have seen for most of the tier I banks is that the pro forma, GNPA numbers have been in line with expectation. We have seen a good amount of rally in most of the tier I banking stocks, and that is why some cool-off is happening now. But structurally, all tier I banks look quite attractive to us.
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