India Business News: Shares of cigarettes-to-hotel conglomerate ITC Ltd fell nearly 3% on Wednesday, after the company warned that lockdown restrictions could cause disrup
ITC s revenues rise across businesses on low base effect, but Covid poses near-term challenges. The stock is likely to be under pressure in the absence of a trigger even as growth potential remains strong.
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ITC has a dividend yield of more than 5 per cent and its cash flows continue to grow robustly, points out independent market analyst Anand Tandon while stressing that long-term investors need patience. Edited excerpts from an interview:
Many brokerages have increased their price targets on SBI. What is your own sense on how scalable SBI can be in the next one year?
Frankly, if SBI does not perform then the index numbers in terms of earnings has to come down dramatically. Much of the earnings growth forecast for the index is coming from companies like SBI and metals. Therefore, they have to perform and there is no reason why they won t perform.