Buy, sell or hold ITC stock rally ahead of Q4 results today?

According to stock market watchers, the share price of ITC is rising as the company is going to announce its fourth quarter results today. He said the market is expected to strengthen ITC Result All segments of the company – tobacco, hotels, FMCG, agriculture etc – are expected to perform well during the January to March 2023 quarter. He added that ITC share price may remain in a bull trend as the market is expecting some announcement from the management regarding demerger of any segment in ITC.

Speaking on the reasons for the rise in ITC share price today, Saurabh Jain, Vice President – Research at SMC Global Securities said, “ITC Q4 results are expected today and the market is expecting strong Q4 results from the Indian conglomerate company. ITC is expected to deliver double-digit growth in its tobacco business, while hotels, agriculture and Looking forward to announcing good numbers in the FMCG business.” Saurabh Jain further added that the market is also expecting some announcement from the ITC management regarding its demerger plans and if there is any announcement regarding the demerger, then ITC shares may move higher. Having ITC in the portfolio, they are advised to hold the stock going forward.

Giving ‘Buy’ tag to ITC shares, Sumeet Bagadia, Executive Director, Choice Broking said, “ITC share price is looking positive on chart pattern. It may go up. 450 level in near term and one can buy and hold the stock for this 450 on stop loss while maintaining near term target 418 per share level.”

Expectations from ITC results today

In the results of ITC today, the market is expecting double digit growth in cigarettes and revenue. FMCG Business Also, the increase in demand post-Covid is expected to drive its hotel business.

In its preview note, ICICI Direct Research said, “We forecast 6.3% revenue growth for ITC led by strong growth of 15.9% in the cigarette business. We forecast ~13% volume growth in cigarettes. In addition, the FMCG business is expected to see 19.1% growth in sales due to strong traction in the foodstuff, discretionary and stationery categories. The hotel segment is expected to see a growth of 77.8%, given the post-Covid demand The growth in the paperboard segment is expected to moderate as RM prices fall and companies cut prices accordingly. The segment is likely to grow by 7.6% in Q4. Agribusiness due to export restrictions on wheat is expected to see a 25.4% decline in sales.”

Disclaimer: The views and recommendations in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to do due diligence with certified experts before making any investment decision.