Brokerage firms maintain 'buy' call on ITC stock

A day after cigarettes to consumer goods company ITC scrip was sold heavily on news of the Government accepting the Health Ministry recommendation on banning loose cigarettes Duty Free Marlboro Cigarettes, the stock recouped to close over 2 per cent on the bourses Cartons Of Cigarettes Wholesale. It closed on Wednesday at on the NSE, up 2.25 per cent. While ITC can adopt counter measures, the recommendations, if implemented, can hurt cigarette volume in the interim, as the entry of new consumers, who typically start with single cigarette, can be impacted, the brokerage observed while reiterating its buy call on ITC. Advising clients to add ITC to their portfolio, Kotak Institutional Equities observed that implementation of regulations like ban on loose cigarettes can have a knee-jerk impact on ITC cigarette volumes Cheap Wholesale Cigarettes. However, the same is impossible to predict. While regulatory hurdles and punitive taxation and its impact on ITC volume growth have been a perennial concern Wholesale Cigarettes Online, a significant part of this is already baked in ITC valuation multiples. This could prove to be a difficult task, given the widespread retail landscape of the country Cheep Newports With Stamps, the report added.
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