External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>ITC is the biggest cigarettes &amp; second largest FMCG company in India</li><li>The company is also present in paperboard, printing &amp; packaging business with revenues of Rs 4549 crore, agri business with Rs 8001 crore</li><li>We value the stock at Rs 250 on SOTP basis valuing the cigarettes business at 12x FY24 earnings &amp; FMCG business at 5x FY24 sales.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

ITC is the biggest cigarettes &amp; second largest FMCG company in IndiaThe company is also present in paperboard, printing &amp; packaging business with revenues of Rs 4549 crore, agri business with Rs 8001 croreWe value the stock at Rs 250 on SOTP basis valuing the cigarettes business at 12x FY24 earnings &amp; FMCG business at 5x FY24 sales.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ITC Limited: Outlines Capital Allocation Path

ITC Ltd

ITC Limited: Outlines Capital Allocation Path