From NDTV
Center-Right Owned by Adani Group (AMG Media)ITC Q2 Review: FMCG Shines, Cigarette Business Drags; Motilal Oswal Retains Neutral Rating; Check Target Price
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right · 2 outlets
The top concern across brokerages is the pressure on ITC's cigarette business following the unprecedented increase in taxes. Cigarette volumes declined 7-8% YoY in Q2.
— NDTV
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ITC is still in the transitory phase, with the full tax hike yet to be passed on to consumers, thus, the brokerage believe Cigarette's revenue and EBIT performance will be volatile in the near term.
