ITC’s Q1 performance alone unlikely to fire up stock
The ITC stock closed 2.6% higher on Friday, a day ahead of the results, as the Street may have factored in the high growth numbers of June quarter on back of a low base. However, it will be difficult for the stock to sustain the positive momentum.
Synopsis
Demand, improvement in mobility, sale of govt’s stake and inorganic expansion can, however, influence ITC stock
ET Intelligence Group: ITC’s June quarter performance has been on the expected lines with a sharp jump in growth of revenues and net profit over the stunted levels in the prior year due to nationwide lockdowns. On the other hand, there has been deterioration in performance on a sequential basis due to a second wave impacting the quarter.
The impact of input cost inflation was starkly prevalent with raw material cost growing faster than the
