Thursday, January 24, 2008

BUY to ITC for target Rs 242

ITC for a target price of Rs 242, an upside of 14 per cent to the market price of Rs 213 considered by the brokerage.

ITC reported sales of Rs 3,460 crore in October-December quarter of 2007 as against the brokerage's estimate of Rs 3,580 crore. Profit after tax was Rs 830 crore against the estimated Rs 797 crore. Other income increased from Rs 69.8 crore to Rs 137.4 crore, led by higher yield on treasury investments in debt instruments.

Posted by crazyreader at 10:27 PM

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