Shares of ITC fell on reports of BAT potentially selling $2-3 billion worth of shares. The divestment, subject to regulatory clearances, has caused a supply hangover on ITC shares.
FMCG companies reported muted performance in Q3FY24 due to sluggish rural demand and increased competitive intensity, affecting overall volume growth. Amid this environment, let s analyse between ITC and Hindustan Unilever (HUL), which stock has better long-term investment opportunities.
Ashwini Shami sees economic activities around Ayodhya catalyzing strong growth for the UP economy, which has already seen a growth of nearly 20 percent last year, significantly higher than the national GDP growth.