Buy ITC with 6-12-month horizon: Rahul Shah
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Last Updated: Feb 15, 2021, 08:09 AM IST
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If you are a long-term investor, there is a lot of value in the company at the current market price, says VP-Equity Advisory, Motilal Oswal Financial Services
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Ancillary space should do much better than the auto cos in the next couple of months. In the auto ancillary space,
Ceat among tyre companies are good, says
ITC numbers? Does it merit this cool off on the stock?
ITC has been a laggard for quite some time and recently started moving up. The Q3 results were in line with our estimates in terms of profit as well on the EBITDA front and obviously the payout policy has been robust as it was last year also.
Motherson Sumi Systems jumped 8.12% to Rs 193.75 after the company s consolidated net profit surged 194% to Rs 798 crore on 15% rise in revenue from operations to Rs 17,923 crore in Q3 FY21 over Q3 FY20.The company said it posted a highest ever quarterly revenue operations normalised, with most facilities running at pre-covid levels. Indications of positive consumer sentiments reflected by increased demand globally. Sustained improvements in performance of Greenfield plants with a continued focus on cost reduction and efficiency improvements.
Consolidated profit before tax (PBT) (before exceptional items) jumped 166% to Rs 1,175 crore in Q3 FY21 from Rs 441 crore in Q3 FY20. The company received a tax rebate of Rs 109.22 crore in Q3 FY21 as compared to tax expense of Rs 96.76 crore in Q3 FY20.