StartupsET Techabout 1 hour ago
ITC tobacco valuation too cheap, Kotak says
3 min read
Kotak Securities values ITC's tobacco business at roughly 11X one-year forward earnings, based on depressed FY2027-28E EPS versus FY2026. The brokerage says the market either expects stagnant tobacco earnings in perpetuity or assigns significant value to ITC's non-tobacco businesses.
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