ITC share price gains after Q1 results; Should buy, sell or hold?

• 16-Aug-2023
• 166

With the board approving the demerger of the hotel business, the focus of investors is likely to shift to the growth in the core businesses of cigarettes and FMCG .Highlights Board approval for the demerger of hotel business Ban on exports of wheat and rice impacted agri-division performance FMCG saw improvement in margins Maintain neutral stance; investors with moderate return expectation can add and accumulate stock The June 2023 quarter results for ITC (CMP: Rs 449; Market capitalisation: Rs 5,59,921 crore) were broadly in line with Street expectations