ITC announces first-ever Institutional Investors and Financial Analysts Day on 14 December; analysts expect major announcements

ITC Limited stocks were in news on Thursday after the company informed the exchanges about an analyst and investor day, scheduled on 14 December. The news has already created a lot of buzz, analysts opined.   

The event ‘ITC Institutional Investors and Financial Analysts Day 2021’ is scheduled for 14th December. The six-hour event is also its first-ever and will be held between 10:30 am and 5 pm, the company said in its filing to exchanges. 

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Technical Analyst Sacchitanand Uttekar said that the news was a positive trigger for the stock today and the company is expected to announce something major, calling this event “unprecedented” for the ITC.  

Uttekar, who is DVP-Head-Technicals & Derivatives at Tradebulls Securities said that he expected ITC to announce a demerger of its businesses. If this happens it will augur well for the company and its different businesses. This will not only help in the value unlocking of its businesses but also propel the stock prices, significantly, he added. 

The company has business interests in sectors including Fast Moving Consumer Goods (FMCG), IT, packaging, hotels and agri-business.  

ITC also remains a preferred by for this analyst and he recommended this stock for target of Rs 275. The stock today ended Rs 234.80, up by almost 4.4 per cent or over Rs 9 from the Wednesday closing price. He had recommended this stock at levels around Rs 229.  

Also Read: Stocks to Buy: With 20% upside, ITC is ‘preferred buy’ for this technical analyst; know why?

The views were also endorsed by another analyst, Sandeep Jain. The Tradeswift Director called this a positive development for the company and investors. 

He said that he expected some announcements around the demerger of ITC’s businesses. The demerger will trigger value unlocking of its various businesses, he opined. 

Even the top management has indicated its concerns around valuation, Jain said adding that some positive news was likely in the offing. 

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It could be around bonus as well, he further said. Though the picture will get clear only after the analyst meet, he said.       

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)  

Minnie Arwood

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