Road constructive on ITC’s FMCG enterprise outlook

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Mumbai: Most brokerages maintained purchase ranking on ITC after it reported a 1.3% decline in internet revenue for the March quarter at Rs 3,748.four crore, which was barely larger than analysts’ expectations. ITC’s income from operations jumped 24% to Rs 14,157 crore, sharply larger than Road estimates.

CLSA, Jefferies, IIFL and Kotak Institutional Equities have maintained purchase ranking on the inventory and Morgan Stanley retained chubby. Shares of ITC



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