Accumulate ITC :: Kotak Sec, links

Please Share::

�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��

��

-->
Media reports indicate that the government is likely to go slow on the
changes in the Cigarettes and Other Tobacco Products Act (COTPA), and may
even shelve the same. The reports indicate that the government shall re-look
at the implementation of the changes, in view of the impact that such an
act may have on farmers of tobacco and areca nut. We believe this is a
significant positive, and could also have implications on the view that
investors form for the excise duty hikes in the upcoming budget. We
upgrade ITC to ACCUMULATE (SELL earlier), and raise our price target to Rs
387 (Rs 343 earlier).

LINK
http://www.kotaksecurities.com/pdf/dmb/MorningInsight04122014ad.pdf