The research firm also forecasts cigarette earnings before interest and taxes growth to return to double digits in case of stable taxation in the GST Bill.
Morgan Stanley is overweight on ITC with a target price of Rs 310 per share. It sees stock trending closer to this target. It says the proposed specific cess on cigarettes 6 percent lower than the current tax rate. This reduction will be offset by an increase in GST rate to 28 percent against the VAT rate of 25 percent.
For more information Call us ✆ +91 7400-734000 or Visit Dollar Advisory
No comments:
Post a Comment