ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong
https://economictimes.indiatimes.com/markets/stocks/news/itcs-tobacco-business-is-going-cheap-but-kotak-institutional-equities-thinks-market-has-it-wrong/articleshow/133796628.cms
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and believes splitting ITC’s tobacco and non-tobacco operations could unlock significant shareholder value.
September 5, 2026 4
