Maintain ‘buy’ on ITC with unchanged FV at Rs 260

FY2020 Ebitda growth print (+4% y-o-y) was impacted by higher taxation and Covid outbreak. FCF grew 30% to Rs 117 billion led by reduction in W-cap and tax rate cut

from The Financial Express https://ift.tt/3cE5203
https://ift.tt/eA8V8J Kotak Institutional Equities