Expect ITC to recover as uncertainty is over: Kaustubh Pawaskar

Kaustubh Pawaskar, DVP Fundamental Research at Sharekhan, expects ITC margins to consistently improve. Non-cigarette FMCG business, hotel business, and cigarette volume growth will drive recovery. Further correction would imply attractive valuation considering ITC’s strategies and positive business performance. The stock is trading at around 19 times FY26 earnings which is at a discount to its historic average. We should expect the stock to recover from here as major uncertainty is over now.