As ITC is one of the major Donors to various political parties since past many years, there could be a possibility that, there could be lenient cigarette taxes going forward. This factor could be also important for further re-rating of ITC.
Both ways, it is good for ITC, since its cigarette revenues are declining, so even if tax is increased the impact could be less going forward and if tax is not increased then also it is good.
Information of all ITC donations used to be available on https://myneta.info/ website.
So it is possible to find the data.
I sold ITC few years back, but looking for the possibility to re-invest, after considering some of the recent positive developments. Current P/E of 25 is above my comfort zone so it is on watchlist.
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