Correction in ITC stock a good buying opportunity for investors

A sharp hike in tax on cigarettes could see post-Budget selling, but the company's long-term prospects are good and target prices suggest a significant upside

Devangshu Datta | Mumbai
Last Updated at January 13, 2023 23:03 IST

Photo: Shutterstock

As the Budget approaches, investors start speculating on the likely changes in taxation and the ensuing impact on various sectors. ITC is always a subject of discussion since the fast moving consumer goods (FMCG) major’s key revenue centre is tobacco and that is a popular target for sin-taxes.

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