JPMorgan On ITC

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JPMorgan On ITC

Overweight Call, Target Price Cut Το 475/sh

FY25-27 EPS Lowered By 4-6% Due To Weaker EBIT In Cigarettes, FMCG & Paper

Cigarette Pricing Remains Weak Amid Competition

FMCG Faces Sluggish Growth & RM Inflation

Key Catalysts Are Cigarette EBIT Growth & FMCG Profitability

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