“The BJP manifesto has a strong positive read-through for Indian equities,” said Seshadri Sen, head of research at Emkay Global Financial Services. “Railways, defence, housing mortgages, tourism, and aviation are direct beneficiaries; while textiles and pharma API are probable winners.”
ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong
Kotak Securities estimates ITC’s tobacco business is valued at just 11X forward earnings, suggesting potential undervaluation. The brokerage sees stronger growth in non-tobacco businesses and