ITC’s cigarette business saw lower profits in the March quarter due to increased taxes. While other areas like FMCG improved, they could not fully compensate. The company is adjusting prices and products to protect its market share. However, higher taxes may boost illegal cigarette sales. ITC’s stock has fallen significantly this year.
Earnings growth to stay robust at 14–16%; IT correction a buying opportunity: Vikas Khemani
India’s IT sector is poised for a comeback, with AI expected to boost, not hinder, growth. Vikas Khemani of Carnelian Asset Management sees excessive pessimism,