The Nifty fell 246.9 points, or 1.1%, to 22,272.50. The Sensex declined 845.12 points, or 1.14%, to 73,399.78 in a volatile trading session that saw mixed responses across the Asia-Pacific to this weekend’s Iranian drone attacks on Israel. China advanced 1.26%, Hong Kong fell 0.73%, South Korea declined 0.42%, and Taiwan dropped 1.38%.
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