VERIFIEDEconomic Times News·5 Sept 2026neutral

ITC’s tobacco business is going cheap but Kotak Institutional Equities thinks market has it wrong

AI Summary

·Kotak Institutional Equities estimates ITC’s tobacco business is valued at 11X forward earnings.
·The brokerage believes the market is undervaluing ITC's tobacco segment.
·Kotak suggests splitting ITC's tobacco and non-tobacco businesses could unlock shareholder value.