Motilal Oswal Cuts Target Price, But Retains Rating — Here’s Why
ITC Ltd.’s December quarter (Q3 FY26) performance remained steady in its core cigarette division, while its FMCG arm delivered a healthy uptick in operating profitability. However, the brokerage has turned cautious after the sharp taxation changes announced in the recent GST and excise revisions—implemented from February 01, 2026—resulting in a steep rise in cigarette taxes. Motilal…
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