Brokerages have expressed optimism for ITC stock following a strong Q2 earnings report that surpassed expectations despite a challenging market environment marked by subdued demand and high food inflation. The company reported a standalone net profit of Rs 5,078.3 crore, a 3.1% increase year-on-year, with total revenue reaching Rs 19,327.8 crore, up 16.8%. Nomura has issued a 'buy' recommendation with a target price of Rs 555 per share, noting solid sales performance and resilience in key segments like cigarettes and hotels.
