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It is hard to find a chief executive at a homegrown company who is hugely optimistic about the short- or even medium-term future.
He may have retired from executive responsibilities at the National Stock Exchange (NSE) close to two months ago, but Ravi Narain says the "next two years may not be that easy".
Unlike most consumer companies that have reported relatively weak top line numbers, ITC has not come up with any negative surprises, not even in the cigarette business.
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