FMCG major ITC again became the BSE benchmark Sensex's most influential stock on Monday, pushing energy giant Reliance Industries to the second place.
Forty years on, ironically, the managerial attention to new businesses has meant almost 40 per cent of revenues now come from the non-tobacco business.
Investors' wealth plummeted by Rs 5.49 lakh crore on Friday as markets faced a massive correction tracking a weak trend in global peers and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93. During the day, it plunged 1,219.23 points or 1.48 per cent to 80,981.93.
Stockists and dealers have been charging more since early March.
As a business, ITC Foods is younger than many other established players around, having begun operations only a decade ago.
As per BSE website, Infosys is now the top holding in 30-share S&P BSE Sensex, followed by ITC.
Competitors in the health and hygiene soap segment include Lifebuoy, Dettol and Santoor.
ITC was among the top Sensex losers which ended down 3.6%.
RDB, which has a plant capacity of producing over 20 billion cigarettes per annum, owns brands like Regent, Hero and No. 10, which are extremely popular in eastern India.
Among the Sensex firms, Titan, Asian Paints, ITC, Hindustan Unilever, Nestle India, Bajaj Finserv and Bharti Airtel were among the gainers. In contrast, UltraTech Cement, Tech Mahindra, Tata Steel, Power Grid, HDFC Bank, HCL Technology, State Bank of India and ICICI Bank were the laggards.
While Tata Consultancy Services, HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
While mostly corporates, including established names and little-known ones, went for the top-denomination bonds, there were also several individuals who bought multiple such bonds.
The Sensex ended in red on domestic concerns.
Ustad Zakir Hussain's story will be told in a thousand ways by each person who met him, loved him, spent time with him, got to know him and shared some precious time off stage with him, says Maanveer Singh.
The gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday. The government, however, has discontinued the official release of monthly GST collection data, they added. Sources said the gross Goods and Services Tax (GST) collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore.
Nestle, Titan, ICICI Bank, Tata Steel, IndusInd Bank, ITC, JSW Steel and State Bank of India were the other laggards. Among the gainers, Tata Motors jumped nearly 6 per cent. Larsen & Toubro, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance and Power Grid also ended in the positive territory.
In variance with the general trend of Indian companies making forays abroad, private sector giant ITC has made it clear that its focus would be India and unveiled ambitious plans, including setting up of a Rs 500 crore (Rs 5 billion) paperboard plant
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
ITC buys two-thirds of tobacco from Andhra Pradesh and the remaining one-third from Karnataka for its cigarette manufacturing division
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
A vegetable curry made using the signature vindaloo paste.
Late entrant ITC is making competition count in the Rs 29,000-crore (Rs 290 billion) personal care industry.
Titan, UltraTech Cement, Bajaj Finserv, Reliance Industries, ITC and NTPC were among the other major laggards. Tata Motors, State Bank of India, Hindustan Unilever, Power Grid, Tech Mahindra and Tata Consultancy Services were the gainers.
As part of its major expansion plans, ITC Ltd will build three new super deluxe luxury hotels in Chennai, Bangalore and Hyderabad at a cost of Rs 1,000 crore (Rs 10 billion).
Among Sensex shares, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, Nestle, NTPC, Power Grid, NTPC, UltraTech Cement and Larsen & Toubro were the biggest laggards. The prominent gainers were ITC, Tata Motors, Asian Paints and Titan.
ITC has stated its products have been found to be in compliance with all food safety regulations.
ITC's net profit grew the fastest, followed by HUL and Asian Paints.
The recent tie-up between ITC and Japanese trading company Marubeni would focus on China, Vietnam and the Philippines apart from Japanese and the domestic market.
Leading Indian companies-- ITC Ltd and Reliance Industries Ltd (RIL)-- have received top rating in Asia for their corporate social responsibility (CSR) initiatives, according to report by the Hong Kong-based brokerage and investment firm, CLSA.
Leading conglomerate ITC will soon increase prices of cigarette brands like Classic and Gold Flake Kings by up to 15 per cent per pack.
Clever strategising on ITC's part has put Bingo in the number one slot within six months of its launch.
Over the past year, Amul has undergone a transformative journey, evolving from a dairy-centric entity to a comprehensive foods company. Since 2022, PepsiCo India, too, has embarked on extensive launches in the food category. Not to be left behind, ITC, which has been introducing an average of 100 fast-moving consumer goods (FMCG) products across categories every year, has also launched a number of packaged food items.
Among the 30-share Sensex pack, State Bank of India, Reliance Industries, Hindustan Unilever, NTPC, Larsen & Toubro, Nestle India, Power Grid, ITC, JSW Steel and Sun Pharmaceuticals were the major gainers. On the other hand, HDFC Bank, Titan, Mahindra & Mahindra, IndusInd Bank, UltraTech Cement, Tata Motors, HCL Technologies and Asian Paints were among the laggards.
India's leading cigarette maker, ITC, has roped in artist Paresh Maity to design a limited edition packing for its Flake brand, with the launch of the Paresh Maity Collector series, to be exclusively sold in West Bengal. This is the first time that ITC has collaborated with an artist for its brand.
Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday, extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows. The 30-share BSE Sensex tumbled 692.89 points or 0.87 per cent to settle at 78,956.03. During the day, it tanked 759.54 points or 0.95 per cent to 78,889.38.
The tobaccos-to-hospitality major ITC has earmarked an whopping Rs 23,000-crore (Rs 230 billion) investment over the next seven to ten years for its FMCG, paper and hospitality businesses.
Among the Sensex stocks, JSW Steel, Asian Paints, Maruti Suzuki India, NTPC, Adani Ports and Special Economic Zone, Bharti Airtel, ITC and Tech Mahindra were the major gainers. Reliance Industries, Tata Motors, Infosys, Mahindra and Mahindra, Bajaj Finance and Axis Bank were the laggards.
