ITC Limited's foods division on Wednesday announced the all-India launch of the 'Sunfeast' range of high quality biscuits with offerings in glucose, Marie and cream segments.\n\n
Among the Sensex firms, Infosys, NTPC, Power Grid, Titan, ITC, Tech Mahindra, Hindustan Unilever, Axis Bank, Tata Consultancy Services, Bajaj Finserv, Reliance Industries and UltraTech Cement were the biggest gainers. In contrast, IndusInd Bank, Kotak Mahindra Bank, Mahindra & Mahindra, JSW Steel, HDFC Bank and Maruti were the major laggards.
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
ITC, the Kolkata-based tobacco-to-hotels major, is extending its flagship foods brand, Aashirwaad, to spices and rice. The move will reduce its reliance on the cigarettes business.
"The 33 per cent extra scheme by Frito-Lay's on Lay's and Kurkure got good trader and consumer response. In the next four-six weeks, a similar scheme will be offered by ITC," market sources said. ITC has been able to capture 7 per cent of the chips and snacks sector in 2007 within a year of its launch. "It has already made a dent in Frito-Lay India's share," according to a Euromonitor International study on sweet and savoury snacks in India.
Tata Motors, Power Grid, Larsen and Toubro, Kotak Mahindra Bank, NTPC, Titan and UltraTech Cement were the other major gainers. ITC, Infosys, JSW Steel, Tech Mahindra and Tata Consultancy Services were the laggards.
Diversified business group ITC on Friday announced the issue of bonus shares against each share of the company, the seventh time in the last 32 years, as part of its centenary celebrations.
After slipping to a new low of 5,112, the Sensex is now at 5,116, up 14 points. The Nifty is up 8 points at 1,607.
ITC Limited is setting up a 25,000-tonne per annum capacity facility at a cost of Rs 35 crore at its Bollaram unit in Hyderabad for production of elemental chlorine-free (ECF) paperboards to be used for manufacture of paper cups.
Among the Sensex firms, Power Grid, NTPC, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro, Infosys, Tech Mahindra, Reliance Industries and Bajaj Finance were the major gainers. Axis Bank, HDFC Bank, Hindustan Unilever, Larsen & Toubro and ITC were among the laggards.
ITC on Wednesday said it would set up new small format stores in rural areas on the lines of existing hypermarket chain - Choupal Sagar - by early next year, even as it plans to ramp up its retail operations.
From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.
The "additional remuneration" includes monthly pay of Rs 1 crore, rent free furnished accommodation, medical expenses for him and spouse along with use of chauffeur driven company car for personal use and coverage under personal accident insurance. He will also be entitled to commission between Rs 30-60 lakh as sitting fees for attending meetings of board and committees of the company for each financial year.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
We can be cash positive in no time, the day we decide to slow down investments
Among Sensex firms, HDFC Bank climbed more than 2 per cent. TCS, Maruti, Infosys, Reliance Industries and Bharti Airtel were among the major gainers. State Bank of India, JSW Steel, ITC, Tata Motors, UltraTech Cement and Nestle were among the laggards.
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards. Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.
.jpg)
Shares of cigarette companies such as Godfrey Phillips and ITC surged as much as 10.4 per cent on Thursday.
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter. Bharti Airtel, ITC, HCL Technologies, Asian Paints, Wipro, HDFC Bank, Nestle, Tata Steel, Tata Consultancy Services and Maruti were among the other major laggards. NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra were among the gainers.
The Prime Minister has organised a reception for the team at his residence at 11 am.
The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 404.18 lakh crore on Thursday helped by a five-day rally in benchmark indices, making investors richer by Rs 11.29 lakh crore. Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. During the day, it surged 718.31 points or 0.97 per cent to 74,571.25.
The cigarettes segment had a revenue of Rs 4,554.21 crore during the second quarter of the current fiscal, as against Rs 8,528.47 crore in the year-ago period, down 46.56 per cent.
ITC's investment arm Russell Credit has raised its stake in Hotel Leelaventure to 7.37 per cent --an increase of 2.26 percentage points. The promoters of Mumbai-based Leela group, meanwhile, said they were not interested in tying the knot with ITC as a strategic partner in the growing hotels business.
State Bank of India was the biggest gainer in the Sensex pack, rising 4.24 per cent, followed by Tata Steel, Axis Bank, Maruti, NTPC, PowerGrid, ITC and Nestle India. Reliance jumped 1.15 per cent to end at Rs 2,962.60 apiece on BSE.
During the quarter, revenue from cigarettes increased 10.17 per cent to Rs 4,639.17 crore.
According to BSE, Bharti Airtel's revenue (on a standalone basis, excluding that from foreign operations and their subsidiaries) stood at Rs 49,919 crore (Rs 499.19 billion).
Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.
Equity benchmark index Sensex on Wednesday crashed over 900 points to sink below the 73,000 level due to widespread selling pressure amid a sharp fall in smallcap and midcap indices. Besides, deep losses in utility, energy and metal stocks and recent selling by foreign investors added to the gloom, analysts said. Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Among the Sensex constituents, 18 stocks closed in negative with UltraTech Cement, L&T, Bharti Airtel, Bajaj Finance and Tech Mahindra being major laggards. Other heavyweights like Asian Paints, Maruti, Titan and JSW Steel also saw heavy selling. In contrast, Kotak Mahindra Bank, Bajaj Finserve, HDFC Bank, ITC and SBI bucked the trend and ended the session with a gain of up to 2.09 per cent.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
ITC operates only in the sugar confectionery arena, which limits its size of business.
Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers. TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserve were the other gainers. In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading with losses.
Seeking to assuage pilot shortage concerns, Akasa Air's chief executive Vinay Dube on Friday said the carrier has sufficient pilots and flyers should not expect any flight cancellations. "We have plenty of pilots. We have given numbers like 700 in the past. "I don't think this is something from an Akasa perspective people need to worry about because we have got this plan in place where we have pilots not just for our current set of aircraft but we have got pilots for the foreseeable future in terms of growth," Dube told PTI at the sidelines of a CII event.
GST authorities have identified about 17,000 non-existent GSTINs and cancelled over 4,900 registrations in the ongoing pan-India drive against fake registration, a senior tax official said on Wednesday. Currently, there are 1.40 crore businesses registered under Goods and Services Tax, nearly double the number of businesses registered in indirect tax regime pre-GST rollout. Central Board of Indirect Taxes and Customs (CBIC) member Shashank Priya said in the drive against fake registration, till July 4, over 69,600 GST Identification Numbers (GSTINs) have been selected for physical verification by field tax officers.
