ITC Ltd has acquired the Technico Pty Ltd of Australia. The acquisition has been made through Russell Credit Ltd, a wholly owned subsidiary and investment arm of ITC Ltd.
Equity trading volumes, both in the cash and derivatives segments, dropped in March amid wild swings in stock prices. The average daily trading volume for the cash segment (National Stock Exchange, or NSE, and BSE combined) fell by 16.3 per cent to Rs 1.07 trillion - the lowest since November 2023. Market players said the drop could have been sharper if not for the large block deals in companies such as ITC, Tata Consultancy Services, and IndiGo seen during the month.
Big, listed FMCG (fast-moving consumer goods) companies such as Hindustan Unilever, ITC, Nestl, and Britannia have been top-performing stocks on the bourses in recent weeks. The Nifty FMCG index, which tracks the share prices of the country's top 15 listed FMCG companies, is up 1.9 per cent month-to-date in May compared to a 2.4 per cent decline in the benchmark Nifty 50 in the period.
A multi-layer security arrangement involving five companies of paramilitary personnel, NSG commandoes and snipers have already been deployed around the Rashtrapati Bhawan. Drone cameras have also been put into service.
ITC is one of those few enterprises in the world that has traversed a 100 year journey and has yet managed to remain contemporary, relevant and competitive.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
Diversified group ITC will sell its entire stake in US-based wholly owned subsidiary 'King Maker Marketing' for USD 24 million (about Rs 160 crore).
In a move that is seen as a major setback to tobacco major ITC, the government has armed itself through an ordinance with powers to modify past excise rules in an apparent attempt to recover arrears of Rs 803 crore.
The 10 ITC Hotels branded as Sheraton at present were expected to be re-branded as Luxury Collection soon, sources in the know said.
Second-ranked L&T has been rated highest on leadership
The tobacco business was increasingly coming under prohibition by various regulations.
Diversified group ITC on Thursday surpassed Reliance Industries as the most influential stock on the Sensex, following a spurt in the stock price.
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.
At the end of the day's trade, ITC commanded 10.01 per cent weight, while RIL had 9.07 per cent weight, followed by ICICI Bank which had 7.66 per cent weight in 30-share Sensex.
After the initial struggle, ITC Foods is finally making its presence felt through its parent's distribution muscle.
From the Sensex basket, Titan, Reliance Industries, Asian Paints, Tech Mahindra, IndusInd Bank, UltraTech Cement, Wipro and ITC were the major laggards. ICICI Bank, Infosys, Bajaj Finserv, Tata Steel, Axis Bank, Bajaj Finance, Nestle and Mahindra & Mahindra were among the major gainers.
During the April-June quarter, Russell Credit picked up 1.1 per cent in the hospitality major, taking total stake to 13.98 per cent, while the promoters hold a 56.57 per cent.
Price cuts post the November GST rate rationalisation helped improve volume growth for HUL, what pegged back sales for ITC is adverse social media rumours against Aashirvaad atta, its single-largest FMCG brand.
A pick-up in low-cost cigarette consumption helped India's largest cigarette maker boost margins
ITC Hotels and Tatas' Indian Hotels Company will invest strongly over the next few years to add properties in the segment, considered a booming one.
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
ITC on Monday said it is conducting more tests on its products at accredited labs across India.
The Prime Minister has organised a reception for the team at his residence at 11 am.
ITC Hotels proved the scepticsim over the hospitality industry wrong by recording an over 95% rise in profits in the fourth quarter of 2002-03.
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
The long battle between ITC and its one-time trading partner, the Chitalias, has shifted to India. ITC has filed a suit in the Indian courts to recover assets it says the two brothers have in the country.
Even though ITC does not have a retirement age, Deveshwar's extension has been the subject of discussion since his five-year term was close to ending.
India's tobacco majors ITC and Godfrey Phillips India (GPI) have stopped production of cigarettes in view of uncertainty over the sort of pictorial warnings that needed to be carried on tobacco products starting this month.
Sachin Tendulkar on Friday embarked on a new partnership with ITC's food division to promote a new brand of health food in his name -- Sunfeast Sachin's Fit Kit.
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.
ITC, a competitor in fast moving consumer goods, is likely to extend its Vivel personal care range to deodarants and talcs.
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.
Names such as Danone, Dabur, Mondelez and Abbott Healthcare have also figured on the list of suitors.
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