Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
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.
The outgoing chairman believed in building for the future; for his successor, the challenge will be to maintain the momentum, says Ishita Ayan Dutt.
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.
Indian companies stole the show at the annual Pacific Area Writers Travel Association Awards at the ITB Berlin tourism fair in Berlin on Friday, with hospitality majors, ITC hotels, The Taj Group of Hotels and Kingfisher Airlines winning major honour
ITC, a competitor in fast moving consumer goods, is likely to extend its Vivel personal care range to deodarants and talcs.
ITC Limited could take its IT business -- ITC Infotech -- public, its Chairman Y C Deveshwar said on Friday.
Equity benchmark indices Sensex and Nifty closed marginally lower on Friday as investors booked profit in FMCG, IT and healthcare stocks after the BSE Sensex and Nifty hit fresh lifetime highs in intra-day deals. The 30-share BSE Sensex dipped 7.65 points or 0.01 per cent to settle at 75,410.39. During the day, it rallied 218.46 points or 0.28 per cent to hit its all-time intra-day high of 75,636.50.
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In his clearest message yet on the controversy over the safety of ENDS, health minister Harsh Vardhan ruled out their acceptability in the light of research findings by experts which have held that they are no less unsafe than the 'real thing', said a government statement.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
ITC Infotech India Ltd, a wholly owned subsidiary of the Kolkata-based ITC Ltd, plans to hire 2,300 professionals to touch a staff of 3,000 by December 2004, a top company official said on Wednesday.
Names such as Danone, Dabur, Mondelez and Abbott Healthcare have also figured on the list of suitors.
One of India's leading chain of hotels, ITC on Tuesday said it plans to open 25 hotels pan-India in next twelve to eighteen months under its flagship brand Fortune, a top company official said.
The product portfolio includes milk powder, long-life packaged milk, fortified milk, etc.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
Finalises blueprint to become pan-Indian dairy player; to set up plants in 6 states.
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.
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.
FMCG major ITC again became the BSE benchmark Sensex's most influential stock on Monday, pushing energy giant Reliance Industries to the second place.
Competitors in the health and hygiene soap segment include Lifebuoy, Dettol and Santoor.
As per BSE website, Infosys is now the top holding in 30-share S&P BSE Sensex, followed by ITC.
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.
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.
From the Sensex basket, Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro were the major laggards. Titan Company, Hindustan Unilever, HDFC Bank, Maruti, ITC, Power Grid and Reliance Industries were the gainers.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
ITC buys two-thirds of tobacco from Andhra Pradesh and the remaining one-third from Karnataka for its cigarette manufacturing division
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.
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
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
Several firms are stepping up to help their workforce cope with soaring temperatures
ITC has stated its products have been found to be in compliance with all food safety regulations.
