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
From the Sensex basket, Mahindra & Mahindra, Larsen & Toubro, JSW Steel, NTPC, IndusInd Bank, Sun Pharma, UltraTech Cement, State Bank of India, Reliance Industries, and Maruti were the major gainers. Nestle, Tata Consultancy Services, Axis Bank, ICICI Bank, Bajaj Finance, ITC, and Asian Paints were among the laggards.
Among the Sensex firms, Hindustan Unilever, Reliance Industries, Infosys, Asian Paints, ITC and UltraTech Cement were the major gainers. State Bank of India, JSW Steel, Axis Bank, ICICI Bank, Tata Steel and Tata Motors were among the laggards.
Late entrant ITC is making competition count in the Rs 29,000-crore (Rs 290 billion) personal care industry.
The fee pocketed by investment banks for handling equity share sales stood at $244 million during the first half of calendar year 2024. This was the highest first half figure since 2007, according to LSEG Data & Analytics, a provider of financial markets data. Capital mobilised via equity capital market (ECM) activity jumped 2.5 times to $29.5 billion - the highest-ever semi-annual total in terms of proceeds.
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.
Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC, Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards. In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech 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).
Leading conglomerate ITC will soon increase prices of cigarette brands like Classic and Gold Flake Kings by up to 15 per cent per pack.
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.
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.
Clever strategising on ITC's part has put Bingo in the number one slot within six months of its launch.
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
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 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.
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.
The hospitality chain Leela Group chairman C P Krishnan Nair, who is set to retire from active management this June, on Monday said he will consider partnering Mukesh Ambani if there are hostile takeover threats from rival ITC.
The agribusiness division revenues in Q1 was Rs 1,418 crore and the profit before tax for the segment was Rs 54 crore, against a revenue of Rs 1,111 crore and PBT of Rs 47 crore in Q1 of the last financial year.
Given the expectations of growth in the packaged foods segment, the company seeks to become a Rs 1-trillion FMCG business by FY30.
ITC Foods has achieved scale, built brands and turned profitable. What drives its growth?
FMCG major ITC on Tuesday surpassed state-run energy giant ONGC to become the county's second most valued firm in terms of market valuation, with TCS at the top of chart.
Twelve years on, and an unspecified amount of investment, ITC's green initiatives labelled as sustainability goals have translated into 24 per cent total shareholder returns, measured in terms of increased market capitalisation and dividends, at a compounded rate of growth.
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.
Once heavily dependent on the cigarettes segment, corporate behemoth ITC has diversified over the past two decades into many businesses that now generates 58 per cent of its revenue. Sanjiv Puri, chief executive officer, ITC, shares his plans with Arnab Dutta.
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.
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.
Tobacco major ITC is weighing legal options in the wake of Centre's move to demand Rs 450 crore (Rs 4.5 billion) from it in connection with excise evasion after arming itself through an ordinance with power to modify past excise rules.
The Supreme Court on Thursday delivered a judgement giving ITC a relief of Rs 803 crore (Rs 8.03 billion) on account of excise duty
ITC Infotech, an IT services firm and a wholly owned subsidiary of tobacco-to-hotels conglomerate ITC Group, has acquired New York-headquartered Pyxis Solutions - a provider of quality assurance and testing services - for $25 million (around Rs 105 crore). This is its first all-cash acquisition in the last eight years, funded through internal accruals.
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.
To get three-year term as non-executive chairman from Feb; firm to create CEO's post; AGM to ratify Sanjiv Puri, Rajiv Tandon's appointment as directors
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
