From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, ITC, UltraTech Cement, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, IndusInd Bank, NTPC and ICICI Bank were the major laggards.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
Of the top 10 valued firms, eight including Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd, HDFC and ITC witnessed gains in their market valuation. From the top-10 pack, the valuation of HDFC Bank jumped Rs 31,553.45 crore to Rs 929,752.54 crore.
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
Two young girls attired in a lehenga and a Bengali saree welcomed United States first couple Barack Obama and Michelle on Sunday to the ITC Maurya in New Delhi where they will be staying for the next two days.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
Y C Deveshwar, chairman, ITC, received the Award at a ceremony held at Rio.
As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro and JSW Steel were the major gainers during the morning deals. Nestle, Bharti Airtel, Axis Bank ITC were among the laggards.
The company had posted a net profit of Rs 1,614.36 crore (Rs 16.14 billion) in the same period of previous fiscal.
The e-choupal network of information technology enabled information and trading kiosk of ITC has been shortlisted for the Development Gateway Award for 2005.
This is second time in a month when a packaged food co has complained
ITC, which has a 14.98 per cent stake in EIH Ltd -- the company that runs the Oberoi chain of hotels -- is planning to subscribe to the upcoming EIH rights issue. This ends speculation that it might pull out after Reliance Industries Ltd picked up a stake in EIH.
Following the result announcement, the company's stock was trading at Rs 295.30 on the BSE in the afternoon trade, up 1.34 per cent from its previous close.
Cases filed in 3 high courts.
Earnings from the company's FMCG business, including cigarettes, increased by 4.23 per cent to Rs 6,456.06 crore (Rs 64.56 billion), while that from the non-FMCG business section grew by 0.31 per cent to Rs 9,582.95 crore (Rs 95.82 billion).
The superstar will be endorsing the entire range of snacks under the umbrella brand Sunfeast.
International hoteliers operating in the country through sales agreements with Indian hotels can expect some relief after the Delhi High Court ruled on January 30 that income paid by the Indian partner to its foreign counterpart is exempt from tax since it cannot be considered royalty or technical fees. The ruling in favour of US-based Sheraton International Inc was in response to an appeal filed by the Income Tax Department challenging the service agreement.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Regional and local fast-moving consumer goods (FMCG) brands are gaining momentum at the cost of national brands for the second quarter in a row. Consumer brands are now losing out on share, especially at the mass end of the market. Local brands have been able to capture market share as prices of raw materials are lower.
The market-cap of the company eroded by Rs 14,895 crore (Rs 148.95 billion) to Rs 2,65,383 crore (Rs 2,653.83 billion).
ITC Ltd's Food Division said on Wednesday it will invest Rs 150 crore (Rs 1.5 billion) in the next two years for its foray into the snacks segment.
The centre of excellence, a non-profit joint venture between tobacco-to-hotels major ITC and the Confederation of Indian Industry (CII), is working on a rating system for companies' corporate social responsibility (CSR) programmes. The first exercise of its kind in India, the idea is to incentivise CSR programmes to strengthen companies' ability to bargain for tax breaks and create a better image with consumers and stakeholders.
Ustad Rashid Khan has left an enduring legacy with his soul-stirring notes, his melodious voice echoing through time and leaving an indelible imprint on the rich heritage of Hindustani music.
Show cause notices have been issued to the publishers of The Hindu, 'Star Dust', 'Overdrive' and cigarette manufacturers -- ITC, Gold Flake and Phillip Morris - for violation of the Tobacco Products Act, the Rajya Sabha was informed on Wednesday.
Titan surged 2.98 per cent, followed by IndusInd Bank, ITC, JSW Steel, Infosys, Tech Mahindra, Tata Consultancy Services and Maruti. Hindustan Unilever, Asian Paints, Bharti Airtel and HDFC Bank were among the laggards.
The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). This is the lowest revenue growth for the industry since the June 2020 quarter, when the FMCG firms in the Business Standard sample had reported a 13.2 per cent Y-o-Y decline in combined net sales owing to the lockdown.
With the personal greetings card business taking a hit from e-cards, SMS and MMS, ITC Ltd, which markets Expressions greeting cards, is looking at pushing sales of cards and gifts in the corporate segment during the upcoming festival season.
ITC Limited on Friday reported a 19.68 per cent increase in net profit at Rs 387.06 crore during the fourth quarter ended March, 2004 whereas net profit in FY04 surged by 16.15 per cent to Rs 1,592.85 crore.
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