Page 11 - Itc

ITC market-cap hits Rs 5.5 trn; stock trades higher for 6th straight day

Thus far in the calendar year 2023, ITC has surpassed market value (mcap) of Infosys, SBI, HDFC, Bharti Airtel, Adani Enterprises and LIC

ITC sets up consumer goods manufacturing unit in Odisha, CM inaugurates

Odisha Chief Minister Naveen Patnaik on Monday inaugurated ITC's integrated consumer goods manufacturing and logistics facility at Khurda. Congratulating ITC CMD Sanjeev Puri, Patnaik urged him to expand the company's footprint in the state. He reiterated the state government's commitment to making Odisha the next industrial hub in the country. The Industrial Policy Resolution (IPR) 2022 aims to transform Odisha into a modern and advanced industrial state by offering the investors outstanding opportunities for sustainable business growth and fostering holistic socio-economic development of the people, he said. The food processing sector is one of the priority sectors in IPR 2022 and this facility by ITC marks a significant milestone for Odisha, he said. The facility is built on an area of 35 acre. It is dedicated to seven production lines, including Aashirvaad atta, Yippee! noodles, Sunfeast biscuits and Bingo! chips. The inauguration ceremony was attended by Jatni MLA Suresh Kum

ITC's stock rally has more legs; analysts remain positive after strong Q4

Continuing high raw material inflation is a key concern and rupee depreciation continues to be a pain point

Stocks to Watch today, May 19: ITC, Thomas Cook, Zomato, Nexus REIT, IndiGo

Stocks to Watch on Friday: ITC Limited reported a 21.4 per cent YoY growth in standalone net profit at Rs 5,086.9 crore for the March quarter

Sensex ends lower for third straight day, slips 129 pts; SBI, ITC dip 2%

CLOSING BELL ON MAY 18: The NSE Nifty 50 slipped 52 points to 18,130 as weekly expiry also weighed on the sentiment.

ITC Q4FY23 net profit rises 21.1%, declares dividend of Rs 9.5/ share

ITC Q4 results: The revenue from operations rose 6.5 per cent to Rs 17,506.8 crore during the quarter

ITC, SBI, and others: These companies will declare their Q4 results today

Q4 results today: The list of companies that will declare their financial results has names like IndiGo, Jet Airways, Tata Elxsi, and GAIL

ITC Q4FY23 cigarette volume seen 13% up; Margin to see sharp yearly jump

ITC Q4FY23 result preview: The core Cigarette business volumes are expected to grow 13 per cent YoY, as per three brokerages. This pace of increase was 15 per cent in Q3FY23

CBIC to conduct two-month-long special drive to curb ITC fraud menace

"The move would likely help in curbing tax evasion," said Saurabh Agarwal, Tax Partner, EY

ITC increases stake in food brand Sproutlife to 39.42% for Rs 175 cr

Earlier in January this year, ITC had said that it would acquire 100% of Sproutlife Foods Private Limited, makers of Yoga Bar healthy foods

NCLAT sets aside CCI penalty on ITC for not furnishing info on Savlon deal

The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed on multi-conglomerate ITC by fair trade regulator CCI for not notifying for the acquisition of brands 'Savlon' and 'Shower to Shower' in 2017. ITC had 2017 acquired the antiseptic brand Savlon and the personal care product brand Shower To Shower from Johnson & Johnson Private. The Competition Commission of India (CCI) had on December 11, 2017, imposed a fine of Rs 5 lakh on ITC for alleged failure to give notice under sub-section 2 of Section 6 of the Competition Act. The section mandates the enterprise, which proposes to enter into a combination, to give notice to the CCI disclosing the details of the proposed combination, within 30 days. However, the CCI's order was challenged by ITC before the NCLAT, which is an appellate authority contending that the value of the deal was Rs 68.37 crore, hence, as per the rules and regulations, there was no need for any such notification. They were exempted .

ITC rally has more legs on FMCG biz scale up, high cigarette vols: Analysts

ITC share: The stock has firmly outperformed the benchmark returns by rallying 56 per cent over the last year versus a 3% and 23.5% gain in the Nifty50 and Nifty FMCG indices during this time

ITC surpasses HDFC's m-cap to become 7th most valued listed company

Thus far in calendar year 2023 (CY23), ITC has surged 22%, as compared to 3% decline in the S&P BSE Sensex, and 2.4% rise in HDFC Ltd

With nearly 100% stock returns in 16 months ITC is in no hurry to win

The unhurried pace of ITC, not controlled by any business family, has been reassuring

ITC m-cap hits Rs 5-trn for the first time; stock surges 21% so far in CY23

ITC is expected to maintain its volume growth momentum in the cigarette business, given no price hikes in the near term and government curbing illicit cigarette sales

ITC to add 3 properties under Welcomhotel in MP, Himachal, Uttarakhand

ITC Hotel Group's upper upscale brand Welcomhotel is planning to add three more properties in Madhya Pradesh, Himachal Pradesh and Uttarakhand. Recently, ITC inked a deal to open 136-room Welcomhotel Gwalior, which is spread over 7 acres and slated to open by 2025, the hospitality company said in a statement. The firm will be opening a 46-key hotel in Manali in a few months, it added. The company will also open a hotel in Dehradun under a management contract with Unique Hotels and Restaurants. The existing property is in the process of being converted into a 78-key hotel. "The signing of more properties under the upper upscale Brand Welcomhotel is in line with ITC Hotels' expansion plan to take our brand and services to tier II markets in addition to prime metro cities," ITC Hotels Divisional Chief Executive Anil Chadha said.

Nestle to Tata, big FMCG firms race to acquire maker of Ching's Secret

Last year, Capital Food's three main shareholders decided to put their stake up for sale, it is expected to fetch them $1-1.25 billion

Eye on growth post-pandemic, ITC to invest Rs 3,000 crore annually in India

The fast-moving consumer goods (FMCG) company will use the money to build more manufacturing capabilities

ITC Hotels launch Mementos Udaipur, its first Mementos property in India

ITC's Hotel Group has announced the opening of its first Mementos property by ITC Hotels, Ekaaya, Udaipur, under the new brand - Mementos

ITC working on short-term action to mitigate impact of a harsh summer

A team of experts is working using big data analytics. "We are piloting it on certain agri crop value chains," Puri said