Page 13 - Itc

Correction in ITC stock a good buying opportunity for investors

A sharp hike in tax on cigarettes could see post-Budget selling, but the company's long-term prospects are good and target prices suggest a significant upside

CBIC asks tax officers to verify invoice details in ITC mismatch cases

The CBIC has asked tax officers to verify details of invoices to resolve mismatches in ITC claims which have come up during the GST audit for 2017-18 and 2018-19. A large incidence of mismatch in Input tax credit (ITC) claims and details of outwards supplies has come to light during the GST audit for 2017-18 and 2018-19 undertaken by tax officials, following which show cause notices were issued to taxpayers. The Central Board of Indirect Taxes and Customs (CBIC) in a circular said it has received various representations from the trade as well as the tax authorities, seeking clarification regarding the manner of dealing with such discrepancies between the amount of ITC availed by the registered persons in their Form GSTR-3B and the amount as available in their Form GSTR-2A during 2017-18 and 2018-19. GST authorities, for the first time, are undertaking audit of the new tax regime which was rolled out on July 1, 2017. The CBIC said in order to ensure uniformity in the implementation

ITC stock hits 2-month low amid market weakness, slips 4% in two days

Reliance Consumer's foray into FMCG, through brand 'Independence', could be a threat to existing FMCG companies in the foods space, analysts said

Inflationary pressure on FMCG products cooling off: ITC chief Sanjiv Puri

Inflationary pressure on FMCG products is showing signs of cooling off, which may provide relief to consumers, ITC Chairman and Managing Director Sanjiv Puri said on Thursday

AP CM Jagan Mohan Reddy inaugurates ITC's global spices processing facility

Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Friday inaugurated ITC's global spices processing facility at the Spices Park at Yedlapadu in Palnadu district. The state-of-the-art Rs 200 crore facility will have a capacity to process 20,400 tonnes of spices like turmeric, chilli and blended spices annually in the first phase. Speaking on the occasion, ITC Chairman Sanjiv Puri said once fully complete in two phases, it would be the largest spices processing facility in the country catering to customers across the world. "This plant is equipped with state-of-the-art technology and conforms to all global standards of safe food production to the requirements of global customers. This will be aligned to our philosophy of sustainable and inclusive growth," Sanjiv Puri said. The facility also has renewable energy and would enable strengthen ITCs footprint in the agri-value chain and empower farmers, he added. The ITC chairman said they were now rolling out ITC Marts that would be

ITC hits new high in a subdued market; zooms 63% thus far in 2022

Post Q2 results, most brokerages have either recommended a 'buy' and an 'accumulate' rating on ITC with target prices in the range of Rs 365 to Rs 405

ITC cooks up a storm, sets up 12 cloud kitchens and 48 brand outlets

A key lever of the ITC Next strategy is to spot new opportunities at the intersection of digital, sustainability and enterprise strengths

PEs add spice firms to shelf, invest Rs 5,000 cr to expand biz, enter mkt

Market is expected to touch Rs 50K-crore mark by 2025

ITC stock slips despite good performance in September quarter

All analysts are bullish on the firm with target prices ranging from Rs 375 to Rs 490

ITC hits new high on solid Q2 performance; analysts see up to 16% upside

Analysts believe ITC would continue to grow in its core business of Cigarettes and FMCG with stable taxation & softening of raw material prices.

Stocks to Watch: Axis Bank, ITC, Asian Paints, Bajaj Finance, YES Bank, RIL

Stocks to Watch: The Competition Commission of India (CCI) has approved Carlyle Group and Advent International's acquisition of up to 10 per cent stake each in YES Bank

ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%

The company attributed the performance to strong and broad-based growth across markets and channels

Sensex rises 96 pts after range-bound trade; Pvt banks weak, IT strong

CLOSING BELL: Meanwhile, the rupee will fall further against the US dollar over the rest of the year, a Reuters poll showed. It slipped to a record low of 83.21 today, and ended at 82.75/$

Stocks to Watch: IndusInd Bank, Delhivery, Tracxn, Shoppers Stop, ITC, NLC

Stocks to watch today: Tracxn Technologies will make its debut on the bourses Thursday. As per IPO Watch, it may see a muted listing with flat to a negative discount. The issue price is Rs 80 a share

Mother Sparsh gets second investment from ITC, eyes Rs 100 cr in Series B

Announcement comes on heels of Mother Sparsh's entry into the diaper segment with the launch of Plant-Powered cloth diapers. The firm had raised Rs 20 crore in Series A from ITC last November

Stocks to Watch: Adani Enterprises, BEL, Piramal Pharma, Telecom, Shalby

Stocks to watch today: Adani Enterprises' subsidiary has acquired aircraft maintenance repair and overhaul unit Air Works for Rs 400 crore

ICICI Pru, 14 insurance firms evaded Rs 824 crore input tax credit

Officials said further investigation revealed that other insurance companies and NBFCs also exploited a similar route to avail of ineligible ITC

FMCG firms offer discounts, price cuts as raw materials get cheaper

Food companies are still in wait and watch mode

With new hotel brands, ITC checks in with 'house of brands' model

ITC has launched two brands - Storii, in the boutique premium segment, offering immersive experiences, and Mementos, a collection of unique luxury properties across destinations

ITC scouts alternate structures for hotel biz; stock up 50% so far in 2022

According to reports, ITC Hotels could soon be a separately listed entity, carved out of the parent cigarette-to-branded packaged food conglomerate.