Declares special dividend of Rs 2 a share in addition to dividend of Rs 6.5 for year ended March 31
Weakening revenue growth in FMCG business is a concern
Net sales of the FMCG firm were up 9.51% at Rs 10,062.38 crore
The stock moved up 4% to Rs 337 after the company announced 1:2 bonus & dividend of Rs 8.5 per share.
Noodle biz grew by 30% & gained 29% market share in past year, juices hold 7% share
The company had shut its plants from May 4 as it worked to get much larger health warnings on cigarette packs, even as a court hears objections to the new rules
Production resumed in a phased manner with the warning, pending the hearing by Karnataka HC, the company said
Move follows Health Ministry's directive to print tobacco packs with 85% health warnings
The company would be shifting about 500 people to the new location
According to WHO, tobacco-related diseases cost the country $16 billion annually.
The company had halted production for 15 days after a new ministerial directive called for covering 85% of a cigarette packet area with pictorial warnings
Sandeep Kaul takes over from Hemant Malik as chief executive of the tobacco division while, the latter leads FMCG marketing & distribution
The FMCG major announced the closure of its cigarette factories from April 1, 2016
ITC said it has been compelled to shut its cigarette factories with effect from April 1, 2016, until clarity emerges
The acquired company has been revenue positive for the past three fiscal years
ITC has also entered dairy with ghee in the southern market and is looking to introduce more products in the segment
The ITC stock, which opened Rs 9 higher than its Monday's closing, happened to be one of the major contributors to the 700-plus Sensex rally on Tuesday
Company's market valuation stood at Rs 2,61,403.46 crore
ITC, Infosys and ICICI Bank collectively contributed 370 points of the Sensex's 777 points rise, the BSE data showed.
The markets had factored in an 8-10% hike on cigarettes; besides, close to 50% of ITC's revenues now come from non-tobacco products