Page 9 - Itc

ITC's stock may remain range-bound post July-September quarter show

Most brokerages have cut their earnings estimates marginally to factor in the weak performance of the paperboards division

Stocks to Watch today: HUL, ITC, Zomato, Paytm, UltraTech, Dixon, MphasiS

Stocks to watch on Friday: Shares of ITC and Hindustan Unilever will react to Q2 results today; while the former posted 6 per cent growth in net, the latter's consolidated net was down on a YoY basis.

ITC Hotels brand Storii to set up presence in Kolkata, slated to open 2024

ITC Hotels on Monday announced the signing of its first 'Storii' property in West Bengal. The property will be located near the metropolis and is slated to open in early 2024. According to a company spokesman, ITC Hotels already has three 'Storii' properties which are presently operational in Goa and Dharamshala. The Kolkata property will have 30 keys, the spokesman said. Anil Chadha, divisional chief executive of ITC Hotels, said "ITC Hotels has a strong presence in Kolkata. The 'Storii' property will be a boutique resort away from the hustle and bustle of metro life." ITC's Storii hotels are boutique properties with each having a unique 'story' owing to its architecture, location, heritage, theme or facility offerings. Ravi Todi, director, South City Projects (Kolkata), said that this is the first hospitality venture of the property developer which will bring a world-class boutique resort with a Spa.

Higher compliance has boosted monthly GST collections: CBIC chief

CBIC chief Sanjay Kumar Agarwal on Thursday said increased monthly GST collections are mainly on account of higher compliance, and the GST Council's decision to tighten return filing and registration process would help reduce fake ITC claims in evasion prone sectors, including iron and steel. Agarwal said the Central Board of Indirect Taxes and Customs (CBIC) has received suggestions regarding streamlining tax rates in evasion-prone sectors and all that is being discussed. The Goods and Services Tax (GST) collection was Rs 1.87 lakh crore in April and in the first four months of the current fiscal, the collections have averaged Rs 1.67 lakh crore. "The buoyancy of revenue is 1.43 of nominal GDP growth meaning thereby revenue collection is not entirely on account of growth in GDP, but a major contribution is made by increased compliance level," the CBIC chief said at the Ficci Cascade event here. Tax buoyancy explains the relationship between changes in government tax revenue growth

Can't block ITC for GST on obligatory transport for women employees: AAR

Authority's ruling in Tamil Nadu would hold precedence in states where employers are obliged to drop women staff at specific hours, say experts

Behind ITC's hotels demerger

Why ITC threw down the gauntlet with the demerger of its hotels business

Nestle to sell 40 gm Maggi packets for Rs 10 to expand market share

Price points such as Rs 5 and Rs 10 are easier to remember and are perceived as being affordable by customers

ITC launches dairy products in Jharkhand under 'Aashirvaad Svasti' brand

Diversified city-based conglomerate ITC Limited Monday announced its entry in the dairy business in Jharkhand with the launch of various products under its 'Aashirvaad Svasti' brand. The company will offer a slew of dairy products like milk, curd, paneer, lassi and 'mishti doi' (sweet curd) to the consumers of the state, a company statement said. Sanjay Singal, ITC chief operating officer (dairy and beverages), said the company has expanded its milk-based offerings to Jharkhand after establishing a strong brand presence in Bihar and West Bengal. "The dairy products offered by the company are differentiated and innovative and have become an established brand in these two states within a short span of five years," he said in the statement. The Aashirvaad Svasti dairy products will be available across 2000 general and modern trade outlets across Jharkhand, it added.

3-layered security, army snipers: Delhi is ready for Joe Biden's G20 visit

Ahead of Joe Biden's visit and the G20 Summit, New Delhi has beefed up its security

ITC to invest Rs 1,500 cr to set up food manufacturing plants in MP

Diversified group ITC on Sunday said it will invest around Rs 1,500 crore to set up an integrated food manufacturing and logistics facility and a sustainable packaging products manufacturing facility at Sehore in Madhya Pradesh. The two projects spread over an area of nearly 57 acres will give a boost to agricultural and manufacturing sectors in Madhya Pradesh, ITC said in a statement. "The two projects, when complete, would entail a total investment outlay of Rs 1,500 crores which will support livelihoods across sustainable value chains," it said. While the food plant will manufacture ITC's products including atta brand Aashirvaad, Sunfeast biscuits, and 'YiPPee!' noodles, the moulded fibre products facility will be a pioneer in sustainable packaging, contributing to plastic substitution in areas such as packaging for electronic items, FMCG, and the food and beverage sector. "ITC's investment in the food processing sector through the facility at Sehore is poised to add value to th

Seeing green shoots of pickup on volumes as inflation moderates: ITC CMD

As inflation is moderating, diversified group ITC is seeing green shoots of volume growth and expects the momentum to continue sequentially, its Chairman and Managing Director Sanjiv Puri said on Sunday. This will certainly lead to improvement in volume, but it will not happen overnight, said Puri here on the sidelines of the B20 Summit organised by the CII. Over the ITC's plan for the demerger of its hotel business, Puri said it is going to benefit the existing shareholders by incorporating a wholly-owned new subsidiary ITC Hotels Ltd. "It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses," Puri told PTI. It is a "very robust" model, which will help the business to make the hotel business accelerate progress, whilst retaining synergies and it will improve the financial metrics of ITC, he added. Over inflation, Puri said this is

Extreme weather to stay, we should adapt strategies towards ESG: ITC chair

The frequency and intensity of extreme weather events are increasing globally and businesses should fine-tune their strategies towards Environment, Social and Governance issues, ITC Chairman Sanjiv Puri said on Sunday. Addressing the B20 Summit organised by the CII here, Puri said extreme weather events are impacting the earth as well as human life and requires a lot of attention. Extreme weather events have a deep impact on nature and therefore also on the Global South. This also goes into the design of urban infrastructure and industrial ecosystem, Puri added. This is also an area which is receiving a very small percentage of capital flows. It is certainly an area that requires lots of attention, Puri said. "This is a dynamic area and will require businesses also to adapt and fine-tune strategies in a dynamic way," Puri said while moderating a session here. Puri, who is also the Chair of B20 Action Council on ESG (Environment, Social and Governance) in Business said, "this has a

Elevated inflation trends may dig a deeper hole for FMCG stocks: Analysts

Investors have shunned consumer stocks with shares of HUL, ITC, Britannia, Godrej Consumer, Tata Consumer, and Nestle India dropping in the range of 1-11 per cent in a month

Sensex rebounds 507 pts from lows, ends 138 pts up; auto, IT stocks gain

Closing Bell on August 16, 2023: The shares of SBFC Finance, which debuted on Wednesday at a premium of 44 per cent, settled at Rs 92.2 per share, up nearly 62 per cent over issue price

ITC rises 2% in a weak market as brokerages give thumbs up to Q1 results

The company clocked 16.2 per cent year-on-year (YoY) rise in consolidated net profit to Rs 5,104.9 crore in Q1FY24

Tobacco-to-soap conglomerate ITC approves hotel business spin-off

The decision to spin off its upmarket lodging arm had been widely anticipated by analysts and investors

ITC board fixes share entitlement ratio at 1:10 for demerged hotels biz

Diversified entity ITC Ltd on Monday said shareholders will get one equity share of ITC Hotels for every 10 shares held in the demerged company (ITC Ltd), according to the entitlement ratio. At the board meeting of ITC Ltd held on Monday, it was decided that issuance of equity shares by the resulting company ITC Hotels Ltd to the shareholders of the demerged entity will be in the ratio of 1:10, according to a regulatory filing by the firm. The company said the scheme of demerger comprising hotels business of the demerged company into the resulting entity is on a going concern basis. Giving the rationale for the demerger, ITC said it is a diversified company engaged in various businesses including hotels. The hotels business of ITC has matured over the years and is well poised to chart its own growth path and operate as a separate listed entity in the fast-growing hospitality industry, whilst continuing to leverage ITC's institutional strengths, strong brand equity and goodwill, it

Sensex gyrates 696 pts, ends 79 pts up; Adani Ent down 3.5%, RIL gains 1.5%

Closing Bell on August 14, 2023: In the broader markets, the BSE MidCap and SmallCap indices underperformed the benchmarks as they fell 0.5 per cent each

ITC holding in hotel business key to its success, says CMD Sanjiv Puri

Move will help it use ITC logo and brands; entire demerger process may take 12-15 months

ITC AGM, Q1FY24 nos: When will the stock breakout from consolidation mode?

ITC shares have corrected 10 per cent from their record high level of Rs 499.6, hit on July 24, 2023, as investors booked profit post the hotel business' demerger announcement