ITC Ltd (ITC)

Mixed Day for ITC Ltd on Stock Market - 09 May, 2024

ITC Ltd experienced mixed fortunes in the stock market today. While brokerage firm Emkay Global recommended it as one of several stocks poised for growth, political uncertainty led to broad-based selling of index heavyweights including ITC. However, experts still recommend buying ITC at current prices with a favourable risk-reward ratio.

ITC's Largest Shareholder May Sell Stake After Demerger - 07 May, 2024

British American Tobacco (BAT) is unlikely to have any representation in ITC's hotel business after its forthcoming demerger. BAT owns 15.32% stake in ITC Hotels and may sell its stake in the newly listed entity.

Kotak identifies ITC as a key beneficiary of new plastic waste management rules - 06 May, 2024

According to Kotak, innovative packaging companies such as ITC will be key beneficiaries of the new PWM rules. These companies can provide solutions for making plastic recyclable and offer economical alternatives to plastics.

ITC's Cigarette Sales Improve, Key Ingredients Witness Price Stabilisation - 05 May, 2024

ITC's cigarette sales volumes have improved due to less regulatory intervention in terms of taxation. Barley prices have stabilised and Extra Neutral Alcohol (ENA) prices are witnessing less inflation than estimated. Reduced glass bottle prices and a possible UK-India FTA Treaty could lower scotch prices and boost IMFL manufacturers' volumes.

ITC's Executive Director Discusses Future Growth Areas - 04 May, 2024

Hemant Malik, ITC's executive director of Foods Business, highlighted the need for technologies to reduce salt, sugar, and fat content in food as well as foods that boost nutritional and gut health. He also emphasized the impact of climate change on food security.

Indian Regulator Orders Inspections at ITC Spice Manufacturing Units - 02 May, 2024

The Indian regulator has ordered officials to conduct extensive inspections, sampling and testing at all of ITC's manufacturing units for powdered spices, with a focus on those making curry powders and mixed spice blends for local and foreign sales.

ITC's Fortune Hotels Plans Rapid Expansion - 01 May, 2024

Fortune Hotels, a member of ITC's hotel group, aims to open one new hotel per month during the current financial year.

ITC Expands Global Presence Through Fortune Hotels - 30 Apr, 2024

ITC Ltd expands its global presence through subsidiary Fortune Hotels, with a new property in Nepal and plans to open a property in Ayodhya. The move is expected to tap into the demand for spiritual destinations.

ITC Expands Hospitality Business with First International Property - 26 Apr, 2024

ITC Ltd's subsidiary, ITC Hotels, has opened its first international property, ITC Ratnadipa in Colombo, Sri Lanka. The conglomerate plans to expand its hospitality business globally through management contracts, targeting proximal markets such as the Middle East and Nepal. Additionally, ITC aims to launch around 70 hotels in India over the next five years. Sanjiv Puri also shed light on the demerger process, which is set to complete by year-end.

ITC Plans Demerger of ITC Hotels; Aims to Expand Hospitality Business - 25 Apr, 2024

ITC is set to demerge its hotel business into a separate listed subsidiary. The company also plans to expand its hospitality business by adding 70 hotels in India over the next five years and expanding overseas. Additionally, ITC launched a luxury hotel in Colombo through its subsidiary WelcomHotels Lanka.

ITC to Hold Shareholder Meeting for Demerger Approval - 24 Apr, 2024

ITC Ltd will host a shareholder meeting on June 6th to vote on the proposed demerger of ITC Hotels from ITC Ltd into a separately listed subsidiary. Increased buying interest has been seen in ITC May series futures and options.

ITC Chairman Highlights India's Growth Opportunities - 20 Apr, 2024

Sanjiv Puri, the Chairman and Managing Director of ITC Limited, spoke about India's growing economy and the opportunities for growth in both services and manufacturing sectors. He stressed the need for inclusive and sustainable growth to create livelihoods.

ITC Subsidiary Acquires Blazeclan Technologies - 19 Apr, 2024

ITC Infotech, a subsidiary of ITC Ltd., is set to acquire Blazeclan Technologies for Rs 485 crore to enhance its technological capabilities and accelerate future growth.

ITC Infotech Acquires Blazeclan Technologies - 18 Apr, 2024

ITC Infotech, a wholly-owned subsidiary of ITC Ltd, is set to acquire Pune-based cloud-services firm Blazeclan Technologies Pvt. Ltd. for up to Rs 485 crore in an all-cash deal. The acquisition will augment ITC Infotech's capabilities to service its customers in a multi-cloud and hybrid cloud environment with focus on the Partner eco-system to accelerate future growth.

ITC Claims Oppression by Hotel Leelaventure Promoters - 16 Apr, 2024

ITC has claimed oppression and mismanagement by the promoters of Hotel Leelaventure Limited, alleging that the sale of hotels to Brookfield benefitted promoter shareholders at the expense of other shareholders. ITC has challenged the transaction and alleged that it was structured to circumvent applicable laws for the benefit of the promoters who received Rs 300 crore or more out of deal consideration of Rs 4,250 crore.

ITC Shares Down Amidst Weak FMCG Market - 15 Apr, 2024

ITC Ltd shares have fallen by over 8% since the beginning of the year amidst a weak FMCG market. Chaudhary Group's India food unit plans to rival ITC's Yippee and Nestle's Maggi with new products and acquisitions.

ITC Ltd Reports Positive Q2FY24 to Q3FY24 Results - 14 Apr, 2024

ITC Limited, a leading FMCG group in India, reported positive movements in operating revenues and after-tax profit figures during Q2FY24 to Q3FY24. The company also exhibited a dividend yield of 3.53% and a nil debt-to-equity ratio. Return on equity (RoE) and return on capital employed (RoCE) were healthy during FY22-23.

Mutual Funds Bought ITC Shares Worth Rs 7,700 Crore in March - 13 Apr, 2024

ICICI Prudential MF topped the charts with a share purchase worth Rs 4,892 crore. Other funds that added ITC shares include DSP MFs, Kotak MF, Aditya Birla Sun Life MF, and Axis MF.

ITC Contributes to Record Highs in Indian Stock Market - 10 Apr, 2024

ITC Limited played a role in the record-breaking performance of the Indian stock market, as both the NSE Nifty 50 and S&P BSE Sensex reached all-time closing highs.