ITC Ltd, India's largest cigarette maker, is in talks with Century Textile and Industries Ltd to buy its paper division in a bid to diversify revenue to non-tobacco businesses, said two sources directly involved in the deal.
Every year, consumers are used to the cola majors slugging it out in the heat of the summer, trying to outdo each other. But this summer, there is a fight of a different kind emerging in a related category.
Frontline consumer stocks took a beating on Monday as the market fears the sector’s top line growth would suffer due to a slowing in rural demand. The market is justifiably worried about the sector’s growth in the face of stretched valuations.
The top ten stock picks of India's equity mutual fund managers underwent a sharp re-shuffle in 2014-15. MF managers not only changed their preferences for stocks but also ousted three heavyweight counters from their top holdings during the year,
Diversified conglomerate ITC Ltd on Saturday said it was in the process of setting up 20 factories for its FMCG products as it aims to garner Rs 1 lakh crore revenue from that business alone by 2030."We are in the process of building 20 factories.
After a gloomy period, ITC’s pricing power finally lit up the stock, as the company seems to have decided to raise the buck from customers.The scrip closed on Thursday at Rs 346.25, up by 2.35 per cent.
The steep increase in excise duty is expected to hit cigarette consumption in the country. There is a perceptible shift in the government's policy towards cigarette consumption, which is expected to hurt ITC's earnings in the coming years.
Tobacco-to-hotel entity ITC has lost 13 per cent of its market value, or Rs 40,428 crore, since Budget day due to a sharp rise in the excise duties on cigarettes proposed by Finance Minister Arun Jaitley.
ITC, which lost 8.5% of its market value or Rs 26,058 crore on the Budget day due to the sharp hike in duties on cigarettes, should look at demerging its consumer products and hotels businesses into separate companies to unlock value for its shareholders,
Finance Minister Arun Jaitley has proposed a 25% increase in 65 mm cigarettes and 15% in other categories, which is more than what the market had anticipated.Market leader, ITC's stock tumbled 8% on news of the steep hike.
ITC Hotels, India's second largest hotel chain, has gained over 1% to Rs 395 on the BSE after it won the bid to acquire Park Hyatt Hotel property in Goa owned by Blue Coast Hotels that had been put up for public auction by IFCI.
ITC Hotels, India's second largest hotel chain, has emerged as the highest bidder for Goa-based Park Hyatt property, which was put on the block by IFCI. But the original owners allege the property is being sold at a throwaway price.