ITC Ltd (ITC)

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.

ITC Ltd Shows Strong Growth Potential - 06 Apr, 2024

ITC Ltd has shown impressive growth potential with a 15% increase in EPS over three years and a 2.0 percentage point improvement in EBIT margins to 35%. The high level of insider ownership adds to the positive outlook for the stock.

ITC Foods Aims for Volume-Led Growth in FY25 - 05 Apr, 2024

ITC Foods is targeting volume-led growth in FY25, with an expanded summer portfolio and enhanced reach in smaller geographies. The company expects to grow faster than each of the categories it operates in and gain a share.

ITC Ltd Stock Down Over 12% from January High - 04 Apr, 2024

Shares of ITC Ltd have fallen over 12% from their January high, trading at Rs 421 in the current session. Analysts suggest a positive outlook for the stock with resistance levels at Rs 429, Rs 433 and Rs 438. The overall trend looks positive, but price is anticipated to trade sideways until clearing key barriers at Rs 438 and Rs 445. Relative strength index (RSI) stands at 54.8, signaling neutral territory.