Tobacco Companies

Homegrown FMCG firm Dharampal Satyapal Group is planning to spend about Rs 125 crore this fiscal on advertising, marketing, stepping up distribution network in tier II and III cities and in quick commerce for its core brand Catch Spices, which has entered the Rs 1,000 crore club, a top company official said. The group plans to introduce new products such as rasam powder and others to suit tastes in south India under its Catch Spices brand as it seeks to penetrate in the region as part of an overall strategy to grow at a CAGR of 30 per cent in the next five years. "We are on the path of growth. In 2023-24 we crossed Rs 1,000 crore mark in salt and spices (under the Catch Spices brand) and we are optimistic about the category," Dharampal Satyapal (DS) Group Vice Chairman Rajiv Kumar told PTI. However, he said it is a very tough category for any new entrant to get into. "We have grown around 22 per cent CAGR over the years. In the last two years we have grown at a CAGR of 24 per cent.

British firm will use the proceeds of block trades to buy back own shares

Manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1. The move is intended to curb revenue leakage in the tobacco manufacturing sector. The Finance Bill, 2024, introduced amendments to the Central GST Act, where a penalty of Rs 1 lakh would be levied for every machine not registered. Further, such non-compliant machinery would face the risk of seizure and confiscation in certain cases. Based on the recommendation of the GST Council, the tax authorities had last year notified a special procedure for registration of machines by tobacco manufacturers. The details of existing packing machines, newly-installed machines, along with the packing capacity of these machines, have to be furnished in Form GST SRM-I. However, there was no penalty notified for the same. Revenue Secretary Sanjay Malhotra said the GST Council in an earlier .

New investments haven't kept pace with money flowing in from operations

Leading cement maker ACC Ltd, now a part of Adani Group, said it will not conduct any independent investigations against the allegations of financial misconduct made by the short-selling firm Hindenburg Research. Adani Group had already undertaken a review by independent law firms, whose opinions confirmed that the company is in compliance with the requirements of applicable laws and regulations, said ACC Cement while declaring its quarter results on Thursday. "Based on the foregoing and pending final outcome of the regulatory investigations and related proceedings as mentioned above, the Company has decided to not carry out any separate independent Investigation in the matter, and the financial results do not carry any adjustments in this regard," it said. Hindenburg on January 24 accused Adani of "brazen stock manipulation and accounting fraud" as well as using a "labyrinthian network" of shell companies for surreptitious money movements, allegations that the conglomerate has ...

All analysts are bullish on the firm with target prices ranging from Rs 375 to Rs 490

The governments and the public around the world should be aware that greenwashing by the tobacco industry is increasing and needs to be countered: WHO

The seventh "WHO report on the global tobacco epidemic" said blocking the industry's interference was critical to cutting the harm from tobacco use

Since 2006, Formula 1's ruling body FIA has been firmly opposed to any advertising or sponsoring of cigarettes or tobacco

Tobacco companies still manage to systematically target school children as young as eight. They do this by giving free tobacco products, selling them or placing advertisements near schools

Matthew Myers, president of the Campaign for Tobacco-Free Kids said ads would be less effective than intended because fewer people read newspapers and watch television

The Bombay High Court (HC) on Thursday impleaded cigarette major ITC, market regulator Securities and Exchange Board of India (Sebi) in the public interest litigation (PIL) against investment in tobacco companies by the government and state-owned insurance companies. The court also granted farmers' association request to be part of the PIL.The court directed the new respondents to file their respective affidavits in reply to the petition within six weeks. The next hearing in the matter is likely within eight weeks.Additional Solicitor General of Bombay will represent the Indian government in the matter.The PIL has been filed by a group of seven citizens, which includes Tata Trusts' managing trustee R Venkataramanan, against the government and six other state-owned insures) seeking divestment of their holding in tobacco companies and also prevent them from such investments in the future.Life Insurance Corporation (LIC), The New India Assurance, General Insurance Company of India, The ..

The Bombay High Court on Monday asked the government to submit its reply on the petition against its investments in tobacco companies. A group of seven citizens, which includes Tata Trusts' managing trustee R Venkataramanan, last week filed a public interest litigation (PIL) in the Bombay HC against the government and six other state-owned insures include Life Insurance Corporation (LIC) seeking divestment of their holding in tobacco companies and also prevent them from such investments in the future.The government, along with the six state-owned insurers, has investments worth more than Rs 1 lakh crore in cigarette maker ITC.The court will decide on the admission of the plea on April 27. The court also issued notices to the Union of India through Secretary, Ministry of Health & Family Welfare seeking a response to the PIL.Waseem Pangarkar, the counsel representing the petitioners, pleaded before Chief Justice Manjula Chellur and Justice GS Kulkarni to offer an early hearing for ..

This regulation, which came into force in April, saw tobacco companies halt production in protest, challenging the ruling in court