ITC plans to expand its hotel business internationally, beginning with neighbouring countries and West Asia, its Chairman and Managing Director Sanjiv Puri said. The cigarettes-to-consumer goods conglomerate has demerged its hotels division and the new company will list on bourses in the next couple of weeks. The date of ITC Hotels Ltd listing is yet to be announced but Puri said it will happen in "next few weeks". India's most-valued consumer company selling a wide variety of goods from cigarettes to paper, also operates 140 hotels, almost all of them in India. ITC's shareholders will own 60 per cent in the new unit, with the parent company retaining the rest. "So as far as overseas is concerned, we are starting to (expand). We have been India-centric, but we have started to go beyond India. We have a hotel in Colombo. We have one in Nepal. There is one more in Nepal that we have signed up for. "And over a period of time, we will expand (overseas), primarily more focused on proxi
With transformative reforms of the past decade propelling India to global stage, it is India's moment in history, ITC Chairman Sanjiv Puri said, exuding confidence that the country will become a developed nation by 2047 on the back of strong macro fundamentals and purposeful policy interventions. India has risen from being the 10th largest economy in the world in 2014 to the fifth largest, driven by landmark reforms like GST and an unprecedented infrastructure push. The decade under Prime Minister Narendra Modi is hailed for landmark reforms, inflation control, financial inclusion and digitisation despite inheriting a weak economy. "In the new world order, which is characterised by new policies on geo-economics and geo-politics, I think the world is looking towards supply chain diversification, and supply chain resilience. "Because of the climate emergency, the world is looking at an energy transition. Digital transformation is another area that the world is going through. Food and
ITC Ltd chairman Sanjiv Puri, in an interview, firmly opposed the notion of mandating excessive working hours
The upcoming Union Budget is the near-term catalyst, where central government actions to revive consumption cycle would be key.
Even as hotel shares fell up to 5% on Monday; technical charts hint up to 15% upside potential for Mahindra Holidays, TAJ GVK, Apollo Sindoori, ITDC, EIH, Oriental Hotels and Advani Hotels.
The ITC Hotels' shares will not be listed on the NSE and BSE immediately after the record date, they are expected to list by mid-February 2025
As per the demerger scheme, eligible shareholders will receive one share of ITC Hotels for every 10 shares held in ITC, with an effective record date of January 6, 2025
The previous session closed out 2024 with mixed sentiments. Despite a strong recovery from intraday lows, the benchmarks ended in the red, weighed down by losses in IT & select banking shares
Technically, ITC is seen trapped in a thin range of Rs 460 - Rs 490 for now. Meanwhile, analysts at SBI Securities are optimistic of ITC's prospects post demerger and see 15% upside for the stock.
Lupin stock has broken out of a triple bottom pattern on the daily chart. It has also crossed above its key moving average suggesting bullish sentiment
ITC stock surged over 88 per cent after the company's board approved the hotel demerger in August 2023; at present levels, the stock is down 11 per cent from its peak. Key levels to watch out now.
ITC share price: 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
Thus far in the calendar year 2024, the FMCG index was up 1.4 per cent, as against 13.5 per cent rally in BSE Sensex.
ITC Agri Business Division is encouraging the cultivation of medicinal and aromatic plants to expand the conglomerate's presence in the fast-growing health and wellness products market in the food, personal care and other categories. The agri-division of ITC is working with farmers and helping them to diversify their crops by encouraging them to cultivate high-demand crops like Ashwagandha, Tulsi, and Kalonji in Madhya Pradesh and turmeric in southern states. Through this initiative, ITC looks to meet its requirements by chasing its FMCG ambitions and also leverages the B2B nutraceuticals space, bridging the demand-supply gap in the market, which has evolved rapidly after the pandemic. "As a part of the ITC Next strategy, the company's Agri-Business Division has pivoted its strategic focus towards rapidly scaling up its value-added Agri Products (VAAP) portfolio to accelerate growth and competitiveness. In line with the larger ITC NextGen Agriculture vision, we are focusing on ...
According to reports, the Group of Ministers (GoM) on GST rate rationalisation on Monday recommended a new slab of 35 per cent for tobacco, tobacco products and aerated drinks.
Higher inflation and lower purchasing by consumers, it seems, has taken a bite out of consumption-related stocks at the bourses, with most counters losing ground in the last few months
ITC's consolidated profit for the period came in at Rs 5,054.4 crore, up 1.8 per cent year-on-year (Y-o-Y), from Rs 4,964.5 crore in the same quarter a year ago (Q2FY24).
The GIFT Nifty indicated a flat start, with an uptick of 12 points at 6:35 AM, trading at 24,464.5
At 7:28 AM, GIFT Nifty indicated a flat opening as it was trading about 3.5 points lower at 24448.50 levels, as against Nifty Futures last close of 24,452.
Diversified entity ITC Ltd on Thursday reported an 1.8 per cent increase in consolidated net profit to Rs 5,054.43 crore for the second quarter ended September 2024. The company had posted a consolidated net profit of Rs 4,964.52 crore in the year-ago period, according to a regulatory filing from ITC. ITC's revenue from operations jumped 15.62 per cent to Rs 22,281.89 crore in the September quarter. It was Rs 19,270.02 crore in the corresponding quarter of the previous fiscal. The total expenses were 20.92 per cent higher in the September quarter to Rs 16,056.86 crore. ITC's revenue from operations grew 15.62 per cent to Rs 22,281.89 crore in the second quarter of FY25. The total income of ITC, which includes other income, rose 14.86 per cent to Rs 22,897.85 crore. It was Rs 19,934.9 crore a year ago. Shares of ITC Ltd on Thursday settled at Rs 471.85 per scrip on BSE, down 1.81 per cent from its previous close.