Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
ITC Ltd, one of India’s largest consumer products makers with a pan-India presence and dozens of major brands under its belt, has invested Rs 20 cr to get a 16% stake in a Kolkata-based company that makes baby and mother care products. The deal values ‘Mother Sparsh’ at Rs 125 cr after investment, or Rs […]
ITC Ltd said its performance during the second quarter was relatively subdued due to “severe pressure” on the cigarette industry and sluggish demand conditions prevailing in the FMCG industry. Operating conditions in the Agri Business and Hotels Segment also remained challenging, it said. On a comparable basis, Gross Sales Value’ stood at Rs 16,391.58 crores […]
ITC Ltd, the biggest Indian-owned FMCG brand, said it had not got any information or notice from the government of Uttar Pradesh about excess lead in its YiPPee brand of noodles and pasta. The company was responding to media reports that said that the UP Government’s Food and Drug Administration had detected excess lead in […]
