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In no hurry to become pan-India player in milk and curd, says ITC
Posted on 31st October 2018
Cigarette-to-soap maker ITC, which is on a dairy portfolio expansion spree, on Tuesday said it has no hurry to be a pan-India player in pouch milk and curd, and is currently focussing on the West Bengal and Bihar markets in these two categories. The diversified conglomerate is looking to launch paneer and flavoured milk in the next two months.

ITC looks to enhance portfolio, to enter paneer, milkshakes biz in 2 months
Posted on 30th October 2018
Diversified conglomerate ITC Limited has decided to enhance its dairy portfolio by entering the paneer and milkshakes segments within two months, a company official said Tuesday.

ITC had earlier forayed into the dairy segment with the launch of milk and ghee in select markets.

Up 12% in Q2: Cigarette, FMCG & hotel business pushes ITC net up at Rs 2,955 crore
Posted on 27th October 2018
Largely in line with street estimates, cigarette-to-hotel major ITC on Friday reported close to 12% year-on-year growth in its standalone net profit at Rs 2,954.67 crore for the second quarter ended September 30, with gross revenue soaring 14.7% y-o-y. Revenues from cigarette, non-cigarette FMCG and hotels businesses during the July-September period posted double-digit growth.

BAT turns down ITC proposal to hand out ESOPs
Posted on 6th October 2018
MUMBAI: British American Tobacco (BAT) defeated a special resolution to grant stock options to employees of ITC and its subsidiaries in a move that rekindled memories of the battle for control between the overseas shareholder and the Indian company’s management that raged two decades ago.

Tata's Indian Hotels outbids ITC, retains Taj Mansingh for another 33 years
Posted on 28th September 2018
Indian Hotels Company (IHCL) will retain the capital’s iconic luxury hotel Taj Mahal (popularly known as Taj Mansingh after the road on which it is located) for another thirty-three years. The Tata Group company, which operates a chain of luxury hotels under the Taj brand, emerged winner in an e-auction conducted by NDMC, the city’s civic body. IHCL outbid ITC, the only other bidder for the hotel on Friday.

M&As crucial for ITC to reach Rs 1 trn revenue from non-cigarettes FMCG biz
Posted on 4th September 2018
ITC is on a war footing. The Kolkata-based diversified conglomerate, which aims to garner revenues of Rs 1 trillion from non-cigarettes fast-moving consumer goods (FMCG) business by 2030, is preparing to venture into at all possible products categories. It is also exploring mergers and acquisitions.

ITC hits fresh 52-week high; stock surges 17% in one month
Posted on 17th August 2018
Shares of ITC hit a fresh 52-week high of Rs 315, up 2.5% on the BSE in early morning trade, extending gains of the past 4 weeks after the company’s June quarter net profit beat the Street estimates.

The stock of fast moving consumer goods (FMCG) company was the largest gainer among the S&P BSE Sensex at 09:38 am. It outperformed the market by surging 17% in past one month, as compared to a 4% rise in the benchmark index.

Wipro, ITC, Cadila take lead in race to acquire Complan
Posted on 13th August 2018
Mumbai: ITC Ltd, Wipro Consumer Care & Lighting Ltd and Cadila Healthcare Ltd are readying to submit binding offers to buy Kraft Heinz India’s popular nutritional drink brand, Complan, two people directly aware of the development said. All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard—managing the transaction, the people cited above said, requesting anonymity as the discussions are private.

ITC likely to buy GSK-owned Horlicks brand in India if valuation is right
Posted on 28th July 2018
ITC Ltd may consider the acquisition of GSK-owned Horlicks brand in India, provided its valuation is right. The bid is expected to be opened next month. However, ITC is not interested in the Complan brand of health drinks from Kraft Heinz.

It is suggested that in case of a takeover of this brand, the acquirer may also have to take over several other brands like prickly heat powder Nycil and glucose drink Glucon D.

ITC net up 10% as excise duty expenses drop significantly
Posted on 27th July 2018
Beating market expectations, cigarette-to-hotel-to-FMCG major ITC on Thursday reported a 10.08% year-on-year (y-o-y) rise in its standalone net profit to Rs 2,818.68 crore for the first quarter ended June 30, with total expenses falling and revenue from the non-cigarette FMCG business soaring during the period.

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