MUMBAI: TCS, ITC, HCL Tech, Tata Motors, Idea Cellular and MRF are among the stocks identified by Ambit Capital that could fetch multi-fold returns. The brokerage has identified 30 stocks in the BSE 500 index based on accounting quality and corporate governance filters.

KOLKATA: ITC has made top-level management changes in its hotel business as part of the ongoing succession planning process. The conglomerate, which runs the country's second-largest hotel chain, has appointed hotel business chief operating officer Dipak Haksar as the unit's chief executive. Ranvir Bhandari, the division's vice-president, operations, will replace Haksar. With this, ITC executive director Nakul Anand (59), who was CEO of the hotel business till recently, will continue as director in a supervisory role. Haksar (58) and Bhandari (55) will be responsible for expansion and management of both ITC and WelcomHotels brands and will report to Anand.

Hindustan Unilever (HUL) and ITC, two of the biggest consumer goods companies in India, are set to square off in health care, a category that is rapidly gaining traction. Kolkata-based ITC, which acquired antiseptic liquid brand Savlon from Johnson & Johnson last year, is now launching what is possibly its biggest offensive against its Mumbai-based rival HUL.

Savlon Double Strength soap, launched in select geographies recently, will slowly but steadily be extended across markets, say officials in the know. Additionally, ITC will use its cigarette distribution network to push both Savlon soap and antiseptic liquid into rural areas.

New Delhi: ITC Ltd is building an exclusive supply chain for online retailers that will leverage the company’s extensive network of retailers and wholesalers to drastically cut the time to deliver its products, according to two company executives familiar with the development.

Trials for the model are already underway and it is expected to be rolled out by early next financial year.

After a gap up opening, markets have erased their early gains on account of profit booking. The selling pressure on the index heavyweights such as Tata Motors, Axis Bank, ITC has dragged the markets lower.

At 11:30 am, the S&P BSE Sensex was down by 5 points at 25,488 and the Nifty50 gained 4 points at 7,754.

Markets continue to maintain weak trend tracking weak global cues along with selling pressure among rate-sensitive and FMCG sectors leading the fall.

Global markets across the global witnessed negative activity after the much awaited European Central Bank (ECB) stimulus failed to meet the street expectations.

Benchmark indices continue to witness negative trend weighed down by index heavyweight shares like ITC, Tata Motors and HDFC.

Further, the Nikkei/Markit Services Purchasing Managers' Index fell sharply to 50.1 in November from October's eight-month high of 53.2.

Weeks after announcing two of its executive directors would retire soon, tobacco-to-consumer goods major ITC on Wednesday brought in more young blood at the senior management level.

ITC announced B Sumant has been made the president of the fast moving consumer goods (FMCG) business, including its flagship cigarette business, with effect from April 1, 2016. The position is currently held by Sanjiv Puri, who is being seen as a possible successor to Y C Deveshwar, whose term as chairman ends in 2017.

Benchmark indices continued to trade firm in noon deals on Friday with IT majors Infosys, TCS and Wipro leading the gains.

At 12:25 pm, the Sensex is up 157 points at 25,999 and the Nifty has gained 46 points to trade at 7,889. Broader markets are trading in line with the benchmark indices- BSE Midcap and Smallcap indices are up almost 1%.

Indian Hotels Company and ITC, which until last week controlled a quarter of the country's branded hotel room inventory, will find it difficult to retain their stranglehold as Marriott and Starwood mount pressure after their merger.

The Tata-controlled Indian Hotels Company, which has the century-old Taj brand, has been reeling from three consecutive years of losses. Increased room inventory by international chains, high debt and weak economic activity have taken a toll on the company.

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