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ITC shares up 9% as no cess on cigarettes was increased
Posted on 23rd September 2019
Mumbai: Shares of ITC Ltd on Monday surged over 9%, its biggest jump since March 2016, after the GST Council meeting did not announce any increase in cess on cigarettes.

The stock touched a high of ₹260.30 on the BSE and gained as much as 9.3%, its maximum gain since March 2016. At 9.40 am, the scrip was trading at ₹256.30, up 7.6% from its previous close. The stock’s market cap increased by nearly $3.66 billion.

Rivals, Godfrey Phillips India rose 2.56%, VST Industries gained 4.46% and Golden Tobacco advanced 4.3%

"No increase in cess and e-cigarettes ban announced earlier in the week is a big positive for ITC," said Jefferies India in a 23 September note.

"We now see a high probability of no cess hike in FY20, which would mark a second consecutive year of stable and rational taxation, which is helping recoup lost volumes from the illicit segment," Jefferies India added.

On 9 September, the government banned electronic cigarettes amid growing fears over the health risks posed by vaping. The government, on Wednesday, made manufacture, import, sale, distribution and advertisements of e-cigarettes a cognizable offence.

According to Jefferies India ban is also positive for ITC as e-cigarettes would potentially have resulted in a loss of market share in the medium term.

Given the sharp de-rating in line with global tobacco companies over the past couple of years and “the stock trading below -1 std dev valuation, the risk-reward seems attractive given an earnings boost of ~12% with the lower corp tax rate," the brokerage firm added.

Related Companies: ITC Limited   

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Sourav Ganguly set to take over as BCCI president
Posted on 14th October 2019
The Board of Control for Cricket in India is for the first time in its 91-year history poised to have a former India captain as its president when the much delayed annual general meeting takes place in Mumbai on October 23.

According to The Telegraph’s sources, Sourav Ganguly is set to become the board chief following high drama at the Trident in Mumbai on Sunday evening.


ICICI Bank’s new FD scheme: Fixed deposit with critical illness insurance cover
Posted on 14th October 2019
Private sector lender ICICI Bank today launched of FD Health, a fixed deposit (FD) offering the dual-benefit of investment growth via FD and protection through a critical illness coverage. For investors in FD Health, ICICI Bank will offer the insurance cover free of cost for the first year and thereafter, they can renew it.

Yes Bank, Indiabulls Housing are different peas stuck in same pod
Posted on 14th October 2019
A year ago, before the liquidity crunch manifested for non-banking financial companies (NBFCs), Yes Bank Ltd’s market capitalization was 1.5 times that of Indiabulls Housing Finance Ltd. Today, that difference has narrowed quite a bit as the adjoining chart shows.

Both the lenders have seen a massive erosion in their market value, but Yes Bank’s pain has been deeper.


As capacity additions gather steam, fuel supply concerns emerge at NTPC
Posted on 14th October 2019
Over the past month, shares of NTPC Ltd have remained powerless, down about 7%. The company said last week that it added 1,320 megawatts (MW), which takes it closer to its annual capacity target of 5,000MW. The capacity additions augur well, though, and the firm’s regulated business model assures a fixed return on invested equity.

Sensex, Nifty a tad higher as demand slowdown concerns kept gains in check
Posted on 14th October 2019
Mumbai: After a volatile opening, Indian markets on Monday rose nearly 0.5% led by gains in energy, auto and banking stocks. Sentiments were also improved after signs of progress in US-China trade negotiations.

At 12.12 pm, the benchmark Sensex Index rose 0.5% to 38306.29 points while Nifty advanced 0.5% to 11361.60 points.


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