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ITC Hotels Demerger: What's the latest update all about?

ITC Hotels Demerger: What's the latest update all about?

Tue, Dec 17, 2024

Kolkata-headquartered cigarettes-to-hotels conglomerate ITC Ltd on Tuesday announced that a planned demerger of its hotels business into a separate company, ITC Hotels Ltd, will take effect from January 1. The conglomerate ITC on Tuesday said all conditions for the demerger are "fulfilled". Under the proposed demerger, ITC Hotels Ltd will issue equity shares directly to the shareholders of ITC to ensure that about 60 per cent stake is held directly by ITC shareholders in proportion to their shareholding in ITC while the remaining 40 per cent will remain with ITC. Read on to know important details about the proposed demerger between ITC Ltd and ITC Hotels Ltd.

FMCG giant ITC announces Jan 1 as the effective date for hotel business demerger

FMCG giant ITC announces Jan 1 as the effective date for hotel business demerger

Tue, Dec 17, 2024

ITC sets January 1, 2025, as the effective date for its hotels demerger, retaining 40% stake to ensure strategic support and future growth.

ITC scales up cultivation of medicinal, aromatic plants

ITC scales up cultivation of medicinal, aromatic plants

Sun, Dec 08, 2024

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.

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IIM Calcutta 2017 batch registers 100% placement in 3 days; Finance sector leads the offers made at 29%

IIM Calcutta 2017 batch registers 100% placement in 3 days; Finance sector leads the offers made at 29%

Fri, Mar 03, 2017

IIM Calcutta's Post Graduate Diploma in Management program students of 2017 batch have registered 100% placement within three days with the highest international package amounting to 90,000 euros (Rs 63 lakh) per annum.

Note ban punches holes in Q3 results; Cos hopeful of 'gains'

Note ban punches holes in Q3 results; Cos hopeful of 'gains'

Sun, Feb 19, 2017

An analysis of the latest-quarter results of listed firms shows that the government's ambitious exercise of withdrawing old Rs 500/1,000 notes led to adverse impact on businesses across the sectors, though not many have publicly criticised the move and the likes of Rajiv Bajaj are only an exception.

SUUTI's stake sale makes ITC share price jump over 5%

SUUTI's stake sale makes ITC share price jump over 5%

Tue, Feb 07, 2017

SUUTI had stake of 11.1% in ITC and after the 2% stake sale, it now stands at 9.1%.

ITC's Q3 net profit rises by 6% to Rs 2647 crore

ITC's Q3 net profit rises by 6% to Rs 2647 crore

Fri, Jan 27, 2017

The company reported net profit of Rs 2646.73 crore, a rise of 5.71% from Rs 2503.76 crore in the corresponding quarter of the previous. Also, the net profit was 5.86% up from Rs 2500.03 crore of the previous quarter.

ITC Q3 today: Demonetisation, cigarette sales key triggers

ITC Q3 today: Demonetisation, cigarette sales key triggers

Fri, Jan 27, 2017

Analysts added, "We model 5% yoy volume decline in cigarettes and 1% yoy growth in FMCG business; among other businesses, we model -15%, 5% and -7% growth in hotels, agri-business and paper boards respectively."

ITC to take MasterChef brand national with 'super safe' spices launch

Sun, Jan 15, 2017

Cigarettes to hospitality conglomerate, ITC is planning to launch 'super safe' spices in the last quarter of this fiscal year under the MasterChef brand, taking it national, a report by Business Standard said on Sunday.

7 among top 10 companies lose Rs 44,928 crore in m-cap; SBI worst-hit

7 among top 10 companies lose Rs 44,928 crore in m-cap; SBI worst-hit

Sun, Dec 25, 2016

Seven of the 10 most valued companies took a combined hit of Rs 44,928 crore in their market valuation last week, with State Bank of India (SBI) reporting maximum losses, even as the benchmark Sensex lost 1.69%.

Biscuit sales down post demonetisation, says Parle Products

Biscuit sales down post demonetisation, says Parle Products

Sun, Dec 25, 2016

The demonetisation drive has eaten into the growth momentum of the biscuits sector, which has seen sales fall by up to 1.5 percentage points, according to market leader Parle Products.

Six of top 10 companies take Rs 38,221 crore hit in mcap; CIL loses most

Six of top 10 companies take Rs 38,221 crore hit in mcap; CIL loses most

Sun, Dec 18, 2016

Six of 10 most valued companies took a combined hit of Rs 38,221 crore in their market valuation last week, with Coal India Ltd (CIL) bringing up the maximum losses, as the benchmark Sensex lost nearly 1%.

Bidi tax to benefit cigarette manufacturers most?

Bidi tax to benefit cigarette manufacturers most?

Mon, Dec 12, 2016

The government had last week mulled over taxing these products under the pretext of making healthier lifestyle choices. This tax, if implemented may share some of the tobacco excise revenue of which 87% is currently paid by cigarette companies.

Will this upcoming cigarette trend be hitting Indian markets soon?

Will this upcoming cigarette trend be hitting Indian markets soon?

Tue, Dec 06, 2016

A healthier way to smoke has been invented and analysts are pondering over when this trend will be taking over Indian markets.

ITC to invest Rs 800 crore on food processing, hotel in Odisha

ITC to invest Rs 800 crore on food processing, hotel in Odisha

Thu, Dec 01, 2016

Diversified group ITC will set up an integrated consumer goods facility and a five star hotel in Odisha at an investment of Rs 800 crore.

Top 6 companies take cumulative hit of Rs 57,015 crore in m-cap

Top 6 companies take cumulative hit of Rs 57,015 crore in m-cap

Sun, Nov 20, 2016

RIL saw a dip of Rs 4,508.29 crore to Rs 3,20,283.29 crore.

We will continue to sell premium cookies: Nikhil Sen, Unibic

We will continue to sell premium cookies: Nikhil Sen, Unibic

Tue, Nov 08, 2016

Nikhil Sen, Managing Director of Unibic Biscuits has seen a growth which is around two and half or three times more growth than what Britannia and ITC has seen over the last three years.

Sensex falls on fears drug makers may be charged in US probe

Sensex falls on fears drug makers may be charged in US probe

Fri, Nov 04, 2016

Indian shares fell to their lowest in nearly four months on Friday, led by drug makers, after Bloomberg reported that US prosecutors could file charges by year-end in a criminal investigation of generic makers over suspected price collusion.

SUUTI sells 1.63% stake in L&T for Rs 2100 crore

SUUTI sells 1.63% stake in L&T for Rs 2100 crore

Fri, Nov 04, 2016

Neeraj Kumar Gupta, secretary for Department of Investment and Public Asset Management, in New Delhi told reporters that the government had offered 1.5% of its stake in the company to investors but got offers for 1.63% stake.

ITC, VST, Godfrey jump as GST Panel sets tobacco rate at 65%

ITC, VST, Godfrey jump as GST Panel sets tobacco rate at 65%

Fri, Nov 04, 2016

Finance Minister Arun Jaitley led GST panel yesterday fixed the rate structure, under which they stated that tobacco will be taxed at 65% rate.

Domestic FMCG firms log more revenue than MNCs in FY16: Report

Domestic FMCG firms log more revenue than MNCs in FY16: Report

Mon, Oct 31, 2016

Country's seven leading FMCG companies have fared better than their multinational peers in terms of revenue growth in India during 2015-16 fiscal, says a report.

FMCG face low volume growth in Q2 FY17

FMCG face low volume growth in Q2 FY17

Thu, Oct 27, 2016

Second quarter did not prove to be much of a bright spot for the fast moving consumer goods (FMCG) industry as volume sales of top consumer product makers had marginally improved.

ITC's cigarette business grows against all odds

ITC's cigarette business grows against all odds

Wed, Oct 26, 2016

Overall, FMCG segment revenue recorded a growth of 13.3% during the quarter

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