Tag: ITC

ITC hits 52-week high on robust Q4

ITC hits 52-week high on robust Q4

29/05/2017 11:50

Shares of FMCG major ITC rose nearly 4 per cent, hitting 52-week high, on the Bombay stock Exchange after the company reported a 12.13 per cent growth in its standalone net profit at Rs 2,669.47 crore for the fourth quarter ended March 31, 2017, helped by spurt in revenue from cigarette segment.

Boosted by strong Q4, shares of the company gained as much as 3.64 per cent to hit 52-week high of Rs 319.90 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 316.40 against previous close price of Rs 308.60.

In a similar fashion, stocks of firm were trading 2.43 per cent higher at Rs 316.60 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 31,060.97, up 32.76 points or 0.11 per cent, at 11:35 hours.

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Markets extend gains; Infosys, ITC shares advance

09/12/2016 10:20

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking firm cues from Asian peers as investors were buoyed by strong rally in US markets after the European Central Bank trimmed the size of monthly asset-buying programme, with a pledge to maintain quantitative easing beyond 2017, if required.

The traders also got some support with CBEC Chairman Najib Shah’s statement that the GST Council may in future decide to reduce the tax slabs under the Goods and Services Tax regime after analysing the revenue garnered and the compensation payouts to states.

The market may also see some buying from foreign portfolio investors, who have turned net buyers.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26758.82 up by 64.54 points or by 0.24 per cent, while the NSE Nifty was at 8255.3 points, trading higher by 8.45 points or by 0.1 per cent.

The BSE Sensex touched an intraday high of 26803.26 and an intraday low of 26707.81 while the NSE Nifty touched an intraday high of 8271.9 and an intraday low of 8241.95

The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 999.50,+1.50 per cent), ITC Ltd. (Rs. 236.00,+1.29 per cent), Tata Motors Ltd. (Rs. 466.90,+1.21 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 304.90,+0.94 per cent), Asian Paints Ltd. (Rs. 942.50,+0.76 per cent), among others.

Meanwhile, Bajaj Auto Ltd. (Rs. 2744.90,-1.04 per cent), Coal India Ltd. (Rs. 309.10,-0.99 per cent), Housing Development Finance Corporation Ltd. (Rs. 1277.50,-0.75 per cent), HDFC Bank Ltd. (Rs. 1191.50,-0.70 per cent), Hero MotoCorp Ltd. (Rs. 3286.85,-0.67 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was storng. On BSE out of total 1981 shares traded, 1176 shares advanced, 703 shares declined while 102 were unchanged.

On the global front, Asian stocks were trading higher today after the European Central Bank (ECB) trimmed the size of its asset purchase programme. US stocks closed higher in the previous trading session after ECB pledged to continue with its programme of money printing to shore up the euro zone recovery but surprised financial markets by reducing the amount of stimulus it expects to provide each month.

ITC Q2 net up 10.5% at Rs 2,500 cr

ITC Q2 net up 10.5% at Rs 2,500 cr

26/10/2016 15:50

India’s biggest cigarette maker ITC Ltd on Wednesday reported a growth of 10.5 per cent in its standalone net profit after taxes (PAT) at Rs 2,500.03 crore for the second quarter ended September 30, 2016 as cigarette sales increased 7 per cent.

“The standalone net profit of the Kolkata-based company stood at Rs 2,262.5 crore during the same period a year ago,” said ITC Ltd in a filing to the Bombay Stock Exchange on October 26, 2016.

Further, the standalone total income of the company grew by 8.4 per cent at Rs 14,091.96 crore during Q2 2016-17, as compared to Rs 13,003.86 crore during the same period last year.

The revenue from operations of ITC rose 7.8 per cent at Rs 13,491.37 crore for the quarter under review as against Rs 12,511.76 crore during September quarter of the previous fiscal, ITC Ltd said.

“The company delivered another quarter of steady performance despite a challenging operating environment marked by continuing pressure on legal cigarette industry volumes, increase in input cost and subdued demand conditions prevailing in the FMCG industry,” ITC said in a statement.

Revenue from the total FMCG business including cigarettes increased 8.5 per cent to Rs 11,200.13 crore from Rs 10,321.08 crore in the corresponding quarter of 2015-16.

During the quarter, revenue from cigarettes increased 7.1 per cent to Rs 8,528.47 crore from Rs 7,963.10 crore in the year-ago period.

The revenue from company’s hotel business rose by 2.50 per cent to Rs 297.34 crore, while its agri business grew by 1.96 per cent to Rs 1,880.06 crore.

“Segment revenue during the quarter was flattish in comparison to the corresponding period in the previous year reflecting the subdued operating conditions in the Indian hospitality industry, which continues to be impacted by excessive room inventory in key domestic markets and sluggish macroeconomic environment both in India and major source markets,” the company said.

Buoyed by earnings, shares of ITC closed at Rs 238.90 apiece, up 0.06 per cent, from previous close on BSE.

Positive trade continues at D-Street; PSU, Bank stocks lead

24/10/2016 13:29

Indian equity benchmarks were trading in the positive territory during the afternoon session on Monday on increased buying by funds and retail investors amid firm cues from fellow Asian peers.

At 1:02 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,186.15, up by 108.97 points or 0.39 per cent while the NSE Nifty was at 8724.35, up by 31.3 points or 0.36 per cent.

Buying momentum was witnessed mainly in the public sector undertaking and banking sector stocks.

Meanwhile, volatility remain high at the domestic bourses as traders roll over their positions ahead of October Futures & Options (F&O) expiry on Thursday.

Also, traders keenly eyed the September quarter earnings of Adani Power, Axis Bank, Idea Cellular, Reliance Capital, Asian Paints, Bharti Airtel, Dr Reddy’s, HDFC Bank, HDFC, Hero MotoCorp, HUL, ITC, IOC, Maruti Suzuki India and ONGC which will be unveiled this week.

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 285.50,+2.81%), Adani Ports & Special Economic Zone Ltd. (Rs. 292.65,+2.41%), State Bank of India (Rs. 264.05,+2.19%), Lupin Ltd. (Rs. 1527.05,+1.88%), Tata Motors Ltd. (Rs. 554.30,+1.79%), among others.

Major show spoilers were Wipro Ltd. (Rs. 482.50,-3.35%), Asian Paints Ltd. (Rs. 1135.00,-1.60%), Bharti Airtel Ltd. (Rs. 306.00,-1.10%), Axis Bank Ltd. (Rs. 521.90,-0.89%), Infosys Ltd. (Rs. 1031.05,-0.68%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2936 shares traded, 1724 advanced while 966 shares declined and 246 remained unchanged.

On the global front, most of the Asian markets ended in the green.

Markets remain volatile; ICICI Bank, ITC shares dip

19/10/2016 10:20

The key domestic benchmark indices were trading in a negative terrain in the morning trading session as volatility was witnessed across the bourses. Shares of NIIT, Hindustan Zinc and Tata Coffee will be in focus as these companies reveal their September quarter earnings. Optimism over the Indian economy amid swift progress on the implementation of GST and firm growth focus by the RBI may buoy sentiments later in the day.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27994.35 down by 56.53 points or by 0.2 per cent, while the NSE Nifty was at 8669.2 points, trading lower by 8.7 points or by 0.1 per cent.

The BSE Sensex touched an intraday high of 28131.07 and an intraday low of 27977.77 while the NSE Nifty touched an intraday high of 8698.75 and an intraday low of 8660.6 The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 442.00,+2.92 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 756.45,+1.68 per cent), Wipro Ltd. (Rs. 488.55,+1.50 per cent), Lupin Ltd. (Rs. 1497.00,+1.03 per cent), Axis Bank Ltd. (Rs. 537.40,+0.96 per cent), among others.

Meanwhile, ICICI Bank Ltd. (Rs. 266.50,-1.44 per cent), ITC Ltd. (Rs. 242.70,-1.26 per cent), Tata Consultancy Services Ltd. (Rs. 2374.25,-1.00 per cent), Mahindra & Mahindra Ltd. (Rs. 1320.00,-0.89 per cent), Hindustan Unilever Ltd. (Rs. 846.95,-0.89 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2198 shares traded, 1325 shares advanced, 758 shares declined while 115 were unchanged.

On the global front, Asian stocks were trading higher today as China’s economy was stable in the September quarter, while oil prices rallied. US stocks closed higher in the previous trading session as robust Q3 earnings from the likes of Goldman Sachs and Netflix, coupled with improving US inflation boosted the sentiments.

ITC to invest Rs 4,000 cr to set up to 9 plants

ITC to invest Rs 4,000 cr to set up to 9 plants

28/06/2016 16:12

ITC will invest Rs 4,000 crore over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food products,l reported PTI.

“We plan to put 8-9 massive factories over the next 2-3 years and we will invest about Rs 4,000 crore to manufacture products across different categories we operate in,” ITC Foods CEO V L Rajesh told PTI.

ITC’s branded packaged foods division grew by around 11 per cent to clock a turnover of Rs 7,097.49 crore in 2015-16. Food is the second largest business for ITC after cigarettes.

The company, which recently expanded its new Sunfeast Farmlite biscuits portfolio catering to health conscious consumers, is looking at tapping this fast growing consumer segment.

“Health segment of the biscuit market is about one per cent of industry right now but it is growing the fastest. Key approach is to have a full portfolio across segments. We will make a big play in this segment for sure,” Rajesh said.

He further said: “Our claims on health benefits are validated by our labs and research centre in Bengaluru. We recently launched Sugar release control Aashirvaad Atta for people who have sugar issues. We back our claims with science.”

Sunfeast Farmlite biscuits also has multiple variants in the Oats range – Oats with Almonds, Oats with Raisins and Oats with Chocolate.

The company entered into the dairy segment with Ghee in October last year and launched dairy whitener in North East this month.

“We are testing waters with all products… You will see lot of action (with new launches),” Rajesh said, when asked when would the company make these products pan India.

Market cap of top 8 Sensex firms jumps Rs 21,296 cr

Market cap of top 8 Sensex firms jumps Rs 21,296 cr

14/03/2016 15:33

The overall market capitalisation of eight of the top ten Sensex firms climbed by Rs 21,296 crore last week led by HDFC which emerged as the biggest gainer, while Infosys and CIL were the lone losers.

The market cap of HDFC jumped by Rs 4,777.47 crore to Rs 183,004.82 crore last week when the 30-share Sensex logged a second straight weekly gain, advancing by 72 points to end at 24,717.99 driven by robust foreign fund flows amid hopes that the RBI may cut interest rates as the government stuck to its fiscal prudence commitment, and on strong global cues after ECB’s robust easing measures and an oil price rally.

ITC witnessed an Rs 4,100.76 crore rise in its market value to Rs 258,187.17 crore last week while the market cap of ONGC surged by Rs 3,507.75 crore to Rs 175,473.10 crore.

The market capitalisation of RIL surged by Rs 3,012.13 crore to Rs 329,082.12 crore while that of drug major Sun Pharma climbed by Rs 2,539.03 crore to Rs 208,838.67 crore.

HDFC Bank’s market cap advanced by Rs 1,870.26 crore to Rs 259,928.45 crore last week while that of TCS jumped by Rs 1,369.45 crore to Rs 466,203.25 crore and that of HUL rose by Rs 119.01 crore to Rs 183,745.09 crore.