ITC Ltd

Selective FMCG stocks may rise up to 11 per cent, even if broader market loses more ground

The FMCG index too was seen outperforming the BSE benchmark in Thursday trade with a gain of nearly 1 per cent.

ITC group firm Fortune Park Hotels Ltd plans to add 15 new properties with 1,500 rooms in the next two-and-a-half years to its portfolio as part of its expansion across India, according to company Managing Director Samir MC. The hospitality firm, which currently has 42 properties with room inventory of around 3,200, is looking to cater to a strong domestic demand in smaller cities and also from pilgrimage tourism. "In a country like ours, we are very high on domestic travel, and that will just continue increasing at a higher rate than what the inbound would increase. So, definitely for a chain like ours, that's a key factor which defines our strategy of growth," Samir told PTI. Hence, he said, "We look at growing into various parts of the country, whether it's Tier one, Tier two, Tier three." Given the fact Fortune Park Hotels is a "hardcore Indian company", Samir said it understands the Indian consumers, their expectations and the behaviours very well, besides the cultural element

With a modest 1 per cent increase in duty on cigarettes and improving outlook for FMCG and Hotels, brokerages think ITC is well positioned for a strong FY24.

A new all-time high on Nifty FMCG index may trigger up to 25 per cent upside in selective stocks

Revenue from operations increased by 0.8% to Rs 17,122.15 crore from Rs 16,971.18 crore in the previous fiscal quarter

ITC stock needs to sustain over Rs 350 to embark a new bull-run

Shares of ITC were up nearly 4 per cent at Rs 365.65, surpassing its previous high of Rs 362, touched on November 11, 2022, on the BSE in intra-day trade on Wednesday.

Telangana Minister for IT and Industries K T Rama Rao on Monday inaugurated FMCG major ITC's Rs 450 crore state-of-the-art Integrated Food Manufacturing and Logistics Facility at Medak. The inauguration was done in the presence of Sanjiv Puri, Chairman and Managing Director, ITC Ltd, a press release form ITC said. Spread over nearly 59 acres of land, the food processing facility with a built up area of 6.5 lakh sq ft entails an initial investment outlay of Rs 450 crore which will create large scale livelihoods across sustainable agri-value chains. The future-ready facility, equipped with end-to-end digital infrastructure, will be producing ITC's world-class foods brands including Aashirvaad atta, Sunfeast biscuits, Bingo! chips and Yippee! Noodles among others, in phases, it said. Commenting on the launch of the facility, Sanjiv Puri said, "ITC has been strengthening its footprint in Telangana across all three sectors - agriculture, manufacturing and services. Encouraged by the ..

Brokerages expect strong growth for ITC's FMCG business led by price hikes, strong traction in discretionary categories (due to high mobility) & strong growth in education & stationary business.

Diversified entity ITC Ltd on Wednesday announced an initiative to promote millets in food as part of its steps to ensure food and nutritional security in the wake of challenges from climate change. The company will be putting together strengths of its agriculture, food and hospitality business verticals to promote millets with plans to introduce products with the cereal in most of its categories. Due to climate change, long period of extreme weather events raise a big issue of food and nutritional security despite all the steps taken up for decarbonisation and its mitigation, ITC Ltd Chairman and Managing Director Sanjiv Puri said addressing a virtual press conference. "I think it (millets) can certainly play a significant role in addressing this issue because millet is nutritious, planet-friendly and resilient. Millet uses 70 per cent less water than rice. It has 40 per cent less use of energy as compared to wheat in processing. It grows in half the time as wheat grows," he ...

If the moving average continues to bolster the index, the reversal could see most of the consumer index stocks performing better

Sproutlife Foods Private Limited is a startup engaged in the manufacturing and sale of food products under the trademark 'Yoga Bar'

As part of the ITC Next strategy, we are making sure that the organisation remains agile, nimble and consumer-centric at all times

A key lever of the ITC Next strategy is to spot new opportunities at the intersection of digital, sustainability and enterprise strengths

All analysts are bullish on the firm with target prices ranging from Rs 375 to Rs 490

The BSE MidCap index fell about 4 per cent in Samvat 2078, while the BSE SmallCap index added 0.4 per cent

Among prominent stocks, ITC, Dixon Technologies, Axis Bank and Bajaj Finance seem poised to rally up to 14 per cent; whereas Asian Paints is seen testing the crucial 200-DMA level at Rs 3,131.

In Q2FY23, ITC is expected to witness strong growth across segments considering lower sales in the base quarter of cigarettes, hotels & agri business.

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then