Brokerage JM Financial expects PAT to decline 6.4 per cent YoY to Rs 3,554.9 crore during the quarter ended March 2021
With today's decline, the stock of ITC has slipped 8 per cent from its 52-week high level of Rs 239
ITC's FMCG business is expected to continue its growth momentum with higher growth in packaged foods categories, brokerages believe
Analysts view the development as negative for ITC, Godfrey Phillips and VST Inds
Key monitorables include cigarette volume growth, outlook on hotel, and paper businesses.
ITC would respond with agility to strengthen its market standing while sharply focusing on cost reduction measures, Puri reassured shareholders
During the period under review, ITC's stock surged dipped 27.7 per cent as compared to a 9 per cent fall in the NIfty FMCG index.
The sector witnessed the last steepest decline in 2015 when sales volume contracted by 8.2 per cent
Firm's acquisition of Kolkata-based Sunrise Foods is a step forward in its bid to strengthen spice business
Coffee Day is under pressure to pare borrowings after its founder V G Siddhartha took his own life as debt strains began to emerge in his companies
At stake is a 110 billion per annum sticks cigarette market with 11.3% of world's cigarette smokers in India
Growing brand size, higher capex and strong distribution network would support the company's other-FMCG business
Cigarettes and FMCG (fast moving consumer goods) together account for 70 per cent of ITC's sales and 90 per cent of profits