ITC Limited News

Diversified major ITC Tuesday announced that Y C Deveshwar will quit in February as Executive Chairman and CEO, posts he held for 20 years, and become a non-executive chairman.

Diversified group ITC Sunday said there is "progressive resumption" of production at its cigarette factories, which was suspended from May 4 over the large pictorial warning issue.

Helped by a near 10 percent rally, ITC has surpassed Infosys and HDFC Bank to emerge as the third most valuable company in terms of market valuation.

Major companies slated to announce their December-quarter results this week include Kotak Mahindra Bank, Wipro, Reliance Industries, Axis Bank, HCL Technologies, UltraTech Cement, Idea Cellular, Cairn India and ITC.

Diversified group ITC is expecting nearly three-fold jump in turnover of its agri division to touch Rs 18,000 crore in the next five years, driven mostly by procurement and retail initiatives in rural markets.

FMCG major ITC is set to debut its range of dairy product starting with ghee, which would be available in the market by the end of the current quarter, a top company executive said Monday.

ITC said it has not received any communication from the UP government regarding presence of excess lead in its instant noodle brand Sunfeast Yippee.

The combined market valuation of six of the top 10 most valued Sensex companies rose by Rs 28,618.35 crore last week, with ITC and CIL emerging as the biggest gainers.

ITC Ltd Thursday posted 3.61 percent rise in net profit at Rs 2,265.44 crore for the first quarter ended June 30, as compared to Rs 2,186.39 crore during the same period of 2014-15 fiscal.

FMCG major ITC Monday said it is conducting more tests on its products at accredited labs across India over and above internal tests to reassure its customers over safety in the wake of Maggi issue.

Shares of tobacco companies, ITC and Godfrey Phillips, fell by up to 4 percent Tuesday amid reports that Maharashtra has decided to ban sale of loose cigarettes.

IT giant TCS has been rated as the best company in India on various financial and operational parameters by Dun & Bradstreet.

The next batch of earning numbers of blue-chips including ITC and SBI will guide the stock market, while movement in rupee and crude will also impact the future course of action, say experts.

Shares of ITC fell by 2 percent Friday on concerns demand will be hit amid reports that the company will soon increase prices of cigarette brands like Classic and Gold Flake Kings by up to 15 percent per pack.

Shares of ITC today plunged 5 percent after government raised excise duty on cigarettes.

The more you tax cigarettes, the more is consumption of contraband tobacco products, said ITC Chairman Y C Deveshwar while expressing hopes of a "moderate Budget" this year.

Shares of cigarette companies such as ITC and Godfrey Phillips ended with more than 5 percent gains today following reports that the government proposal to ban sale of loose cigarettes is likely to be put on hold.

Sensex Wednesday recovered by 48 points to end at 28,386.19 on smart rise in bluechips, including ITC and HDFC, coupled with a spurt in realty shares, led by DLF, after government hiked floor area ratio in Delhi.