British American Tobacco (BAT) has sold a 3.5% stake in ITC. The stake has been sold in a block deal. BAT has realised a total of Rs 17,491 crore from the sale. The transaction has taken place @ Rs 400/ share which is similar to the prevailing market price. Post this stake sale, BAT’s shareholding … Read more
British American Tobacco (BAT) is the largest shareholder in ITC holding 29.03% stake. It has informed that it is looking to reduce it’s stake as part of the Capital reallocation strategy. “We continue to pursue all opportunities to enhance balance sheet flexibility and, as part of this, we regularly review our stake in ITC. We … Read more
ITC‘s Chairman and MD, Sanjiv Puri has shared the following – Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible. concerns around monsoons this year can be a dampener (he didn’t mention it) ITC will accelerate investments across businesses back to … Read more
The mandate of the group includes analysing current tax structure of all forms of tobacco, including smokeless tobacco, and suggesting various tax rate models for consideration in the preparation of FY23 and future Union budgets. Key points to note – The idea is to have a road map for reducing tobacco demand as per World … Read more
VST has been one of the under performers in the current bull run. From the high of around Rs 4,500 in January 2020 stock is currently trading at Rs 3,500. I personally attribute the underperformance to Covid-19 and it’s related fear about Cigarette smoking. The same is also reflected in the reported financial performance by … Read more
Driven by industries like pharma, fast-moving consumer goods, education and IT, hiring activity in India saw a growth of 24 per cent in September compared to the previous month, according to a new report by job portal Naukri on Monday. Further opening up of the economy with unlock measures and increased mobility has led to … Read more