ITC

ITC trades flat as stock turns ex-date for dividend of Rs 6.25 per share

ITC said the dividend will be paid between July 22, 2022 and July 26, 2022 to entitled members.

The surge in the counter assumes significance as the broader market was in the negative territory mirroring weak trends in global equities

CLOSING BELL: The Nifty IT index plunged 6 per cent on the NSE today after global brokerage JPMorgan downgraded the sector to "underweight".

Stocks to Watch today: Ashok Leyland, Bosch, Chambal Fertilisers & Chemicals, Container Corp, Dr Reddy's will be in focus ahead of their Q4 results today.

Cigarettes business recovers with volumes surpassing pre-pandemic levels, says company.

CLOSING BELL: Sectorally, the Nifty Realty and PSU Bank indices were the worst hit as they slipped 1.75 per cent and 1.6 per cent on the NSE

ITC is better-placed than peers with improving cigarette performance and strong earnings visibility, analysts.

In some small companies and mid-cap IT services, 20-30 per cent of people are already back in office, especially in areas where heavy engineering and design concepts are required

ITC will announce its Q4 results and declare final dividend on May 18, 2022.

There has been a brisk rally in these stocks, despite a weakness in the broader market

Addressing the valedictory session of the Bengal Global Business Summit, Banerjee said 137 Memoranda of Understanding (MoUs) and letters of intent (LoI) were signed for the investments

Diversified entity ITC on Thursday said it will acquire 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer(D2C) brand, Mylo for up to Rs 39.34 crore.

"Every category has had inflationary headwinds," said Sanjay Singal, chief operating officer for ITC's diary and beverage segments

Analysts expect ITC to report a relatively stronger quarter, with the improvement in cigarettes and other divisions and lesser margin pressure compared to FMCG peers.

For Q4FY22, Motilal Oswal Financial Services expects ITC to post a 4 per cent growth in Cigarette business volumes with a 4.1 per cent/12.4 per cent YoY increase in sales/EBITDA

Diversified entity, ITC Ltd on Wednesday said it is accelerating its move to go beyond plastic neutrality, having sustainably managed more than 54,000 tonnes of plastic waste across India in 2021-22.

Steady cigarettes demand, rising agri exports, better prospects of hotels and paper businesses, low valuation and reasonable dividend yield key triggers

Instead of a recovery in gross margins in fiscal 2022-23 (FY23), Jefferies now builds-in 50-200 basis point (bps) YoY decline, assuming crude stays closer to $100 a barrel and palm oil at $1,500/MT

The stock was up 2% at Rs 242 on the BSE in intra-day deal, its highest level since November 18, 2021

In the past six months, the market price of ITC has gained 5.5 per cent, as compared to a 7 per cent decline in the Sensex.