ITC’s Hotels sector, now demerged into ITC Hotels Ltd (effective January 1, 2025, though ITC still holds a 40% stake), comprises a chain of luxury hotels and resorts across India operating under brands like ITC Hotels and Welcomhotel, emphasizing “Responsible Luxury.” Their Agri Business is one of India’s largest integrated agri-businesses, involved in sourcing agri-commodities through initiatives like e-Choupal, supplying feed ingredients and marine products, and focusing on value-added segments like processed fruits. This also includes their Indian Leaf Tobacco Development (ILTD) business.
The Paperboards and Packaging division is India’s largest, producing paperboards, specialty papers, and sustainable packaging solutions for various industries. Finally, Information Technology (ITC Infotech), a wholly-owned subsidiary, provides global IT services, further diversifying ITC’s business interests. In essence, ITC has strategically diversified its business portfolio, establishing strongholds in the FMCG and other sectors while maintaining a significant presence across the Indian economy. The recent demerger of the hotel business aims to enhance focus and create value for each segment.
Latest News on ITC Limited
ITC places its bets on acquisitions to expand food operations
ITC Foods, a leading player in the Indian food industry, is shifting its focus towards strategic acquisitions to drive growth and expansion. The company’s recent acquisitions of Yoga Bar and 24 Mantra Organic are part of its “ITC Next” strategy, which prioritizes value-accretive acquisitions as a key driver of growth. According to Hemant Malik, Executive Director of ITC, the company plans to drive growth through a combination of brownfield and greenfield investments, despite challenges such as subdued urban consumption and high inflation.
The company is navigating these challenges through cost management initiatives, pricing actions, and a strategic push towards premiumization. Malik expects the premium category to grow at least twice the pace of the overall FMCG business, driven by consumer demand for health, indulgence, convenience, and premium offerings. Currently, around 30% of ITC’s portfolio consists of premium products, and the company is creating new offerings to cater to the evolving needs of consumers, including health-seeking and Gen Z consumers.
The strategy appears to be paying off, with ITC’s revenue from packaged foods increasing by 28% to Rs 21,982 crore in FY24-25. The health segment is the fastest-growing segment for the company, growing at 40 times the rate of the remaining foods business. Malik noted that the food category still has significant headroom for growth, particularly since a large part of it remains unbranded. The company is keeping a close watch on emerging consumer needs and is creating new products to cater to these trends.
ITC’s focus on premiumization and strategic acquisitions is expected to drive growth and expansion in the Indian food industry. With a strong portfolio of brands and a deep understanding of consumer needs, the company is well-positioned to capitalize on the growing demand for health, convenience, and premium offerings. As the Indian food industry continues to evolve, ITC’s strategic approach is likely to pay off, driving growth and expansion for the company in the years to come. The company’s ability to navigate challenges and adapt to changing consumer needs will be key to its success in the Indian market.
ITC Pledges to Combat Environmental Degradation on World Environment Day with a Multifaceted Approach: Reducing, Replacing, and Restricting Plastic Use.
On World Environment Day, ITC, a leading Indian conglomerate, reaffirmed its commitment to a greener earth by adopting a comprehensive strategy to reduce plastic waste. The company’s approach is centered around the principles of “No Plastic, Better Plastic, and Less Plastic”. This initiative aims to minimize the environmental impact of plastic usage and promote sustainable practices throughout its operations.
ITC’s “No Plastic” strategy involves eliminating plastic usage wherever possible. The company has already stopped using single-use plastics in its offices, hotels, and other establishments. Instead, it has opted for eco-friendly alternatives such as paper, cloth, and biodegradable materials. This move is expected to significantly reduce the amount of plastic waste generated by the company.
The “Better Plastic” approach focuses on using more sustainable and environmentally friendly plastic materials. ITC is exploring the use of biodegradable plastics, recycled plastics, and other innovative materials that can reduce the environmental footprint of its packaging. The company is also working with its suppliers to promote the use of sustainable materials and reduce plastic waste throughout its supply chain.
The “Less Plastic” strategy involves reducing the overall amount of plastic used in ITC’s operations. The company is implementing various measures such as reducing packaging sizes, using refillable containers, and encouraging customers to reuse bags and containers. ITC is also promoting the use of digital documents and online transactions to minimize paper waste.
ITC’s commitment to reducing plastic waste is part of its broader sustainability strategy, which includes initiatives to promote renewable energy, conserve water, and reduce greenhouse gas emissions. The company has set ambitious targets to become carbon neutral and water positive by 2040. ITC’s sustainability efforts have been recognized globally, and the company has been ranked among the top 10 companies in the world for its sustainability performance.
On World Environment Day, ITC’s Chairman and Managing Director, Sanjiv Puri, emphasized the need for collective action to protect the environment. He stated that ITC is committed to doing its part to reduce plastic waste and promote sustainable practices. The company’s “No Plastic, Better Plastic, and Less Plastic” strategy is a significant step towards achieving this goal and contributing to a greener and more sustainable future.
ITC Reinforces Eco-Friendly Pledge with a ‘No Plastic, Better Plastic, and Less Plastic’ Approach on World Environment Day
On World Environment Day, ITC reaffirmed its commitment to fighting plastic pollution through a comprehensive approach focused on recycling, managing, and replacing plastic packaging waste. The company introduced a strategic framework centered on three pillars: No Plastic, Better Plastic, and Less Plastic. This strategy aims to drive community-based waste management programs and invest in sustainable packaging innovations that replace plastic with biodegradable and recyclable alternatives.
ITC has achieved four consecutive years of plastic neutrality, collecting and managing 76,000 tons of plastic waste in FY 2024-25. The company has also been recognized as a solid waste recycling positive enterprise for 18 years, cementing its position as a global leader in sustainability. ITC has set an ambitious target to make all its packaging recyclable, reusable, compostable, or biodegradable by 2028, as part of its Sustainability 2.0 Vision.
The company’s efforts align with India’s broader environmental goals, including the government’s “One Nation, One Mission: End Plastic Pollution” campaign. ITC’s approach to plastic sustainability is built on its three strategic pillars. The No Plastic pillar focuses on eliminating plastic altogether by adopting sustainable alternatives, such as biodegradable and plant-based materials. The Better Plastic pillar improves the recyclability and circularity of plastics, while the Less Plastic pillar aims to reduce overall plastic usage through smarter design and material optimization.
ITC has introduced a range of sustainable packaging products, including eco-friendly packaging for Aashirvaad Khapli Atta and Sunfeast Farmlite Core Digestive. The company’s flagship waste management program, Well-being Out of Waste (WOW), has successfully impacted over 29 million people, promoting waste segregation and sustainable practices. ITC’s Mission Sunhera Kal program supports decentralized waste management, benefiting over 75 lakh households.
In addition to these initiatives, ITC’s Foods brand YiPPee! has launched the Yippee! Better World program, raising awareness about plastic waste management among 14 lakh students in 4,175 schools. ITC Hotels has eliminated single-use plastic from 150 touchpoints, saving nearly 2.5 lakh kg of plastic waste annually. Through these multifaceted initiatives, ITC continues to take significant steps toward reducing plastic waste, fostering a circular economy, and making a positive impact on both the environment and communities across India.
ITC Aashirvaad introduces ‘Quality Certificate’ initiative in South Indian market
ITC Aashirvaad has launched a “Quality Certificate” across South India, covering Tamil Nadu, Karnataka, Kerala, and Andhra Pradesh. The certificate guarantees the quality of their Superior MP Atta, a staple ingredient in many households. Aashirvaad has re-appointed renowned actress Sneha as their brand ambassador to promote this initiative. The company aims to address the consumer’s need for transparency and trust in the atta category by providing a written assurance of quality credentials.
The Quality Certificate covers multiple aspects of the atta, including purity, nutritional values, water absorption, and 40+ quality control tests conducted on each batch. This emphasis on transparency and trust is a testament to Aashirvaad’s commitment to delivering high-quality products to consumers. According to Anuj Kumar Rustagi, COO of ITC Foods, the Quality Certificate is a way to empower consumers with information to make informed decisions about the products they choose for their families.
Sneha, the brand ambassador, has expressed her trust in Aashirvaad’s products and commended the company’s dedication to maintaining world-class standards. The brand has also launched a “Quality Assurance TVC” campaign to convey the message to consumers effectively. The TVC features a family searching for evidence of quality, leading to the revelation of Aashirvaad’s 40+ checks for quality and 100% atta 0% Maida assurance.
The campaign includes a participatory pack scan, allowing consumers to check certifications in person and asserting Aashirvaad’s heritage of trust and better softness in each chapati. With this initiative, Aashirvaad is challenging the status quo in the atta category by asking consumers if their current atta product comes with necessary quality credentials. The company is committed to providing excellence and guaranteeing it, not just assuring it. Overall, Aashirvaad’s Quality Certificate is a significant step towards building trust and transparency with consumers in the atta category.
Sanjiv Puri announces ITC Limited’s upcoming investment in Andhra Pradesh.
ITC Limited, a diversified Indian conglomerate, is set to make its next significant investment in the state of Andhra Pradesh. This announcement was made by Sanjiv Puri, the Chairman and Managing Director of ITC Limited. The company has been actively exploring opportunities to expand its presence in the state, and this new investment is expected to further strengthen its footprint in Andhra Pradesh.
Andhra Pradesh has been a key focus area for ITC Limited, with the company already having a significant presence in the state through its various businesses. ITC has been operating in the state for several decades and has made substantial investments in various sectors, including tobacco, fast-moving consumer goods (FMCG), paperboards, and hospitality.
According to Sanjiv Puri, ITC Limited is committed to partnering with the government of Andhra Pradesh to drive economic growth and development in the state. The company has been impressed by the state’s proactive and investor-friendly policies, which have created a favorable business environment. ITC believes that Andhra Pradesh has immense potential for growth and is an ideal location for its next investment.
The details of the new investment, including the amount and the specific sectors or projects involved, have not been disclosed yet. However, it is expected that the investment will be substantial and will create new job opportunities and stimulate economic growth in the state. ITC Limited has a strong track record of creating sustainable and socially responsible businesses, and its new investment in Andhra Pradesh is expected to be in line with this philosophy.
The announcement of ITC’s new investment in Andhra Pradesh has been welcomed by the state government, which sees it as a major boost to its efforts to attract new investments and drive economic growth. The state government has been actively promoting Andhra Pradesh as an investment destination, highlighting its strategic location, skilled workforce, and favorable business environment.
Overall, ITC Limited’s decision to make its next significant investment in Andhra Pradesh is a significant development for the state and is expected to have a positive impact on its economy. The investment is a testament to the state’s growing reputation as a preferred destination for businesses and is expected to attract more investments in the future. With its strong presence and commitment to sustainable and socially responsible businesses, ITC Limited is well-positioned to play a major role in driving economic growth and development in Andhra Pradesh.
Stock Market Updates for ITC Limited
Recent Updates
India’s ITC sees quarterly profit surge, driven by robust demand from rural areas.
ITC Limited, a leading Indian conglomerate, has reported a rise in quarterly profit, driven by resilient demand in rural areas. The company’s net profit for the quarter ended December 2022 increased by 23% to ₹5,231 crores ($663 million), exceeding analyst estimates. The growth was fueled by a strong performance in its fast-moving consumer goods (FMCG) segment, which includes brands such as Aashirvaad, Bingo, and Sunfeast.
The FMCG segment, which accounts for over 50% of ITC’s revenue, saw a 17% increase in revenue to ₹13,241 crores ($1.68 billion). The company’s cigarette business, which is the largest contributor to its revenue, reported a 10% increase in revenue to ₹7,513 crores ($953 million). ITC’s hotel business also saw a significant recovery, with revenue increasing by 45% to ₹647 crores ($82 million), driven by a surge in domestic tourism.
The company’s agribusiness, which includes commodities such as soya, wheat, and rice, reported a 13% increase in revenue to ₹6,311 crores ($802 million). ITC’s paperboards and packaging business also saw a 14% increase in revenue to ₹1,924 crores ($244 million).
The strong performance was driven by the company’s focus on rural markets, where demand has remained resilient despite the COVID-19 pandemic. ITC has been investing heavily in rural marketing and distribution, which has helped the company to increase its penetration in these areas. The company’s e-commerce platform, ITC e-Store, has also seen significant growth, with sales increasing by 50% during the quarter.
ITC’s management has expressed optimism about the company’s future growth prospects, driven by the increasing demand for its products in rural areas. The company is also focusing on innovation and digital transformation, with plans to launch new products and invest in emerging technologies such as artificial intelligence and blockchain.
Overall, ITC’s quarterly performance is a testament to the company’s diversified business model and its ability to adapt to changing market conditions. The company’s focus on rural markets and digital transformation is expected to drive growth in the coming quarters, making it a promising investment opportunity for investors. With a strong brand portfolio and a wide distribution network, ITC is well-positioned to capitalize on the growing demand for consumer goods in India.
Madras High Court rules that no hearing is required after issuing a second corrigendum to a GST show cause notice that increases input tax credit and demand order.
The Madras High Court has ruled that the issuance of a second corrigendum to a Goods and Services Tax (GST) show cause notice (SCN) enhancing the input tax credit (ITC) and demand order, without providing an opportunity for hearing, is not in accordance with the principles of natural justice.
In this case, the petitioner received a GST SCN proposing to reject the ITC claimed by them and also proposing a demand of tax, interest, and penalty. The petitioner replied to the SCN, and subsequently, a personal hearing was granted. After the hearing, an order was passed rejecting the ITC and confirming the demand. However, a corrigendum was issued enhancing the demand, which was followed by a second corrigendum further enhancing the demand and ITC.
The petitioner challenged the second corrigendum before the High Court, contending that it was issued without providing an opportunity for hearing. The Court held that the issuance of the second corrigendum without providing an opportunity for hearing was in violation of the principles of natural justice. The Court relied on the decision of the Supreme Court in the case of Gkn Driveshafts (India) Ltd. vs. Income Tax Officer, which held that a corrigendum which substantially alters the basis of the assessment, cannot be issued without providing an opportunity for hearing to the assessee.
The Court observed that the second corrigendum had enhanced the demand and ITC, which was a substantial alteration of the basis of the assessment. The Court also noted that the petitioner had not been provided an opportunity to respond to the enhanced demand and ITC. The Court, therefore, quashed the second corrigendum and remanded the matter back to the authority to provide an opportunity for hearing to the petitioner.
The judgment highlights the importance of providing an opportunity for hearing to taxpayers before passing any order that affects their rights. It also emphasizes that the issuance of a corrigendum which substantially alters the basis of the assessment cannot be done without providing an opportunity for hearing. The judgment will have implications for GST authorities and taxpayers, as it emphasizes the need for transparency and fairness in the assessment process.
In conclusion, the Madras High Court’s ruling emphasizes the importance of principles of natural justice in taxation, particularly in cases where a corrigendum is issued enhancing the demand and ITC. It is essential for tax authorities to provide an opportunity for hearing to taxpayers before passing any order that affects their rights. The judgment will have significant implications for GST authorities and taxpayers, and will ensure that the assessment process is fair and transparent.
Parle Products aims to make the name ‘Parle Marie’ a household phrase that effortlessly rolls off everyone’s tongue
Parle Products, the manufacturer of popular brands such as Parle-G, Hide & Seek, and Monaco, is launching a high-frequency advertising campaign to change a decades-old consumer habit in India. The company wants consumers to ask for “Parle Marie” instead of just “Marie” when purchasing a Marie biscuit. The biscuit category is highly competitive, with several national and regional brands available in the market, including Britannia, ITC, and McVitie’s. Parle began producing its version of the Marie biscuit in the 1940s.
The campaign, created by advertising agency Thought Blurb Communications, features 25-second commercials that show protagonists getting into chaotic situations when they ask for just “Marie” and then finding calm when they ask for “Parle Marie”. The ads are being aired on Star Sports HD and SD during the Indian Premier League, as well as online. However, the high frequency of the ads has led to some viewers complaining about the repetition on social media.
Parle Products’ vice-president, Mayank Shah, admits that the frequency is high but claims that it is necessary to change the consumer habit. He says that the company has since broadened its targeting parameters to reduce the number of times the ad airs on television. The campaign is part of the company’s strategy to reaffirm its “branded-house” positioning, which was first introduced with the “Naam Toh Suna Hoga” campaign last year.
The company has allocated a significant portion of its annual marketing budget to the campaign and will assess its effectiveness through brand tracking and sales data. Two-thirds of Parle Marie’s sales come from four key markets: Maharashtra, Karnataka, Odisha, West Bengal, and Tamil Nadu. Shah believes that changing the consumer habit will be a slow-burning process, but it is essential to associate the brand name with the category.
The move is significant, as Parle Products is already a leading player in the biscuit market with its Parle-G glucose biscuit being a popular companion to tea. By targeting the Marie biscuit category, the company seems intent on monopolizing not just the biscuit tin but also tea time itself. With this campaign, Parle Products aims to establish itself as a dominant player in the biscuit market and increase its brand awareness and sales.
Farmers gain a smart companion – Economic Updates
A significant transformation is underway in India’s agricultural sector, driven by artificial intelligence (AI) and machine learning. At the forefront of this change is Krishi Mitra, a GenAI-powered voice assistant developed by ITCMAARS (Metamarket for Advanced Agriculture and Rural Services). This innovative tool provides personalized agricultural advice and information to farmers, understanding and responding to their queries in local languages using Microsoft’s voice-to-text technology.
Krishi Mitra is built on a large language model foundation, functioning as a GenAI copilot that delivers context-aware responses to enhance decision-making and boost productivity. Farmers can ask questions, and the chatbot responds with clear, actionable insights tailored to their location and crop type. For more detailed conversations and technical advisory, farmers are directed to an ITCMAARS agri expert.
ITCMAARS is a “phygital” ecosystem that empowers farmers with a range of services, including crop advisory, market access, financial services, and climate change guidance. The platform has been introduced in 11 states, covering over 20 lakh farmers through more than 2,000 farmer producer organizations (FPOs). The goal is to cover 10 million farmers and support 4,000 FPOs by 2030.
The platform offers a range of digital tools, including a crop calendar, crop doctor, and soil testing services, which have resulted in a 10-15% reduction in fertilizer usage and a 15-20% improvement in crop yields. ITCMAARS also provides digital access to formal agri-credit, an e-marketplace for selling farm outputs, and an e-platform for agri inputs.
The initiative supports rural agri-entrepreneurship through ground-level engagement with FPOs, providing physical staging points for inputs and outputs supply chains in villages. The model has provided farmers with access to global markets, connecting them to ITC’s 2000+ strong global customer base, resulting in a 30-40% increase in net returns on farm income.
Overall, Krishi Mitra and ITCMAARS are revolutionizing the agricultural sector in India, providing farmers with personalized advice, digital tools, and market access, resulting in improved productivity, income, and competitiveness. The initiative has the potential to transform the lives of millions of farmers, making a significant impact on the country’s agricultural sector.
Parle aims to emulate Amul’s success with Marie biscuits, but its advertisements fall short on clever wordplay.
Parle, a well-known Indian biscuit brand, has launched a new advertising campaign to strengthen its position in the Marie biscuit market. The campaign aims to reinforce the idea that when it comes to Marie biscuits, it has to be Parle Marie. The TV commercials show people getting confused when asked for Marie biscuits, highlighting the need to specify “Parle Marie” to avoid any misunderstandings. The campaign’s goal is to boost brand recall, differentiate Parle Marie from generic Marie options, and establish its presence in a crowded market.
The Marie biscuit category has become increasingly competitive, with several brands offering their own versions, including Britannia’s Marie Gold, ITC’s Marie Light, and DK Bakings’ Nutribake Morning Marie. Britannia’s Marie Gold, in particular, has extensive consumer awareness due to its early entry into the Indian market and aggressive advertising campaigns. Parle, however, is attempting to reclaim its position as the leading Marie biscuit brand through its new campaign.
The campaign’s strategy is to create a universal consumer insight in an engaging and humorous way, while clearly reinforcing the idea that Parle Marie is the only authentic Marie biscuit. According to Mayank Shah, Vice President of Parle Products, the campaign is a confident step forward to strengthen top-of-mind recall. The idea is to make Parle Marie synonymous with the Marie biscuit category, much like Colgate is with toothpaste and Amul is with dairy products.
Colgate and Amul are examples of brands that have become larger than their respective categories through consistent branding and clever advertising. Colgate has dominated the oral care market in India through educational advertising campaigns, while Amul has carved its identity through relatability and wit. Both brands have invested heavily in creating awareness and building trust with their consumers, ultimately becoming symbols of their respective categories. Parle hopes to achieve similar success with its new campaign, establishing Parle Marie as the go-to Marie biscuit brand in India.
From Pahalgam to Bhaktapur, the expansion saga of ITC Hotels unfolds – Hotelier India
ITC Hotels, a leading hospitality chain, has been aggressively expanding its presence in the Indian market. The company has announced the addition of seven new hotels to its Fortune brand, taking the total count to 78 properties. This expansion marks a significant milestone in the company’s growth strategy, with a focus on Tier 2 and Tier 3 cities.
The new properties are located in Pahalgam, Bhaktapur, and other smaller towns, indicating the company’s confidence in the growth potential of these markets. ITC Hotels’ decision to expand into these areas is driven by the increasing demand for quality hospitality services in smaller cities. The company aims to capitalize on the growing business and leisure travel demand in these regions.
The Fortune brand, which is ITC Hotels’ mid-market segment, has been at the forefront of this expansion. The brand has signed 14 new hotels, with seven already operational. The new properties offer a range of amenities and services, including restaurants, bars, and meeting facilities, catering to the needs of business and leisure travelers.
The expansion of ITC Hotels into Tier 2 and Tier 3 cities is a strategic move, as these markets offer immense growth potential. The company is betting on the increasing disposable income and aspirations of the middle class in these regions, which are driving demand for quality hospitality services. By establishing a strong presence in these markets, ITC Hotels aims to become a leading player in the Indian hospitality industry.
The addition of new properties is expected to generate significant employment opportunities and stimulate local economies. ITC Hotels’ expansion plans are also aligned with the government’s initiatives to promote tourism and hospitality in smaller cities. The company’s commitment to sustainable and responsible tourism practices is also evident in its expansion strategy, with a focus on environmentally friendly and socially responsible operations.
Overall, ITC Hotels’ expansion story is a testament to the company’s confidence in the Indian hospitality market. With a strong focus on Tier 2 and Tier 3 cities, the company is well-positioned to capitalize on the growing demand for quality hospitality services in these regions. As the Indian economy continues to grow, ITC Hotels is poised to become a leading player in the hospitality industry, with a strong presence across the country.
Italy’s Sanjiv Puri, ITC CEO, believes India is uniquely positioned to mitigate the impact of Trump’s tariffs.
India will navigate US tariffs imposed by President Donald Trump better than others, said Sanjiv Puri, Chairman of ITC. India is hopeful of signing a free trade agreement (FTA) with the US, which is expected to materialize soon. The US had imposed tariffs on various countries, including India, but has since relaxed them for some countries, with the exception of China.
Despite the potential impact of tariffs, Puri is optimistic about India’s prospects, citing the country’s long-term competitiveness and diversification. He mentioned that India’s economy is consumption-driven, but its levers of competitiveness, digitization, and future-readiness have positioned the country well to deal with disruptions.
Puri noted that while the short-term impact of global uncertainties may affect India to some extent, its prospects in the long run are brighter. ITC, the company he chairs, is also working on diversifying its portfolio, leveraging digitalization and innovation to remain competitive. The company is focusing on supply-side resilience, climate-proof infrastructure, and agile teams to navigate the changing tariff landscape.
The company’s human capital development strategy includes vocational training and integrated rural development, with sustainability integrated into its corporate strategy. ITC aims to balance economic, social, and environmental goals and is exploring new skills and modes of operation in the face of the quick commerce revolution in the FMCG industry. The US tariffs are expected to remain in place until July 9.
A ₹3,498 crore windfall for ABREL and a growth opportunity for ITC
The article reports on the strategic acquisition of JK Paper Ltd by Aditya Birla Group’s (ABREL) subsidiary, Grasim Industries, in a deal worth ₹3,498 crore. This acquisition is seen as a significant move for ABREL, marking its entry into the paper industry in India. ABREL is part of the Aditya Birla conglomerate, one of India’s largest business groups.
JK Paper Ltd, with a market value of approximately ₹1,875 crore, is a leading paper manufacturer in India. The acquisition is considered a strategic bet by ABREL, expanding its presence in the Indian market and providing a platform for growth. ABREL’s vision is to capitalize on India’s growing real estate sector, with a focus on building materials and paper products.
ITC Limited, one of the largest diversified conglomerates in India, is seen as a potential competitor in the paper industry. ITC is valued at around ₹4.5 lakh crore and has a significant presence in the paper segment. The acquisition of JK Paper is seen as a strategic move by ABREL to counter ITC’s dominance in the industry.
The acquisition is also a bet on India’s real estate growth story, where paper is a key component in construction and housing. ABREL plans to leverage its expertise in cement and building materials to drive growth in the paper segment through JK Paper.
ABREL has adopted a debt-free acquisition strategy, which is seen as a positive for investors. The company is expected to fund the acquisition through a combination of internal resources and potential debt financing. The deal is expected to be completed by the end of the year.
In summary, the ₹3,498 crore acquisition of JK Paper Ltd by ABREL’s Grasim Industries marks a strategic expansion into the Indian paper industry. The move is expected to provide a platform for growth, leveraging the growing real estate sector and existing expertise in building materials. The competition with ITC in the paper industry is expected to intensify, making this acquisition a significant development in the market.
Max Estates receives GST notice for ITC refund invitation.
Max Estates Ltd, a leading real estate company in the Delhi-NCR market, has received a show-cause notice from the Goods and Services Tax (GST) department for recovering Rs 2.25 crore. The notice pertains to the company’s claim of inadmissible input tax credit (ITC) for legal expenses incurred between 2018-19 and 2022-23. The GST department has raised objections to the ITC availed by the company, amounting to Rs 2.25 crore, and has proposed to recover the amount along with interest and penalty. The notice was received by the Office of the Principal Commissioner, Central Goods and Services Tax, Audit Commissionerate, Noida.
The company has stated that the notice has no material impact on its financial, operational, or other activities. Max Estates believes that it has strong legal and factual grounds and is prepared to contest the show-cause notice in case of any future proceedings. Max Estates is a prominent developer in the Delhi-NCR market, engaged in the development of several housing and commercial projects.
The show-cause notice is related to the acquisition of businesses and investments in companies under the National Company Law Tribunal (NCLT) dispute, and the GST department has proposed to recover the amount as follows: Rs 1.07 crore (IGST), Rs 58.9 crore (CGST), and Rs 58.9 crore (SGST). Max Estates will likely contest the notice and defend its claim for input tax credit. The company’s position is strengthened by its confidence in its legal and factual grounds, suggesting that it is well equipped to handle any forthcoming proceedings.
Incorporate Hindustan Unilever, TCS, and two other undervalued stocks with a PE ratio below the industry average on your watchlist – Trade Brains
The article by Trade Brains suggests that three Indian stocks with a P/E (price-to-earnings) ratio lower than their respective industries could be worth monitoring. The stocks are:
1. Hindustan Unilever (HUL) – A fast-moving consumer goods company with a P/E ratio of 25.59, lower than the industry average of 37.13.
2. TCS (Tata Consultancy Services) – A leading IT services company with a P/E ratio of 23.63, lower than the industry average of 26.15.
3. Bajaj Finserv – A non-banking finance company with a P/E ratio of 15.24, lower than the industry average of 21.43.
4. ITC (Industries Trading Corporation) – A tobacco and hotel company with a P/E ratio of 20.91, lower than the industry average of 25.69.
These companies are considered undervalued by the market, and the low P/E ratio may indicate a potential buying opportunity. A low P/E ratio can be a result of various factors, including uncertainty in the company’s growth prospects, high debt levels, or perceived risks in the industry.
On the other hand, stocks with high P/E ratios are considered overvalued, and the ratio may indicate that the market is pricing in high growth expectations. For instance, a high-growth start-up might have a much higher P/E ratio than its more established peers in the same industry.
It is essential to conduct a thorough analysis of each company, including its financial performance, competitive position, and industry trends, before making any investment decisions. A low P/E ratio alone is not a guarantee of long-term success, but it can be an attractive feature for investors seeking undervalued companies with potential for future growth.
At the XLRI Jamshedpur Convocation, ITC Chairman Sanjiv Puri emphasized the importance of self-reliance and innovation in achieving success.
XLRI, a reputed institution, held its 69th annual convocation, celebrating the academic achievements of 595 students. The event was marked by the presence of ITC Limited Chairman and Managing Director Sanjiv Puri as the chief guest and Tata Steel CEO and MD TV Narendran as the special guest. The convocation honored the graduating students, faculty members, and administrative staff with various awards, including the prestigious Sir Jahangir Ghandi Medal for Industrial and Social Peace Award.
Puri, the chief guest, emphasized India’s vast potential for growth and innovation, urging graduating students to follow their passions and contribute meaningfully to society. He highlighted the importance of self-reliance, innovation, and sustainable development in their careers. Puri also shared insights into ITC’s growth strategy, emphasizing the company’s focus on leveraging institutional strengths, digital transformation, and distributed leadership.
Narendran, the special guest, emphasized that leadership is about creating meaningful impact. He congratulated the graduating class, stating that XLRI has prepared them to lead with integrity, embrace innovation, and drive sustainable progress.
The ceremony also recognized three professors and 14 administrative staff members who completed 15 years of dedicated service to the institute. The event was attended by XLRI Director Dr. (Fr.) Sebastian George, S.J., Dean Academics Dr. Sanjay K. Patro, and other faculty members, students, and their proud families.
The graduating students were awarded medals for excellence, and the top-ranking students across disciplines were recognized. XLRI’s commitment to global excellence was evident in its academic partnerships with premier institutions worldwide.
The institution’s notable alumni achievements were also highlighted, including Radhika Tomar’s appointment as HR Director, India & Southeast Asia, Bacardi, and Santosh T K’s recognition in Forbes India’s Top 30 Talent Leaders.
As the graduating students bid farewell to XLRI, they expressed a mix of emotions, ranging from joy to nostalgia. A proud parent, Lavkush Shukla, spoke of seeing his daughter graduate from XLRI as a dream come true.
In a strategic coup, Reliance Retail acquires the Indian rights to a high-profile cricket star’s brand, poised to disrupt the market and challenge established players like Appy Fizz, Rasna, and PepsiCo.
Reliance Consumer Products Ltd (RCPL), led by Mukesh Ambani, has entered the Indian packaged beverage market with the launch of Sun Crush, a premium juice brand from Sri Lanka. The company has acquired the India rights for Sun Crush from Ceylon Beverage International, owned by former Sri Lankan cricketer Muttiah Muralitharan. The brand is positioned as an affordable alternative to established brands like Dabur’s Real, PepsiCo’s Tropicana, ITC’s B Natural, Amul Tru, and Paperboat, with a price tag of Rs 20 for a 200 ml bottle.
With Sun Crush, Reliance aims to secure a strong foothold in the rapidly expanding Indian beverage sector, which is expected to grow to Rs 1.47 trillion by 2030. The brand will be manufactured locally and will be available in different flavors to cater to the Indian market. This is Reliance’s second product in the juice segment after its acquisition of RasKik two years ago.
Reliance Industries, India’s most valuable company with a market capitalization of Rs 17.395 trillion as of March 2025, is expanding its presence across diverse industries while delivering innovative and accessible products to Indian consumers. With Sun Crush, Reliance is positioning itself as a serious player in the Indian beverage market, where established brands like Appy Fizz, PepsiCO, ThumpsUp, and Coca Cola dominate the market.
The entry of Sun Crush is a significant development in the Indian beverage industry, which is expected to create a new wave of competition among existing players. As Reliance continues to expand its presence in various sectors, including e-commerce, retail, and now beverages, CEO Mukesh Ambani’s vision of making Reliance a dominant player in multiple industries is becoming a reality.
The Supreme Court declines to interfere with the Delhi High Court’s order in the ITC vs Adyar Gate ‘Dakshin’ trademark case.
The Supreme Court refused to interfere with the Delhi High Court’s order exempting ITC Ltd and ITC Hotels from the pre-institution mediation process in a dispute with Adyar Gate Hotels over the use of the trademark “Dakshin”. The Supreme Court noted that the mediation process can be taken at any stage by the high court while the suit is being heard. Adyar Gate Hotels had argued that the single judge had erred in granting an exemption from the mandatory requirement of Section 12A of the Commercial Courts Act, which requires parties to undergo mediation before filing a suit. ITC, on the other hand, opposed any mediation, claiming that Adyar Gate Hotels had “stolen” its name, business, and goodwill.
The dispute dates back to 2015, when Adyar Gate Hotels began using the “Dakshin” mark without permission. ITC had originally granted Adyar Gate Hotels a limited right to use the mark in 1985, but when the agreement expired in 2015, ITC did not object to the continued use of the mark. However, in 2023, Adyar Gate Hotels opened a standalone restaurant in Chennai using the “Dakshin” mark, which ITC claimed was an infringement of its trademark.
The Delhi High Court had previously issued an interim order restraining Adyar Gate Hotels from using the “Dakshin” mark, but the division bench set aside that order and allowed Adyar Gate Hotels to continue using the mark at its existing restaurant. The case is now being heard by a single judge, who has the discretion to allow or disallow mediation between the parties. The outcome of the case is still pending.
Mukesh Ambani, a visionary entrepreneur, is poised to shake up the Indian market as he partners with spin legend Muttiah Muralitharan to launch a new, game-changing beverage, ‘Tutur’s Thirst Quencher’.
Mukesh Ambani, Asia’s richest businessman, has partnered with legendary Sri Lankan cricketer Muttiah Muralitharan to shake up the Indian and global beverage markets. The partnership between Reliance Consumer Products (RCPL) and Muralitharan’s Ceylon Beverage International has granted RCPL the Indian rights to the premium juice brand Sun Crush. With this deal, RCPL will be manufacturing Sun Crush locally in India, making it a major player in the packaged beverage market.
Reliance has adopted an aggressive pricing strategy, with a 200ml bottle of Sun Crush available at a competitive price of Rs 20. This pricing strategy is likely to pose a challenge to other major players in the market, including Dabur’s Real, ITC’s B Natural, Amul Tru, and PepsiCo’s Tropicana. The market is already witnessing tough competition, with variants from Real and Tropicana already available at similar price points.
Reliance’s focus on building its beverage portfolio is evident through its past acquisitions, including the acquisition of Raskik, a local juice manufacturer, two years ago. The company has also secured distribution rights for energy drinks and juices in India, as well as contract packaging for Campa Cola and co-creating an energy drink with Ceylon Beverages.
The Indian beverage market is expected to grow significantly, with a projected value of Rs 1.47 lakh crore by 2030, driven by categories such as carbonated soft drinks, fruit-based beverages, juices, and water. This growth presents immense opportunities for companies like Reliance to expand their presence in the market. With its strategic partnerships and aggressive pricing strategy, Reliance is set to challenge the dominance of major players like Pepsi, Amul, and Tata, making it a key player in the beverage market.