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.
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ITC Hotels Limited Makes Strategic Moves into Andhra Pradesh and Telangana Markets
ITC Hotels Limited has announced the signing of definitive agreements with DSR Hospitality Services to manage two new hotels in Nellore and Hyderabad under its Welcomhotel by ITC Hotels brand. This expansion will increase ITC Hotels’ presence in Andhra Pradesh and Telangana. The Welcomhotel by ITC Hotels Hyderabad Panjagutta will feature 117 rooms and over 800 square meters of meeting space, while the Welcomhotel by ITC Hotels Nellore will have 127 rooms and over 2600 square meters of meeting space.
Anil Chadha, Managing Director of ITC Hotels Limited, expressed his happiness about the partnership with DSR Hospitality Services, stating that it aligns with their vision of strategic growth into new cities and strengthens their presence across India. D Sudhakar Reddy, Managing Partner of DSR Hospitality Services, also commented on the occasion, saying that they are delighted to announce their alliance with ITC Hotels for the development of their upcoming properties in Hyderabad and Nellore.
The partners of DSR Hospitality Services, D. Prabhakar Reddy and D. Raghurami Reddy, added that these projects are significant for their company, and they look forward to a successful collaboration with ITC Hotels. They believe that ITC Hotels, with its rich legacy and proven expertise, is uniquely positioned to deliver personalized and exceptional service excellence to both destinations. The partnership aims to bring world-class developments to the region, contributing to its growth.
The expansion of Welcomhotel by ITC Hotels is a result of the company’s asset-right strategy, which involves associating with hotel developers for new management opportunities. This strategy has enabled the brand to grow and increase its visibility across India. With these two new additions, ITC Hotels Limited is set to strengthen its presence in Andhra Pradesh and Telangana, offering high-quality hospitality and food and beverage experiences to guests in the region.
Infosys contests $55 million tax refund notice from ITC.
Infosys, a prominent technology company, has taken a significant step by filing a writ petition with the Karnataka High Court. The petition challenges the validity of a show cause notice issued by the Directorate General of GST Intelligence (DGGI) regarding an alleged ineligible input tax credit (ITC) refund of Rs 415 crore.
The issue began in May when the DGGI requested details about Infosys’ GST refund claims. The company responded by providing all the necessary information and engaging in discussions with DGGI officials. However, the situation escalated in July when the DGGI issued a pre-show cause notice. Infosys then requested additional time to submit a detailed response, seeking more information to address the concerns raised.
Despite the request for an extension, the DGGI proceeded to issue a show cause notice on August 12, which amounted to Rs 414.8 crore, excluding interest and penalties. This notice has prompted Infosys to seek legal recourse, questioning the legitimacy of the DGGI’s actions. By filing the writ petition, Infosys aims to challenge the basis of the show cause notice and potentially have it overturned.
The decision to file a writ petition indicates that Infosys is taking a strong stance against the DGGI’s claims. The company’s actions suggest that it believes the show cause notice was issued without proper consideration of the information provided or the additional time requested to respond. The outcome of this legal challenge will be significant, not only for Infosys but also for other companies that may face similar issues with GST refund claims.
The case highlights the complexities and potential disputes that can arise in the context of GST refunds and input tax credits. It underscores the importance of clear communication and due process in the handling of such matters by tax authorities. As the case unfolds, it will be interesting to see how the court interprets the situation and whether the DGGI’s actions are deemed appropriate. The legal battle between Infosys and the DGGI has significant implications for the interpretation of GST laws and the rights of taxpayers in India.
Direct-to-consumer startups in major fast-moving consumer goods sector show promise, yet struggle to achieve significant profits
In recent years, top Indian consumer goods companies such as Hindustan Unilever, ITC, Marico, and Emami have acquired or taken controlling stakes in numerous digital-first brands, also known as direct-to-consumer (D2C) startups. This move was largely driven by the ecommerce boom, which presented an opportunity for these fast-moving consumer goods (FMCG) companies to exploit the growing online market. The partnerships have enabled the D2C brands to scale up their distribution networks across India, leveraging the marketing muscle and extensive reach of the FMCG companies.
As a result, many of these D2C startups have experienced significant sales growth. For instance, Plix’s revenue rose nearly threefold to Rs 418 crore in fiscal 2025, while Oziva’s revenue more than doubled to Rs 257.8 crore. Yogabar also saw a 50% surge in revenue to Rs 197.1 crore post-acquisition. However, despite the increased sales, many of these startups continue to incur losses, with some even widening their losses. Experts attribute this to the high cost of customer acquisition, which is a major contributor to the losses incurred by D2C brands.
The founders of these D2C startups acknowledge that being part of a larger FMCG ecosystem has provided them with access to more resources, including a larger distribution network and marketing muscle. However, they also emphasize that their operations remain independent, and they have been able to leverage the ecosystem without losing control. For example, Puru Gupta, the cofounder of True Elements, stated that Marico did not interfere in how they built their brand, and they were able to make strategic investments that led to slower growth in the short term but eventually resulted in significant growth.
Despite the mixed results, FMCG companies are expected to continue their D2C acquisition spree, driven by pressure from investors and analysts to innovate and compete with nimbler D2C companies. However, experts warn that simply plugging a D2C brand into a legacy FMCG system is not a guarantee of success. The cost of customer acquisition and the focus on efficiency and cost management in established FMCG companies can be challenging for D2C brands to navigate. As Arvind Singhal, MD of The Knowledge Company, noted, “In the next five years, most of these acquisitions will turn out to be completely dead. Many of them are being bought at crazy prices but may not deliver the growth expected.”
Experts Weigh in on GST, ITC Blockage and Its Impact on FMCG Distributors: Rediff Money News
Experts have highlighted that the recent GST circular, despite bringing clarity on trade discounts and credit notes, has shifted compliance obligations and cash-flow pressure onto FMCG distributors. The circular states that financial or commercial credit notes, which are issued without GST, do not require distributors to reverse their input tax credit (ITC). However, this means that distributors will continue to hold excess ITC balances, which often cannot be fully utilized, effectively locking up working capital.
Indirect Tax Expert Vedika Agrawal noted that manufacturers will benefit from the circular as their past tax payments remain untouched. However, distributors will face difficulties in utilizing their excess ITC balances, which may lead to cash-flow pressures. Another taxation expert, Vivek Jalan, pointed out that there is currently no refund mechanism for accumulated ITC, and the industry may push for a new refund mechanism. However, this would be difficult for the government to allow due to the high risk of misuse.
The circular also clarified the treatment of trade discounts, stating that manufacturers who only support dealer pricing will not incur extra GST. However, if they directly promise a lower price to consumers, dealers must add such support to their taxable value and pay GST on the combined amount. The All India Consumer Products Distributors Federation (AICPDF) has written to the Central Board of Indirect Taxes and Customs (CBIC), seeking urgent clarifications on the implementation of the recent GST rate cuts and the treatment of excess ITC that may build up following the rate reductions.
The federation also flagged an anomaly in the detergent segment, where GST on detergent cakes has been cut to 5%, but washing powders remain at 18%. The industry association represents 4.5 lakh distributors and serves over 1.3 crore kirana stores across the country. Experts noted that the dual concerns raised by distributors and tax specialists underline the challenges of implementing GST reforms, where manufacturers gain certainty, but distributors remain exposed to cash-flow pressures until legislative changes and clarifications take full effect.
The proposed amendment to Section 15 of the CGST Act, discussed in the 56th GST Council meeting, may ease the problem of ITC accumulation at the recipient’s end due to financial credit notes by suppliers. However, this amendment is expected to take effect in about a year, and until then, distributors will continue to face cash-flow pressures. The industry is seeking urgent clarifications and reforms to ensure that the benefits of GST reforms flow smoothly to consumers and avoid disruptions in retail trade.
ITC Sunrise Spices launches ‘Sunrise Pujor Satkahon’ festival celebrations throughout West Bengal
Durga Puja is the most significant festival in Bengal, celebrating devotion, togetherness, and creativity. To commemorate this occasion, ITC’s Sunrise Spices has launched the “Sunrise Pujor Satkahon” initiative, partnering with over 1,000 Puja committees across West Bengal. This campaign aims to highlight the diversity, traditions, and emotions that make Durga Puja special, not just in Kolkata but throughout the state.
According to Piyush Mishra, Business Head of Sunrise Spices, “Durga Puja is the soul of Bengal, bringing people together in a spirit of devotion, joy, and creativity.” The initiative seeks to celebrate the unique stories and cultural heritage of every locality, going beyond the grandeur of Kolkata to honor the rich traditions of every community.
To participate, Puja committees are invited to submit a brief write-up on their Puja’s theme, community spirit, and cultural significance. The contest consists of three phases: storytelling entries and community votes, pandal showcase and jury scoring, and on-ground audits. The top 250 entries will be featured in a special Coffee Table Book, preserving their legacy for generations.
The “Sunrise Pujor Satkahon” initiative is more than a contest; it is a movement to honor Bengal’s community spirit, creativity, and devotion. The campaign seeks to showcase the true essence of Durga Puja, highlighting every community, every story, and every heart. By celebrating the diversity and traditions of Durga Puja across West Bengal, Sunrise Spices aims to create a collective archive of the state’s festive heartbeat.
The initiative will culminate in a grand finale on Dashami, with a celebrity-led Sindoor Khela ceremony. The top 5 winners will be announced on Navami, and the Coffee Table Book will be a testament to the rich cultural heritage of Bengal’s Durga Puja celebrations. Overall, “Sunrise Pujor Satkahon” is a unique initiative that seeks to preserve and celebrate the traditions of Durga Puja, promoting unity, pride, and cultural heritage throughout West Bengal.
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Afreximbank and ITC Extend Collaboration to Boost Trade Within Africa
The African Export-Import Bank (Afreximbank) and the International Trade Centre (ITC) have renewed and expanded their memorandum of understanding (MoU) to strengthen intra-African trade, small and medium-sized enterprise (SME) competitiveness, and South-South cooperation. The MoU was signed by Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, and Ms. Pamela Coke-Hamilton, Executive Director of ITC, on the sidelines of the Intra-African Trade Fair 2025 (IATF2025).
Under the renewed MoU, Afreximbank and ITC will promote SME competitiveness, capacity building related to the African Continental Free Trade Area (AfCFTA), and sustainable livelihoods through the creative industries. They will also strengthen Africa’s trade partnerships with the Caribbean and Arab regions and increase access to finance for businesses, including small businesses. The partnership aims to empower SMEs and creative entrepreneurs, foster Africa-Caribbean linkages, and advance AfCFTA implementation.
According to Prof. Oramah, the renewed MoU will help expand Africa’s creative industries, deepen South-South cooperation with the Caribbean, and strengthen AfCFTA’s private sector impact. He emphasized the importance of the IATF as a platform for unlocking the potential of SMEs to drive Africa’s trade-led development. Ms. Coke-Hamilton noted that the partnership will continue to work together to make trade easier, more accessible, and less costly across the continent, for all African businesses, including the smallest and those led by women and youth.
The IATF2025, which took place from September 4 to 10, was a huge success, with over 112,000 visitors from 132 countries and US$48.3 billion in trade and investment deals signed over the seven days of the continental exposition. The event welcomed 2,148 exhibitors and demonstrated the potential of SMEs to drive Africa’s trade-led development. The renewed MoU between Afreximbank and ITC is expected to build on this momentum and further strengthen intra-African trade and SME competitiveness.
The Uncertain Future of Pampore ITC and Jablipora Fruit Mandi
The economic growth of Jammu and Kashmir is being hindered by the delayed execution of key infrastructure projects, resulting in lost opportunities for job creation, revenue generation, and credibility. Two notable examples of this are the International Trade Centre (ITC) at Pampore and the International Terminal Fruit and Vegetable Market at Jablipora, Bijbehara. The ITC, envisioned as a state-of-the-art facility for trade fairs and exporter interface, has been stalled since 2008 due to mismanagement of funds and lack of accountability. The project’s deadline was March 2010, but the funds were retained by SIDCO for nearly two years, and the project remains incomplete to this day.
Similarly, the Jablipora Fruit and Vegetable Terminal Market, conceived in 2011-12, has faced significant delays and allegations of nepotism and corruption. The project, expected to revolutionize Kashmir’s horticultural economy, has not been completed despite its strategic location and planned facilities. The absence of accountability and transparency has undermined the project, with internal roads, drainage, and basic infrastructure remaining incomplete.
The failure of these projects has resulted in lost economic potential for thousands of growers, artisans, and entrepreneurs who could have benefited from world-class trade facilities. The lack of accountability and transparency has led to allegations of corruption and mismanagement, which have further eroded the credibility of the authorities. To move forward, Jammu and Kashmir needs a robust monitoring mechanism to ensure that projects are implemented on schedule and in line with approved plans. Transparency in licensing, allotment of shops, and use of facilities must be made mandatory, with clear criteria and periodic reviews.
The authorities still have a chance to salvage these projects, but decisive action is needed now. The dream of turning Kashmir into a hub of trade and horticultural excellence will remain just that, a dream, if governance continues to falter. The region’s economy, heavily dependent on agriculture and horticulture, cannot afford such missed opportunities. If properly implemented, the Pampore ITC and Jablipora Terminal Market could have transformed the region’s agrarian landscape, empowered small traders, and connected growers directly with national and international buyers. It is essential for the authorities to take corrective measures to restore credibility and ensure that such projects are completed in a timely and transparent manner.
FMCG giants HUL, Marico, and ITC go on a buying binge: What’s behind their D2C shopping spree
Over the past five years, approximately two-thirds of acquisitions made by Fast-Moving Consumer Goods (FMCG) companies have been in the Direct-to-Consumer (D2C) space. This trend is driven by the desire of established players to boost growth, expand into premium segments, and gain access to personalized consumer insights. According to Crisil Ratings, notable acquisitions include Hindustan Unilever’s purchase of Uprising Science Pvt Ltd (Minimalist) for Rs 2,706 crore, Marico’s acquisition of Satiya Nutraceuticals Pvt Ltd (Plix) for Rs 380 crore, and Emami Ltd’s takeover of Helios Lifestyle Ltd (The Man Company) for Rs 272 crore.
These acquisitions provide FMCG companies with access to unique features of digital channels, such as accelerated feedback, rapid innovation cycles, and targeted marketing. The modest size of these acquisitions has not impacted the credit profile of acquirers, with the average consideration for acquisitions being less than 5% of the net worth of the acquirers. Crisil Ratings notes that the acquisitions have strengthened the business profiles of traditional FMCG players by providing entry into niche product categories, aiding diversification and premiumisation of the overall product basket.
The majority of acquisitions (60%) have been in the personal care segment, with the rest in the food and beverage segment. About 85% of the acquisitions were undertaken to enter niche and premium segments, with 35% in the health and wellness segment and 20% in the specialized ingredients segment. The acquisitions have enabled D2C companies to mitigate challenges of scalability and profitability, with less than 15% of D2C companies crossing Rs 250 crore in revenue and only a third reporting operating profits prior to acquisition.
While the acquisitions have not dented the financial profiles of acquirers, Crisil Ratings notes that the ramp-up of the acquired D2C brands post-acquisition to a much larger scale will bear watching. The ability of FMCG companies to improve profitability over the medium term will be crucial in determining the success of these acquisitions. Overall, the trend of FMCG companies acquiring D2C startups is expected to continue, driven by the desire for growth, premiumisation, and access to personalized consumer insights.
FMCG giants like Amul and ITC cut prices significantly with new GST rates in effect.
The Indian government’s implementation of the Goods and Services Tax (GST) 2.0 has led to a reduction in prices of daily essentials and food items. As a result, several Fast-Moving Consumer Goods (FMCG) companies have announced price cuts, passing on the benefits to consumers. This move is expected to boost demand and sales, especially with the festive season of Navratri and Diwali approaching.
Some of the major FMCG companies that have announced price cuts include ITC, Amul, Nestlé India, Dabur, PepsiCo, Ferrero, Procter & Gamble (P&G), Emami, Hindustan Unilever (HUL), and Patanjali. The price reductions range from 2-15% across various product categories, including packaged foods, personal care products, dairy products, and beverages.
ITC has reduced prices of its ghee by Rs 70, making it one of the steepest reductions in the FMCG sector. Amul has also slashed prices of its ghee, butter, paneer, and ice creams. Nestlé India has cut prices of its Maggi noodles and coffee range, while Dabur has reduced prices of its juices, health supplements, and oral care products.
Ferrero has announced the steepest cut in the chocolate segment, with a reduction of Rs 100 on its Ferrero Rocher product. P&G has reduced prices of its Vicks Action 500 Advance and other products, including diapers, shampoos, and razors. Emami and HUL have also rolled out price cuts across their personal care and food products.
Patanjali has announced steep cuts across its Nutrela, personal care, and health products, including a reduction of Rs 48 on its ghee. Varun Beverages, the distributor of PepsiCo, has reduced prices of its juice and packaged water portfolio. Overall, the price cuts are expected to benefit consumers and boost sales for the FMCG companies during the festive season.
The price reductions will be effective starting September 22, and consumers can expect to see lower prices on a range of products, including food items, personal care products, and beverages. The move is seen as a positive development for consumers, who will benefit from the reduced prices, and for the FMCG companies, which are expected to see an increase in sales and demand.
Fortune Airport Road Kochi is now open under the management of ITC Hotels
ITC Hotels Limited has announced the opening of its newest property, Fortune Airport Road Kochi, a contemporary upscale hotel located near the Cochin International Airport. This addition brings the total number of operating Fortune hotels in South India to 15. The hotel features 72 well-appointed rooms and suites with spacious interiors, catering to the needs of modern travelers.
According to Anil Chadha, Managing Director of ITC Hotels Limited, the hotel is strategically positioned to meet the growing demand for quality hotels in the city, particularly in the airport corridor. The hotel is equipped to host business meetings, conferences, and intimate gatherings, making it an ideal choice for corporate travelers.
In addition to its business facilities, Fortune Airport Road Kochi also caters to wellness seekers. The hotel boasts a rooftop swimming pool and a fitness center, with a restful spa slated to open soon. This will provide guests with a tranquil and relaxing experience, allowing them to unwind and rejuvenate during their stay.
The opening of Fortune Airport Road Kochi is a significant addition to ITC Hotels Limited’s growing footprint in the Southern region. The hotel’s proximity to the airport makes it an attractive option for travelers looking for convenient and comfortable accommodations. With its contemporary design, spacious rooms, and modern amenities, Fortune Airport Road Kochi is poised to become a popular choice among travelers visiting Kochi.
ITC Hotels Limited has existing alliances in Kerala, including Fortune Kakkanad and Storii Wayanad. The company’s expansion in the region underscores its commitment to providing high-quality hospitality services to travelers. The opening of Fortune Airport Road Kochi is a testament to the company’s efforts to meet the growing demand for luxury hotels in the city. As of September 22, 2025, the hotel is now open and ready to welcome guests, offering a unique blend of comfort, convenience, and luxury.
Rooms with a tariff of up to ₹7,500 will see a price drop of up to ₹525 starting Monday.
Starting from September 22, 2025, hotel rooms in India with tariffs of ₹7,500 or less will experience a price reduction of up to ₹525 per night. This change is a result of the new Goods and Services Tax (GST) rates, which have been reduced from 12% to 5% without input tax credit (ITC). The Hotel Association of India estimates that this reduction will provide relief to travelers to the extent of 7% on the room rate, with a maximum savings of ₹525 per room per night.
The hospitality industry views this reduction as a growth catalyst, expecting it to strengthen revenues, encourage reinvestment, and enable hotels to deliver greater value and innovation for guests. According to Nikhil Sharma, MD & COO of Radisson Hotel Group, the simplified tax structure provides much-needed clarity for hotel operators and travelers, enabling long-term planning and reinforcing confidence in the industry’s growth trajectory.
The GST reform is also expected to have a significant impact on the mid-market space, where India’s expanding middle class is driving demand for high-quality yet affordable stays. Rahool Macarius, Market Managing Director at Wyndham Hotels & Resorts, notes that the revised slabs will improve affordability and unlock tremendous potential in Tier 2 and Tier 3 cities, where value-conscious travelers are increasingly fueling new demand.
The reduction in GST rates is part of a broader overhaul of the indirect tax regime, which aims to limit slabs to 5% and 18% effective from September 22. While the Hotel Association of India welcomes the reduction in tax on hotel accommodation, it argues that GST reforms must take a holistic, business-focused approach that retains ITC.
Overall, the new GST rates are expected to provide relief to travelers and boost the hospitality industry, which is already on a strong growth trajectory. With the simplified tax structure and reduced rates, hotels are expected to deliver greater value and innovation for guests, while also driving growth and investment in the sector.
Finance Minister Sitharaman announces that CBIC will collaborate with insurance companies to develop a transitional framework for Input Tax Credit on exempted policy services.
The Central Board of Indirect Taxes and Customs (CBIC) will engage with the insurance industry to develop a transition mechanism for accumulated input tax credit (ITC) related to policies exempted from tax starting September 22. Finance Minister Nirmala Sitharaman announced this after the GST Council decided to exempt GST on premiums paid for individual life and health insurance policies. Currently, an 18% GST is levied on premium payments for such policies.
The exemption will affect the accumulated ITC of insurance companies, which could impact their finances. To address this, the CBIC will work with stakeholders to establish a transitional arrangement. Sitharaman hopes this arrangement will be in place before September 22, but its implementation will depend on industry engagement with the board.
The GST Council has approved a two-tier GST structure with rates of 5% and 18% for most goods and services, as well as a special rate of 40% for tobacco and ultra-luxury items. The new rates will be effective September 22, except for tobacco products, which will continue to be taxed at 28% plus a compensation cess until December 31.
As part of the GST rationalization, individual life insurance, reinsurance services, and certain other services will be exempt from GST. In the previous fiscal year (FY24), the government collected ₹16,398 crore from GST on healthcare and life insurance, including ₹8,135 crore from life insurance and ₹8,263 crore from health insurance. The government also collected ₹2,045 crore from reinsurance on life and health insurance in FY24.
The exemption of GST on healthcare and life insurance services is expected to have a significant impact on the industry. The government has collected substantial revenues from GST on these services in the past, with ₹16,770 crore collected in FY23, including ₹9,132 crore from life insurance and ₹7,638 crore from healthcare insurance. The transition mechanism being developed by the CBIC will aim to mitigate the impact of the GST exemption on insurance companies and ensure a smooth transition to the new tax regime.
ITC Aashirvaad introduces high-protein Atta, where consuming just three rotis meets approximately 25% of the recommended daily protein intake.
Aashirvaad, India’s leading packaged atta brand, has launched a new product called “Aashirvaad Atta with High Protein”. This innovative offering aims to make it easier for consumers to meet their daily protein requirements. With the growing awareness of the importance of protein for overall health and wellbeing, Indian consumers are seeking affordable and accessible sources of protein. Aashirvaad’s new product is designed to provide a simple solution by adding protein to a staple food in Indian diets – rotis.
The new atta is a blend of wheat, soya, Bengal gram, and oats, which delivers approximately 15g of protein per 100g. This means that just three rotis made from this flour can provide around a quarter of the recommended daily protein requirement. According to Mr. Anuj Rustagi, Chief Operating Officer of ITC Ltd., the awareness about protein consumption is no longer limited to nutrition-conscious individuals, but has become a wider conversation among consumers who want to maintain an active lifestyle.
Aashirvaad Atta with High Protein is expected to be a rich source of protein for Indian families. The product will be available on e-commerce platforms in major cities such as Delhi, Mumbai, Bengaluru, Hyderabad, and Chennai, in 1kg and 5kg packaging. This launch is in line with Aashirvaad’s commitment to innovation and providing easy and assured solutions to consumers. By making protein more accessible and affordable, Aashirvaad aims to promote healthy eating habits and support the overall wellbeing of Indian consumers.
The launch of Aashirvaad Atta with High Protein is a significant development in the Indian food industry, as it addresses the growing demand for protein-rich products. With its thoughtfully selected blend of ingredients and affordable pricing, this product is likely to be well-received by consumers who are looking for convenient and healthy ways to meet their protein needs. As the brand continues to innovate and expand its product portfolio, it is expected to maintain its leadership position in the packaged atta market.
ITC Eyes Expansion Through Acquisitions, Aims to Create Rs 1,000 Crore Brands
ITC, a prominent player in the FMCG industry, is prioritizing value accretive acquisitions as a core expansion driver under its ‘ITC Next’ strategy. According to Shuvadip Banerjee, Chief Digital Marketing Officer, ITC, the company will continue to explore new opportunities that address consumer needs and build Rs 1000 crore brands.
Recently, ITC has made several acquisitions that have enriched its portfolio by filling strategic white spaces and enhancing its presence in various segments. The company’s food business is one of the largest and fastest-growing packaged foods businesses in India, with a robust portfolio of brands and offerings. Several of its brands, including Aashirvaad, Sunfeast, YiPPee!, and Sunrise, have crossed the Rs 1000 crore mark in terms of consumer spends.
The growth of these brands has been driven by a deep understanding of consumer preferences, a focus on quality, innovation, and differentiation. ITC will continue to explore new opportunities that address consumer needs, with a focus on innovation, category expansion, deepening consumer engagement, and market leadership.
In the post-pandemic era, the FMCG industry is witnessing a trend of premiumization, driven by rising health awareness, lifestyle changes, and digital influence. Consumers are prioritizing products that offer clear value adds, rather than just price and quantity. ITC is responding to this trend by creating premium offerings that cater to the health-seeking new India, growing per capita India, Gen Z, and consumers seeking new sensorial experiences.
For example, the company has launched Right Shift, a brand designed for consumers over 40, with a focus on ‘pro-ageing’ rather than ‘anti-aging’. It has also introduced Korean-inspired products under Bingo! and YiPPee! for the younger audience. Additionally, ITC has launched Sunfeast ‘Wowzers’, a 14-layer cracker biscuit, and introduced bold desi flavors such as chatpata Kairi and Masala Tadka Chaach under Bingo! Tedhe Medhe.
ITC’s cloud kitchen business has also grown significantly in recent years. The company started with one kitchen in Bangalore in 2020 and has since expanded to Chennai, Hyderabad, Mumbai, and Pune. It has four distinct brands – Aashirvaad Soul Creations, ITC Master Chef Creations, Sunfeast Baked Creations, and Sansho by ITC Master Chef – serving gourmet and quality food to discerning consumers. Looking ahead, ITC aims to scale its cloud kitchen business and enter more cities in India.
Overall, ITC is well-positioned to capitalize on the growing demand for premium products in the FMCG industry, while also expanding its presence in the cloud kitchen space. With its focus on innovation, quality, and differentiation, the company is poised to achieve significant growth in the coming years.
ITC’s CMD Puri emphasizes the need to bolster supply chains and research and development to support robust GDP growth and capitalize on emerging opportunities.
ITC Chairman Sanjiv Puri emphasized the importance of building resilient supply chains and increasing investments in research and development (R&D) and intellectual property to create strong Indian brands. He believes this will enable India to address new opportunities in emerging markets with innovative products. Puri made these comments in a statement on social media, where he also praised India’s recent GDP growth of 7.8% in the June quarter, despite global challenges.
According to Puri, India’s consumption-led economy and robust GDP growth trajectory will fuel opportunities across all sectors of economic activity. He described India as an “inspiring icon of resilience, growth and transformative opportunities” as it moves towards becoming the world’s third-largest economy. Puri attributed India’s strong economic foundation to progressive policies, purposeful reforms, and strong domestic drivers.
To achieve the vision of a “Viksit Bharat” (developed India), Puri stressed the need for a sharper focus on building resilient supply chains, enhancing R&D and intellectual property, and creating proudly Indian brands. He believes this will not only serve the domestic economy but also help India tap into new opportunities in emerging markets with innovative products.
Puri also highlighted India’s potential to become a global hub for manufacturing and a powerhouse of the service economy. He noted that with NextGen agriculture, India can also become the food basket of the world. As the chairman of ITC Group, Puri reaffirmed the company’s commitment to investing in scaling up its businesses and enhancing value addition in the economy through its presence in agriculture, manufacturing, and services.
Overall, Puri’s statement emphasizes the need for India to build on its economic strengths and create a more resilient and innovative economy. By investing in R&D, intellectual property, and supply chain resilience, India can create strong brands that will drive growth and opportunities both domestically and internationally. With its strong economic foundation and progressive policies, India is well-placed to achieve its vision of becoming a developed economy and a major player on the global stage.
Reliance aims to reach a ₹1 trillion target in the fast-moving consumer goods sector to compete with industry giants HUL and ITC.
Reliance Industries Ltd (RIL) aims to achieve ₹1 trillion in revenue from its packaged consumer products business, Reliance Consumer Products Ltd (RCPL), within five years. This goal is part of the company’s plan to become India’s largest FMCG company with a global presence. To achieve this, RIL plans to invest ₹40,000 crore over the next three years in building manufacturing capabilities for packaged foods and large-scale infrastructure, including Asia’s largest integrated food parks with AI-driven automation and sustainable technologies.
RCPL, which reported revenue of ₹11,450 crore for the fiscal year 2025, will become a direct subsidiary of RIL, consolidating its consumer brands into a single company. This move will enable sharper execution, faster innovation cycles, and deeper operational focus, critical to winning in consumer markets. RIL has already made significant progress in the FMCG market since its entry in 2022, launching several brands and pursuing mergers and acquisitions.
The company’s expansion into the FMCG sector will intensify competition with established players like Hindustan Unilever and ITC Ltd. However, analysts believe that RIL’s entry into the market will also provide opportunities to convert consumers from unbranded to branded products. RIL’s large manufacturing units can meet both domestic and export demand, and its investment in food processing is a positive development for the sector.
RIL is betting on India’s emerging middle class to drive consumption of branded spices, staples, and face creams. The company has already reached 1.5 million outlets in just 18 months, five times faster than any competitor in the Indian FMCG history. Its omni-channel network will cover 95% of India’s population through retail, digital, and business-to-business channels.
The company’s goal is to enter at least 25 countries in the next 12 months, building an Indian consumer brands powerhouse with global reach. With a significant opportunity to convert consumers from unbranded to branded products, RIL is well-positioned to seize the $2 trillion Indian consumer market opportunity. Rural markets, with 900 million consumers, are driving 65% of the FMCG growth, and RIL’s strategic approach to this market will be critical to its success.
Surat resident apprehended by DGGI for alleged involvement in ₹30 crore input tax credit scam.
The Surat zonal unit of the Directorate General of Goods and Services Tax Intelligence (DGGI) has arrested Sajjad Salim Ali Bhimani, the director of Mahimna Alloys Pvt Ltd, for alleged tax fraud. Bhimani was taken into custody and produced before a court, which ordered him to be sent to 14 days’ judicial custody. The accused is alleged to have availed himself of input tax credit (ITC) of around Rs 30 crore, despite being ineligible, by using bogus firms based in Maharashtra, Gujarat, and Delhi.
According to the DGGI, Bhimani forged bills and papers claiming to trade in mild steel scrap to obtain the ITC. He submitted bills from eight companies, six of which were based in Maharashtra, one in Gujarat, and one in Delhi. However, investigations revealed that all of these companies were bogus and did not supply or receive any goods. The fraudulent transactions involved a taxable value of nearly Rs 200 crore and took place over the last one and a half years.
The DGGI has stated that investigations are ongoing to identify other entities and individuals linked to the network of fake firms. The authorities are working to uncover the extent of the tax fraud and to bring all those involved to justice. The arrest of Bhimani is a significant step in this process, and the DGGI is committed to combating tax evasion and ensuring compliance with goods and services tax (GST) laws.
The use of bogus firms and forged bills to claim ITC is a serious offense, and the DGGI is taking strong action against those involved. The agency is using its powers to investigate and prosecute cases of tax fraud, and to recover the taxes owed to the government. The case against Bhimani is a example of the DGGI’s efforts to crack down on tax evasion and to protect the integrity of the GST system.
ITC to acquire Century Pulp and Paper business, reports Rediff Money News
ITC Ltd has filed a notice with the Competition Commission of India (CCI) seeking approval to acquire the pulp and paper business of Aditya Birla Real Estate Ltd (ABREL) for a sum of Rs 3,498 crore. The proposed transaction involves the sale of Century Pulp and Paper (CPP), a well-established player in the Indian paper industry, as a going concern. Established in 1984, CPP has an installed capacity of 4.8 lakh metric tonnes per annum and is located in Lalkuan, Uttarakhand.
According to the notice filed with the CCI, the proposed transaction does not raise any competition concerns within the relevant markets, as the market is highly competitive and will not cause any appreciable adverse effect on competition. The acquisition is a result of ABREL’s decision to divest its pulp and paper undertaking to focus on its core business of real estate. The company had announced in March that its board had approved the execution of the business transfer agreement for the divestment of CPP to ITC Ltd.
The acquisition is expected to be a value-unlocking exercise for ABREL, enabling the company to pursue growth opportunities in its core business. For ITC, the acquisition is expected to strengthen its paperboards and packaging segment, which has been generating significant free cash flow. During FY20-24, the segment generated a free cash flow of Rs 4,000 crore, and the company expects this trend to continue going forward.
The deal is subject to approval from the CCI, which will review the proposed transaction to ensure that it does not adversely affect competition in the relevant markets. If approved, the acquisition will mark a significant expansion of ITC’s presence in the paper industry, and will provide the company with access to CPP’s manufacturing facilities and expertise. The transaction is expected to be completed for a lump-sum cash consideration of Rs 3,498 crore, which will be paid by ITC to ABREL.
Brokerages are keeping a close eye on stocks including ITC Hotels, Bajaj Finance, Cipla, Trent, and Lemon Tree.
Several Indian companies have come under the spotlight as brokerages have shared their commentary and insights on these firms. ITC Hotels Ltd., Bajaj Finance Ltd., Cipla Ltd., Trent Ltd., and Lemon Tree Hotels Ltd. are among the companies that have garnered attention from analysts.
ITC Hotels Ltd., a leading player in the hospitality industry, has been evaluated by brokerages, which have provided their outlook on the company’s future performance. Based on their assessments, some analysts have revised their target prices for the company, indicating their expectations for its potential growth or decline.
Bajaj Finance Ltd., a major non-banking financial company, has also been under scrutiny. Analysts have shared their perspectives on the company’s financial health, business strategy, and competitive position, which have led to revisions in target prices. The commentary from brokerages suggests that they are closely monitoring the company’s progress and adjusting their expectations accordingly.
Cipla Ltd., a prominent pharmaceutical company, has received attention from analysts, who have evaluated its performance, product pipeline, and market position. The commentary from brokerages indicates that they are reassessing their expectations for the company’s future growth, which has resulted in revisions to target prices.
Trent Ltd., a retail company, and Lemon Tree Hotels Ltd., a hospitality firm, have also been subject to analyst commentary. Brokerages have provided their insights into the companies’ business operations, financial performance, and industry trends, leading to updates in their target prices.
The revisions in target prices by brokerages reflect changes in their fundamental outlook for these companies. Analysts continuously monitor companies’ performance, industry trends, and market conditions, which enables them to adjust their expectations and provide updated commentary. As a result, investors can gain valuable insights into the potential prospects and challenges facing these companies, helping them make informed investment decisions.
Overall, the commentary from brokerages suggests that these companies are being closely watched, and their performance is being continuously evaluated. The revisions in target prices indicate that analysts are adapting their expectations to reflect the latest developments and trends in the industry. As the companies continue to navigate their respective markets, the commentary from brokerages will remain an essential source of information for investors seeking to understand their potential for growth and returns.
FMCG companies adjust their advertising budgets for Q1 of FY26, with some seeing slow growth and others reducing spend.
The Fast-Moving Consumer Goods (FMCG) sector in India has shown a mixed performance in the first quarter of the financial year 2026 (Q1 FY26). According to various reports, some FMCG players have posted record-high sales, while others have faced margin squeezes due to various factors such as inflation and tax breaks.
Heritage, a leading FMCG player, has reportedly achieved record-high sales in Q1 FY26, indicating a strong recovery in the sector. However, other major players like Hindustan Unilever (HUL), ITC, and Britannia have faced margin pressures, which could impact their profitability.
Despite these challenges, the overall sentiment in the FMCG sector is positive, with many players expecting a recovery in urban consumption. The easing of inflation and tax breaks have helped to boost consumer demand, which is expected to drive growth in the sector. As a result, many FMCG majors are planning to increase their advertising spends to capitalize on the recovery trend.
However, concerns remain over low income and job growth, which could impact consumer spending patterns. Urban consumption, which is a key driver of FMCG sales, is still a concern, with many households continuing to feel the pinch of inflation and economic uncertainty.
Despite these challenges, the FMCG sector is expected to show a strong recovery in the coming quarters, driven by the growth of urban consumption and the easing of inflation. Many FMCG players are recalibrating their advertising spends to take advantage of the recovery trend, with some increasing their ad spends to drive sales and growth.
Overall, the FMCG sector in India is showing signs of recovery, driven by the growth of urban consumption and the easing of inflation. While some players have faced challenges, others have posted strong sales growth, indicating a positive outlook for the sector. As the sector continues to evolve, FMCG players will need to adapt to changing consumer trends and preferences to drive growth and profitability.
It’s worth noting that the current economic situation, as of 2025, has a significant impact on the FMCG sector, and the recovery trend may be influenced by various factors such as government policies, inflation, and job growth. The sector’s performance in the coming quarters will be closely watched, and FMCG players will need to be agile and responsive to changing market conditions to drive growth and success.
ITC Hotels signs deal for second Lucknow-based Fortune hotel, slated to launch in 2026.
ITC Hotels has announced the signing of an agreement for its second Fortune hotel in Lucknow, which is expected to open in 2026. This marks the company’s seventh property in Uttar Pradesh, a state that has been a key focus area for ITC Hotels. The new Fortune Select hotel will be a significant addition to the city’s hospitality landscape, catering to the growing demand for business and leisure travel in Lucknow.
The hotel is expected to be a major boost to Uttar Pradesh’s tourism industry, which has been witnessing significant growth in recent years. Lucknow, the state capital, has emerged as a key destination for both business and leisure travelers, with its rich cultural heritage, historical landmarks, and modern infrastructure. The new Fortune Select hotel will be strategically located to cater to the needs of travelers, offering easy access to the city’s major attractions and business hubs.
ITC Hotels has been expanding its presence in North India, and the new Fortune Select hotel in Lucknow is a significant milestone in this journey. The company has been investing heavily in the region, with a focus on creating world-class hospitality experiences that showcase the best of Indian culture and cuisine. The new hotel will be designed to reflect the city’s rich heritage and traditions, with a blend of modern amenities and classic Indian hospitality.
The Fortune Select hotel in Lucknow will be designed to meet the needs of both business and leisure travelers, with a range of rooms, suites, and amenities. The hotel will feature modern conferencing and banqueting facilities, a fitness center, and a range of dining options, including restaurants and bars. The hotel will also offer a range of services and amenities, including Wi-Fi, parking, and concierge services.
Overall, the new Fortune Select hotel in Lucknow is expected to be a major boost to the city’s hospitality industry, offering a world-class experience for business and leisure travelers. With its strategic location, modern amenities, and classic Indian hospitality, the hotel is expected to become a preferred destination for travelers to Lucknow. The opening of the hotel in 2026 is expected to coincide with the growing demand for travel and tourism in the region, and will play a significant role in promoting Uttar Pradesh as a major tourist destination.
ITC’s food-tech division demonstrates substantial growth, achieving a 108% compound annual growth rate, with plans for nationwide expansion on the horizon.
ITC, a leading FMCG company, is making significant strides in the food-tech industry with its cloud kitchen business. Over the last three years, the company has achieved a compound annual growth rate (CAGR) of 108% in this segment. ITC’s food-tech vertical, which combines its foods, hotels, and digital operations, has expanded to 60 cloud kitchens across five cities, offering restaurant-quality meals under four brands. The company’s chairman, Sanjiv Puri, highlighted the business’s potential, stating that it is “setting new benchmarks in culinary innovation and tech-enabled operations” and is being introduced across India.
ITC’s foray into food-tech is part of its broader “Next” strategy, which aims to build future-ready portfolios through organic growth and new investments. The company is leveraging its consumer insights, culinary capabilities from its hotel division, and digital expertise to create a differentiated offering in the meal delivery space. While competitors are focusing on direct-to-consumer snack or grocery platforms, ITC is investing in full-stack meal delivery with branded offerings.
To support its ambitions, ITC has invested in eight manufacturing units and plans to deploy Rs 20,000 crore across businesses in the medium term. The company is also making significant progress in sustainable packaging, with its R&D arm developing compostable and recyclable packaging solutions. ITC’s packaging business has grown 2.4x since FY22, and the company has commenced operations at its new moulded fibre products facility in Madhya Pradesh.
ITC’s financial performance has been impressive, with a 68.9% increase in net profit to ₹35,052 crore in FY25, and a 10.4% increase in revenue from operations to ₹81,612.78 crore. While it remains to be seen whether ITC’s food-tech operation can scale nationally and compete with entrenched delivery-first players, the company’s focus on innovation, technology, and sustainability is yielding positive results. With its strong brand portfolio, culinary expertise, and digital capabilities, ITC is well-positioned to make a significant impact in the food-tech industry.
ITC Hotels strengthens its foothold in North India with the launch of its Welcomhotel brand in Prayagraj, Uttar Pradesh.
ITC Hotels Ltd. has launched Welcomhotel Prayagraj in Uttar Pradesh, marking its seventh property in the state. This new hotel is part of the company’s asset-right strategy and will be operated under a management contract. Located in one of the oldest cities in the world, Welcomhotel Prayagraj combines traditional heritage with modern elegance, catering to both business and leisure travelers. The hotel features 60 spacious rooms and suites, a sanctuary of comfort with stunning views of the city’s historic landscape.
The hotel is strategically located near the confluence of the Ganga, Yamuna, and Saraswati rivers, a sacred site in India. This locale offers a unique ambiance imbued with deep historical resonance and divine tranquility, making it an ideal destination for those seeking to explore the city’s rich cultural and spiritual heritage. Welcomhotel Prayagraj is poised to become a premier venue for destination weddings, intimate gatherings, and corporate events, with its versatile indoor and outdoor banqueting spaces.
Anil Chadha, Managing Director of ITC Hotels Ltd., expressed pride in unveiling the new hotel, stating that it fortifies the company’s footprint in Uttar Pradesh and underscores its dedication to crafting immersive hospitality experiences. JK Agrawal, Owning Board, noted that the project brings together the vision for the city with ITC Hotels’ trusted expertise in hospitality, creating a development that contributes to the local community and economy.
The hotel offers a range of dining options, including an all-day dining restaurant, a pastry shop, a concept bar, and a signature cuisine restaurant. Guests can also enjoy recreational activities such as swimming, fitness, and spa treatments. For those seeking to explore the city, Welcomhotel Prayagraj is conveniently located near iconic tourist attractions, including the Triveni Sangam and the Allahabad Fort. The hotel offers guided heritage walks, spiritual trails, and excursions to nearby sites, making it an ideal base for exploring the city’s rich history and culture.
With six more hotels in the pipeline in Uttar Pradesh, ITC Hotels Ltd. is expanding its presence in the state, demonstrating its commitment to providing exceptional hospitality experiences. Welcomhotel Prayagraj is a testament to the company’s dedication to celebrating local culture while upholding the highest standards of service excellence. The hotel’s launch is a significant milestone, not only for ITC Hotels Ltd. but also for the city of Prayagraj, which is poised to become a major destination for travelers seeking to experience India’s rich cultural and spiritual heritage.
States sound alert over ₹2 lakh crore ITC scam, advocate for robust GST enforcement at GoM revenue analysis conclave
A Group of Ministers (GoM) on revenue analysis, chaired by Goa Chief Minister Pramod Sawant, met on Friday to discuss state-wise revenue trends and enforcement strategies under the Goods and Services Tax (GST) regime. The meeting was attended by finance ministers from several states, who shared their experiences and actions in tackling tax evasion. Punjab Finance Minister Harpal Singh Cheema highlighted a “massive” scale of input tax credit (ITC) fraud, estimated to be around ₹2 lakh crore, and proposed various measures to control it.
The GoM discussed ways to curb fraudulent practices, including tighter scrutiny, data integration between states, and enhanced use of analytics to detect anomalies. The meeting also focused on the use of technology-driven solutions, such as AI-enabled monitoring tools, stricter invoice matching, and state-wise enforcement coordination to address fake invoicing and bogus ITC claims.
The GoM was constituted to evaluate trends in state revenues and suggest policy and administrative measures to improve tax compliance. With GST collections consistently crossing the ₹1.8 lakh crore mark in recent months, the focus has shifted towards curbing evasion and misuse of input credits. The next GoM meeting is expected to finalize concrete recommendations for stronger enforcement, which will be presented to the GST Council.
Cheema urged Union Finance Minister Nirmala Sitharaman to convene the next GST Council meeting soon to act on pending issues, including the report on life and health insurance. The GST Council had decided to reconstitute the GoM on Analysis of Revenue from GST with revised terms of reference in its 55th meeting held on December 21, 2024.
The GoM consists of members from various states, including Bihar, Chhattisgarh, Gujarat, Andhra Pradesh, Maharashtra, Punjab, Tamil Nadu, and Telangana. The meeting was attended physically by Sawant, Cheema, and representatives from Chhattisgarh and Maharashtra, while other member states joined via video conference.
The GoM’s efforts to curb tax evasion and enhance the credibility and efficiency of India’s indirect tax system are crucial, given the significant amount of ITC fraud occurring in the country. The use of technology-driven solutions and coordinated enforcement strategies between states can help to detect and prevent fraudulent practices, ensuring that the GST regime is effective in achieving its objectives.
ITC’s online shopping platform temporarily shuts down amidst significant investments in e-commerce and direct-to-consumer sales.
ITC, a leading FMCG giant, has shuttered its standalone e-commerce platform, ITC Store, stating that it has “served its purpose.” The platform was launched during the peak of the COVID-19 pandemic to cater to the growing demand for online shopping. However, with the pandemic wave subsiding, ITC has shifted its focus to a multi-platform digital distribution strategy, which includes e-commerce, quick-commerce, and modern trade.
The company’s products are now widely available on popular e-commerce platforms such as Swiggy Instamart, Zepto, BigBasket, Blinkit, Amazon, and Flipkart. ITC has reported a significant growth of over 50% in these channels, with its brands experiencing an appreciable increase in sales. The company’s decision to exit its centralized online store is part of its strategic endeavor to enhance its omnichannel reach and strengthen its trade, marketing, and distribution infrastructure across physical and online channels.
Meanwhile, ITC continues to invest in its own direct-to-consumer (D2C) websites, such as classmateshop.com, dermafique.in, and fabelle.in, which offer personalized and premium products that are not typically available on mass e-commerce platforms. This shift in strategy comes at a time when digital sales are revolutionizing FMCG distribution, with over 60% of FMCG companies viewing e-commerce as their most critical sales channel.
ITC’s financial performance has been robust, with a four-fold increase in standalone net profit to ₹19,561.57 crore for the quarter ended March 31, 2025. Revenue from operations rose 9% year-on-year to ₹18,494.06 crore, driven by growth in the cigarette and agri businesses. The non-cigarette FMCG segment clocked ₹5,494.63 crore in revenue during the quarter, marking a modest 3.67% year-on-year growth. However, the segment’s operating profit fell 27.73% to ₹344.89 crore, due to cost pressures, which were partially mitigated through focused cost management initiatives, portfolio premiumization, and calibrated pricing actions.
Overall, ITC’s decision to exit its standalone e-commerce platform and focus on a multi-platform digital distribution strategy is a strategic move to stay competitive in the rapidly evolving FMCG landscape. By leveraging popular e-commerce platforms and investing in its own D2C websites, ITC aims to enhance its omnichannel reach and drive growth in its FMCG business.
ITC Maurya marks International Yoga Day with a focus on mindful movement and wellness.
On June 21st, 2025, ITC Maurya, a luxurious hotel in the heart of New Delhi’s Diplomatic Enclave, celebrated International Yoga Day with a unique and rejuvenating experience. The event, themed “Yoga for One Earth, One Health,” aimed to promote a deeper connection with oneself, the community, and the planet. The morning began with an Aqua yoga session, held at the hotel’s tranquil poolside venue, which offered a harmonious blend of movement and mindfulness. The session was designed to awaken the senses and foster a sense of harmony between the body, breath, and environment.
The Aqua yoga experience was followed by a special breakfast creation, crafted by master chefs, featuring seasonal, local, and nutrient-rich ingredients. The menu included energizing cold-pressed juices, antioxidant-packed smoothies, handcrafted granola bowls, and traditional delicacies made with millets and healing spices. The celebration reflected ITC Hotels’ ethos of Responsible Luxury, which prioritizes well-being and sustainability.
The event was attended by wellness enthusiasts, social media figures, and in-house guests, who came together to experience the serene and rejuvenating atmosphere of the hotel’s Kaya Kalp spa. The spa, rooted in traditional Indian philosophies of health and wellness, offers a range of Ayurvedic and holistic therapies designed to de-stress, detox, and rejuvenate the body and mind.
ITC Maurya is committed to facilitating the pursuit of holistic well-being and fitness, offering a range of amenities and facilities, including a conducive sleep environment, healthy cuisine options, personalized fitness regimes, and exclusive amenities. The hotel’s celebration of International Yoga Day was a testament to its commitment to promoting sustainable and mindful living, while nurturing the well-being of its guests. By hosting this event, ITC Maurya aimed to inspire its guests to adopt a healthier and more balanced lifestyle, in line with the global theme of “Yoga for One Earth, One Health.”
Scrap merchant arrested for creating fake firms to claim Rs 23 crore in fraudulent ITC | Noida News
In a significant crackdown on tax evasion, officers from the Central Goods and Services Tax (CGST) department have uncovered a fraudulent input tax credit (ITC) racket worth Rs 23.5 crore. The scam was linked to a Bulandshahr-based scrap trader, M/s New Global Scrap Traders, which allegedly used fake invoices and non-existent firms to claim and pass on ITC. The searches were conducted at the firm’s premises in Sikandrabad and eight other locations in western Uttar Pradesh, which were registered as business addresses of suppliers associated with the firm.
However, all the addresses were found to be fictitious, raising red flags and indicating a systematic scam. The firm had claimed and passed on ITC without any actual movement of goods between 2021-22 and 2022-23. ITC is a credit that companies can claim from the government for having already paid Goods and Services Tax (GST) while purchasing items or services for their business. The firm’s proprietor, Azaharuddin, confessed during interrogation that he passed on ITC solely by exchanging invoices with bogus entities.
The scheme relied on generating fake invoices to illegally claim tax credits, which were then passed on to other firms, causing significant losses to the government. The CGST officers acted on specific intelligence inputs to conduct the searches and uncover the scam. The use of fake invoices and non-existent firms to claim ITC is a serious offense, and the government has been cracking down on such tax evasion schemes.
The uncovering of this scam highlights the importance of monitoring and verifying the authenticity of invoices and businesses to prevent tax evasion. The government has been taking steps to prevent such scams, including implementing measures to track and verify invoices and businesses. The CGST department’s crackdown on tax evasion is expected to continue, and more such scams are likely to be uncovered in the future. The Rs 23.5 crore scam is a significant amount, and the government will likely take action to recover the lost revenue and prevent such scams from occurring in the future.
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.
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.