ITC shares fall 2% post Q3; analysts see up to 23% upside
Hotels business was a stand-out contributor, followed by FMCG, while paperboard and agri remained under severe pressure.
Hotels business was a stand-out contributor, followed by FMCG, while paperboard and agri remained under severe pressure.
ITC will hold a stake of about 40% in the new entity and the balance shareholding of about 60% to be held directly by the company's shareholders
Shares of cigarette-to-hotel conglomerate gained as much as 6.3% in early trade to hit a fresh record high of ₹384.4 even after the government raised duty on cigarettes by 16%.
Profit led by FMCG segment and cigarette business; ITC says geopolitical tensions and supply chain issues hardened commodity prices, creating “unprecedented” inflationary conditions