RIL chairman Mukesh Ambani gets 205 times company's median salary
Posted on 6th July 2015 |
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Mukesh Ambani, the richest Indian and Reliance Industries (RIL) chairman and MD, has not taken a pay hike for seven years, but his pay package is over 205 times that of the median employee remuneration at RIL. This ratio stands at 439 times in case of ITC Executive Chairman Y C Deveshar. The ratio stands much lower at 89 times in case of information technology (IT) major Wipro Chairman and Managing Director Azim Premji, and at 19 times for HDFC Chairman Deepak Parekh for 2014-15. |
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Four ITC brands cross Rs 1,000 cr revenue mark
Posted on 1st July 2015 |
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Aashirvaad, Sunfeast, Classmate and Bingo! by ITC crossed the Rs 1,000-crore revenue mark in the last fiscal, while many of its other brands grossed more than Rs 500 crore, the company said in its annual report. All of ITC’s brands in the last fiscal clocked revenue of Rs 11,000 crore. ITC’s brands range across categories such as food, stationery and personal care products. The food and other business division reported 11% rise in gross revenue in the previous fiscal at Rs 9,038 crore. |
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ITC buys 38 flats in Mumbai for close to Rs 140 cr
Posted on 24th June 2015 |
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Kolkata-headquartered ITC has snapped up 38 apartments in Crescent Bay, located in Parel, central Mumbai, for close to Rs 140 crore. The purchase comes as a bit of a surprise given most companies prefer to lease apartments rather than buy them. While the going rate for flats in the area is anywhere between R25,000 and R27,000 per sq ft, the cigarette major is understood to have got itself a good deal, paying around R23,000 a sq ft. The residential complex, promoted by Larsen & Toubro, houses flats with both two and three bedrooms covering between 1,320 sq ft and 2,100 sq ft, priced at R3-5 crore. |
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ITC to remove 'no added MSG' disclaimer from Yippee noodles
Posted on 17th June 2015 |
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After Nestle's decision to remove 'no added MSG (monosodium glutamate)' tag from Maggi, rival ITC has decided to do the same with their instant noodles brand Yippee. ITC sells Yippee under the Sunfeast brand. The company, led by chairman Y C Deveshwar, has already started the process of removing the phrase from new batches of its products. ITC has stated its products have been found to be in compliance with all food safety regulations and safe for consumption. |
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ITC plans Rs 4000 cr investment to expand paper production
Posted on 15th June 2015 |
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The agribusiness-to-cigarette conglomerate ITC Ltd is reportedly planning to invest about Rs 4000 crore in expanding paper production capacity of Bhadrachalam Paper Board in Telangana. Capex is a part of Rs 8000-crore investment plan announced by Y C Deveshwar, chairman of ITC, on June 12, 2015 during the launch of the Telangana government's new industrial policy, which promises super fast single window approvals and zero tolerance to corruption. Half of the said investment is expected to go into building new hotels and a new food processing plant in Medak district of Telangana. |
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ITC pushes Yippee to replace Maggi
Posted on 13th June 2015 |
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With Maggi off the shelves, rivals are eyeing to capture the space. ITC, which sells Yippee noodles under its Sunfeast brand, has taken to the direct communication route to push the sales. It has provided retailers with leaflets to be shown to Maggi loyalists. The leaflets assure customers of Yippee’s quality and safety standards. "Stringent tests are conducted for our food products at ITC's NABL (National Accreditation Board for Testing and Calibration Laboratories)-accredited Life Sciences and Technology Centre as well as FSSAI (Food Safety and Standards Authority of India)-approved, NABL-accredited external laboratories. |
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ITC plans to scale up watershed development programme
Posted on 9th June 2015 |
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NEW DELHI: ITC Limited, one of India's leading multi-business conglomerate, has on the eve of the World Environment Day announced a rapid scale-up of its highly acclaimed Integrated Watershed Development Programme. The programme has already brought soil and moisture conservation to half a million acres in the country. The company targets to double the area to nearly 1 million acres by 2018. |
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Nifty holds 8,150 mark; Coal India, Sun Pharma top gainers
Posted on 5th June 2015 |
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Benchmark indices are trading firm amid choppy trades aided by metal, capital goods and defensive sectors like pharma and FMCG. However, the upside is capped due to selling pressure among financials and index heavyweight shares like ITC and RIL. At 13:08 PM, the 30-share Sensex was up 139 points at 26,949 and the 50-share Nifty gained 40 points at 8,171. |
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Sensex down 150 points; Tata Motors, ITC, HDFC decline
Posted on 26th May 2015 |
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Benchmark indices have extended losses and are trading near day’s lower dragged by index heavyweight shares like Tata Motors, ITC and HDFC. By 14:05, the Sensex was lower by 156 points at 27,489 and the Nifty slipped by 45 points at 8,325. |
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ITC declines on disappointing Q4 results
Posted on 25th May 2015 |
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Shares of ITC have dipped 3% to Rs 319 on the NSE in early morning trades after the company reported a lower-than-expected 3.7% year on year (yoy) growth in its net profit at Rs 2,361 crore for the fourth quarter ended March 31, 2015 (Q4) due to muted growth in cigarette business and decline in agri segment. The fast moving consumer goods (FMCG) major had posted a profit of Rs 2,278 crore in the year-ago quarter. Net sales rose marginally by 0.47% to Rs 9,188 crore in the quarter under review from Rs 9,145 crore in the year-ago period, ITC said in a BSE filing. |
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