India’s largest cigarette maker – ITC – has posted its best start to the year since 2006. So far in 2022, share prices of ITC have gained close to 22% – the highest since 2006 when it reported gains of over 40%.This is also the first time in the last six quarters, that foreign institutional investors have hiked their stake in the conglomerate. FII has increased its holding by two percentage points in Q4FY22. However, the LIC of India has sold a small part of its stake during the same time period.Out of the five divisions of ITC, four are profitable at the EBIT level – cigarette, hotel, paper, and FMCG, while the agri-commodities business has made losses in the past few quarters.Watch the video to know more.
LIBN, April 15, 2022 – Long Island Business News
Get our free LIBN e-alerts & breaking news notifications! By: LIBN Staff April 14, 2022 LIBN’s Digital Edition is available on most mobile and desktop browsers. Long Island Business News offers subscribers a digital edition of the paper that gives readers the look and feel of a print product recreated online. Access...
