ITC Ltd Share Price – NSE /  BSE

Tobacco Products, Mid Cap

ITC Ltd fell for a fifth straight session today. The stock is quoting at Rs 465.25, down 0.15% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.34% on the day, quoting at 23452.35. The Sensex is at 77362.6, down 0.28%.ITC Ltd has eased around 3.8% in last one month.Meanwhile, Nifty FMCG index of which ITC Ltd is a constituent, has eased around 7.07% in last one month and is currently quoting at 55782.7, up 0.42% on the day. The volume in the stock stood at 61.31 lakh shares today, compared to the daily average of 94.97 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 466.4, down 0.12% on the day. ITC Ltd jumped 6.51% in last one year as compared to a 19.08% rally in NIFTY and a 6.6% spurt in the Nifty FMCG index.

The PE of the stock is 28.28 based on TTM earnings ending September 24.

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ITC has allotted 11,19,510 ordinary shares of Re 1/- each, upon exercise of 1,11,951 options by optionees under the Company's Employee Stock Option Schemes.

Consequently, with effect from 15 November, 2024, the Issued and Subscribed Share Capital of the Company stands increased to Rs 1251,08,11,851/- divided into 1251,08,11,851 ordinary shares of Re 1/- each.

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The domestic equity indices traded with significant losses in mid-morning trade. The Nifty slipped below the 24,200 level after hitting the day’s high of 24,440.25 in early trade. Consumer durables shares extended losses for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 558.82 points or 0.70% to 79,506.74. The Nifty 50 index dropped 226.90 points or 0.93% to 24,172.50.

In the broader market, the S&P BSE Mid-Cap index fell 1.56% and the S&P BSE Small-Cap index declined 2.14%.

The market breadth was weak. On the BSE, 590 shares rose and 3,145 shares fell. A total of 100 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Afcons Infrastructure received bids for 24,21,984 shares as against 8,66,19,950 shares on offer, according to stock exchange data at 11:20 IST on Friday (25 October 2024). The issue was subscribed 0.03 times.

The issue opened for bidding on Friday (25 October 2024) and it will close on Tuesday (29 October 2024). The price band of the IPO is fixed between Rs 440 to Rs 463 per share. An investor can bid for a minimum of 32 equity shares and in multiples thereof.

The initial public offer (IPO) of Godavari Biorefineries received bids for 77,26,782 shares as against 1,12,74,739 shares on offer, according to stock exchange data at 11:20 IST on Friday (25 October 2024). The issue was subscribed 0.69 times.

The issue opened for bidding on Wednesday (23 October 2024) and it will close on Friday (25 October 2024). The price band of the IPO is fixed between Rs 334 to Rs 352 per share. An investor can bid for a minimum of 42 equity shares and in multiples thereof.

Buzzing Index:

Nifty Consumer Durables index dropped 3.65% to Rs 39,242.35. The index fell 3.93% in past two consecutive trading sessions.

Dixon Technologies (India) (down 12%), Rajesh Exports (down 4.14%), Kalyan Jewellers India (down 3.51%), Whirlpool of India (down 3.08%), Cera Sanitaryware (down 2.58%), Crompton Greaves Consumer Electricals (down 2.4%), V-Guard Industries (down 2.37%), Titan Company (down 2.13%), Voltas (down 2.06%) and Havells India (down 2%) declined.

Stocks in Spotlight:

ITC rallied 3.71% after the diversified conglomerate’s net profit rose 3.07% to Rs 4,917.45 crore in Q2 FY25 as against Rs 4,926.96 crore posted in Q2 FY24. Net revenue (excluding excise duty) was at Rs 19,150.32 crore in the September quarter FY25, up 16.81% from Rs 16,393.74 crore recorded in the corresponding quarter previous year.

Radico Khaitan gained 3.87% after the company’s standalone net profit jumped 32.82% to Rs 82.19 crore on 20.68% increase in net sales to Rs 1,116.30 crore in Q2 FY25 over Q2 FY24.

Global Markets:

Most Asian stocks advanced on Friday as investors looking ahead for Japan’s general election over the weekend.Japanese shares declined in anticipation of a hotly contested general election this Sunday. Concerns about potential currency market intervention by the Japanese government, as the yen approached three-month lows, also weighed on sentiment.

Soft inflation data further pressured the yen. The October headline Tokyo Consumer Price Index (CPI) rose 1.8% year-over-year (YoY), compared to 2.2% in the previous month, according to the Statistics Bureau of Japan.

U.S. equities were mixed on Thursday as investors prepared for a series of major tech earnings reports. Rising geopolitical tensions in the Middle East, with Israel threatening a strike against Iran, also dampened risk appetite. The Dow Jones Industrial Average fell 0.33%, while the S&P 500 rose 0.21%, and the NASDAQ Composite gained 0.76%.

Tesla led the broader market index, surging nearly 22% after reporting third-quarter results that exceeded expectations. This marked its best day since 2013. Whirlpool and UPS also climbed after posting strong results.

IBM dragged down the Dow, falling over 6% as its consulting revenue narrowly missed estimates. Boeing slipped 1.2% after its machinists rejected a new labor contract.

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Net revenue (excluding excise duty) was at Rs 19,150.32 crore in the September quarter FY25, up 16.81% from Rs 16,393.74 crore recorded in the corresponding quarter previous year.

Profit before exceptional items and tax was at Rs 6,754.68 crore in Q2 FY25 as compared to Rs 6,513.50 crore reported in Q2 FY24. It includes exceptional item aggregating Rs 1.15 crore as on 30 September 2024.

EBITDA was at Rs 6,335 crore in the September quarter as against Rs 6,042 crore registered in Q2 FY24.

Total FMCG segment revenue grew by 6% YoY to Rs 13,755 crore during the period under review.

The FMCG-others businesses revenue rose 5% YoY amidst subdued demand conditions & disruptions a/c excessive rains in parts of the country. The segment EBITDA up 2% YoY; marginal drop of 35 bps in margins amidst inflationary headwinds in input costs; 2-year CAGR up 13%. The growth in this segment was driven by staples, biscuits, snacks, frozen snacks, dairy, premium soaps, homecare & agarbatti drive growth.

The FMCG – Cigarettes net segment revenue was up 7.3% YoY, segment PBIT rose 5.1% YoY. ITC's market standing continues to be reinforced through strategic portfolio and market interventions with a focus on competitive regions and counter illicit trade. Moreover, differentiated and premium offerings continue to perform well. Severe cost escalation in leaf tobacco partially mitigated through improved mix, strategic cost management and calibrated pricing actions.

The revenue from ITC's Hotels segment surged 17% to Rs 789.16 crore. The growth was driven by F&B, retail and wedding segments. Hotels Segment delivered a strong performance on a high base (LY includes G20 related business), it said, adding that the EBITDA of the Hotel business expanded 70 bps YoY, driven by higher RevPAR (revenue per available room), operating leverage and strategic cost management.

The agribusiness jumped 47% to Rs 5,845.25 crore in the September quarter of FY25, led by leaf tobacco and value-added agri products.

ITC's revenue from 'paperboards, paper and packaging' segment increased 2.14% to Rs 2,114.18 crore in Q2 FY25. It remains impacted due to low-priced Chinese supplies in global markets, including India, soft domestic demand conditions and unprecedented surge in wood prices, said ITC.

Moreover, subdued realisation, the surge in domestic wood prices and ocean freight continue to weigh on margins. Unseasonal rains adversely impact wood availability, quality and procurement price, it added.

The revenue from other segments including its information technology services and branded residences added 10.03% to Rs 1,004.27 crore in Q2 FY25 against Rs 912.71 crore in Q2 FY24.

Meanwhile, ITC informed that its board has recommended the approval of the appointment of Siddhartha Mohanty as a non-executive director of the company for three years with effect from 1 January 2025. He will represent the Life Insurance Corporation of India.

Further, the company’s board approved acquisition of 1,52,32,129 equity shares of 2 each of EIH and 34,60,829 Equity Shares of 21 each of HLV, from Russell Credit, a wholly owned subsidiary of the company, at their respective book value, in order to consolidate shareholding of EIH and HLV under the company. Post such acquisition, the total share holding of the company in EIH and HL V would be 16.13% (10,08,53,602 equity shares) and 8.11% (5,34,13,884 equity shares) of their paid-up share capital, respectively. Also approved acquisition from RCL of the entire share capital (comprising 4,20,60,166 equity shares of 10 each) of Greenacre Holdings, an unlisted company and a wholly owned subsidiary of RCL, at book value.

ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology.

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