New Delhi, Jan 31 () FMCG major ITC on Friday reported a 29.03 per cent increase in consolidated net profit at Rs 4,047.87 crore for the third quarter ended December 2019.
 The company had posted a net profit of Rs 3,136.95 crore in October-December quarter of the previous fiscal.
 Net sales during the quarter under review rose 5.71 per cent to Rs 13,220.30 crore as against Rs 12,506.05 crore in the corresponding period in previous fiscal, ITC said in a regulatory filing.
 "The company posted a steady performance during the quarter amidst a particularly challenging operating environment," ITC said in a post earning statement.
 According to the company, the macro-economic environment continues to be adversely impacted as reflected in deceleration in GDP growth and persistent weakness in consumption demand and investments.
 "Delayed arrival of the Kharif crop due to spatial variations in rainfall, especially close to the harvest season, commodity price inflation together with disruptions in certain parts of the country exacerbated the already challenging operating environment during the quarter," ITC said.
 "Expectations of a good Rabi crop and a slew of measures announced by the government in recent months including reduction in corporate tax rates, initiatives to boost infrastructure and promote exports, augur well for the revival of the economy," it added.
 ITC's total expenses during the third quarter rose 5.25 per cent to Rs 8,779.14 crore as compared with Rs 8,340.61 crore in the year-ago quarter.
 During the quarter, revenue from total FMCG business was up 4.66 per cent to Rs 9,265.31 crore as against Rs 8,852.05 crore in the year-ago period. 
 Total FMCG business comprises segments like cigarettes and FMCG-others.
 Revenue from cigarettes stood at Rs 5,944.86 crore in the October-December quarter, up 5.31 per cent from Rs 5,645.05 crore in the corresponding period last fiscal.
 "Performance during the quarter reflects the persistent weakness in the overall demand environment, especially in rural markets and wholesale channel, tight market liquidity conditions and the increasing salience of illicit trade especially at the premium end," ITC said.
 Revenue from FMCG-others segment was up 3.53 per cent to Rs 3,320.45 crore as against Rs 3,207 crore a year ago.
 "The FMCG-Others Segment delivered a resilient performance during the quarter which witnessed a slowdown in overall growth rates both in urban and rural markets. Categories with relatively higher rural salience remain the most impacted," it said.
 FMCG-others segment of ITC consists of branded packaged foods like staples, snacks, meals, dairy and beverages, confections, apparel, education and stationery products, personal care products, safety matches and incense sticks.
 ITC's hotel business revenue rose 21.13 per cent to Rs 574.26 crore during the quarter as compared with Rs 474.06 crore in the corresponding period last fiscal.
 "The business posted a strong performance during the quarter with segment revenue and segment EBITDA growing by 22.2 per cent and 40.1 per cent respectively. There was all-round improvement, with both existing and new properties recording robust increase in RevPAR (revenue per available room) and F&amp;B sales. Higher room rates and operating leverage aided margin expansion," ITC said.
 Revenue from agri-business segment rose 10.43 per cent to Rs 2,258.87 crore as against Rs 2,045.38 crore in the December quarter of the previous fiscal.
 "In the agri business segment, growth in segment revenue was driven by trading opportunities in oilseeds, pulses &amp; coffee and scaling up of value added segments (spices and frozen snacks)," ITC said.
 Subdued demand for leaf tobacco in international markets accentuated by relatively steeper depreciation in currencies of competing origins and adverse business mix weighed on segment results, it added.
 Paperboards, paper and packaging segment revenue rose marginally by 0.83 per cent to Rs 1,555.36 crore as against Rs 1,542.51 crore of Q3/FY2018-19
 "Paperboards, paper &amp; packaging segment revenue witnessed muted growth on a relatively firm base due to slowdown in the FMCG and liquor industry and depressed realisations on softening of global pulp prices," the company said.
 Revenue from others segment, which includes information technology services, branded residences, among others, reported a 9.99 per cent growth at Rs 563.69 crore as against Rs 512.48 crore.
 In a separate filing, ITC said its board has appointed Atul Jerath as Additional Non-Executive Director of the company.
 Jerath is the Chief Underwriting Officer of The Oriental Insurance Company Ltd, overseeing a wide portfolio including property, health and aviation insurance, it added.
 Shares of ITC on Friday closed 0.60 per cent higher at Rs 235.25 apiece on the BSE. KRH RVK

ITC Q3 net profit up 29 pc at Rs 4,047.87 crore

<keyword id="3151062" type="ORGANIZATION" weightage="20" keywordseo="ITC-Chairman-YC-Deveshwar">ITC chairman YC Deveshwar</keyword>, who will retire in 2017, is apparently looking for a younger successor as he elevated executives to greater roles. 
 
Deveshwar announced a string of changes in an internal note on the company's website. 
 
Sanjiv Puri, 52, who is going to be director of the fast-moving consumer goods (FMCG) business including cigarettes from next month, will now also handle paperboard, paper, packaging and printing businesses from January. 
 
This elevation makes him responsible for driving almost 80% of the ITC business. 
 
Meanwhile, the ITC chairman also elevated B Sumant, 52, chief executive of the cigarette business and non-cigarette FMCG trade marketing and distribution, as president of the entire FMCG business. 
 
Not only this, Sumant will also join company's corporate management committee. 
 
Hemant Malik, who was earlier chief executive for the tobacco business, is also elevated as chief executive for both cigarette and FMCG distribution. 
 
(Image: Indiatimes)

ITC chairman YC Deveshwar may announce a younger successor as he promotes executives

<ul><li>This startup promises relief to those suffering from nicotine addiction, Parkinsons, chronic pain and <keyword id="15418" type="General" weightage="70" keywordseo="anxiety" source="Orion">anxiety</keyword> with its <keyword id="14728" type="General" weightage="70" keywordseo="cannabis" source="Orion">cannabis</keyword> laced products.</li><li>More than 50 plus startups have mushroomed in India over the last two years after the FSSAI allowed sale of <keyword id="1957434" type="General" weightage="80" keywordseo="hemp" source="Orion">hemp</keyword> seed or hemp seed oil as food or ingredients in food.</li><li>Cannabidiol found in hemp products is not a psychoactive substance that gives a “high”. <keyword id="6607408" type="General" weightage="90" keywordseo="cbd" source="Orion">CBD</keyword> has medicinal properties and can be used as therapy for many ailments. </li></ul> If you are looking to kick the butt, but are finding it hard to do so, you may consider switching to “hemp rollens” – cigarettes made from cannabis leaves and flowers. And it is perfectly legal. Trost, a two-year old startup, sells a variety of products made from cannabis that promise to give relief from epilepsy, chronic pain, anxiety and even autoimmune disorders. Says Harshal Goel, Founder of Trost, a startup that produces therapeutic products derived from hemp extracts, “Cannabidiol or CBD has a plethora of benefits because it has medicinal benefits. From epilepsy to Parkinsons, CBD can help people. It also helps to manage chronic pain.” Not surprising that he has named his startup Trost – which means solace in German. Today, consumers can find solace in CBD laced chocolates and protein powders too. In 2021, the Food Safety and Standards Authority of India issued a notification that said hemp seed, hemp seed oil and hemp seed flour could be sold as food or used as an ingredient in food products provided that they conformed to stipulated standards. Following which startups are now selling hemp-based protein powders too and not just hemp-based herbal cigarettes. Ayurvedic blend of potent herbs The concept of hemp cigarettes is rooted in "Dhuma Yoga," an Ayurvedic blend of five potent herbs including cannabis, datura, henbane, vasa, and cavya - to create a distinct form of smoke therapy called Dhumapana. According to Trost, burning these herbs creates smoke that the user inhales and exhales through their nose and mouth. According to some ayurveda aficionados, this therapy can enhance respiratory health. It is not just in India that CBD is becoming acceptable. The future of cannabis was also discussed at the World Economic Forum in 2020. Traditionally, cannabis has been seen as a means of getting “high”, but researchers have also found medicinal use cases of the plant, provided the presence of psychoactive substance THC is negligible. Hemp should not be confused with <keyword id="40905" type="General" weightage="100" keywordseo="marijuana" source="Orion">marijuana</keyword> as it also contains negligible amounts of THC (tetrahydrocannabinol), which gives a “high.” Consumption of hemp flowers and extracts like CBD oil or hemp seed oil are legal in India, provided they do not contain 0.3% of THC. This is booming business now for more than 50 startups in India that seek to bring solace to Indians battling anxiety or chronic pain. <div type="image" title="Harshal_Trost" agency="Business Insider India" msid="103686011" hostid="261" sizebytes="102332"></div> Cannabis: A licensed business Several states in India have legalised cultivation of industrial hemp. In 2018, Uttrakhand legalised its production and soon Uttar Pradesh followed suit. In April 2023, the state government of Himachal Pradesh also decided to legalise the cultivation of cannabis to boost the local economy. The Ministry of AYUSH is also issuing licences to startups that want to offer CBD products as cures for a variety of ailments. To buy these products, you need to have a prescription from an ayurvedic doctor. Like Trost, most of the startups have mushroomed in the last few years. In 2017, Harshal Goel, then a student at City University, London, learned about Switzerland's legalisation of low-THC cannabis. Intrigued, he visited Switzerland to explore the plant's potential and legal framework. Inspired by the innovation around cannabis products like chocolates and creams, Goel launched medicinal herbal hemp cigarettes in Switzerland. After seeing the success of his venture in Switzerland, he returned to India and founded Trost to offer natural, plant-based products as therapies. If you have recently visited Thailand, you must’ve noticed cannabis shops sprouting like wild weed. The country decriminalised marijuana or ganja in June 2022 and it has given its economy, which is heavily dependent on tourism, a big boost. The decriminalisation, like in many states in the US, was first done in 2018 for medical purposes. Hemp rollens or herbal cigarettes is its most popular product because it helps smokers kick the butt, even though the experience of smoking rollens is very different from a tobacco cigarette. But Trost may be the future of the likes of tobacco majors like ITC. The promise of this pudding can be gauged from the $650 mn that Philip Morris, a global tobacco major, is committing to acquire a cannabis company based in Israel. According to reports in July 2023, Philip Morris is close to acquiring <keyword id="1609269" type="General" weightage="100" keywordseo="medical-marijuana" source="Orion">medical marijuana</keyword> inhaler maker, Syqe Medical, for $650 mn. This would not be the first investment Philip Morris has made in the company as it has earlier invested $20 mn in a company that offered metered inhaler doses of medical marijuana for pain management. Fastest growing plant on the planet Cannabidiol may be new to India, but cannabis is not. In fact, leaves of the female cannabis plant is known as “bhang” which is also offered to Lord Shiva. But startups like Trost are not offering that kind of solace. Trost is a D2C startup that not only offers CBD based therapies but also sells tobacco-free rollens made from cannabis Not only do these cigarettes help deal with nicotine addiction, it also promises to calm the nerves and have a relaxing effect. Industrial hemp is a botanical class of cannabis, which is often used in medicines to relieve anxiety, <keyword id="23666" type="General" weightage="70" keywordseo="stress" source="Orion">stress</keyword> and pain. No wonder, apart from bamboo, hemp is the fastest growing plant on the planet. Interestingly, hemp also contains THC but not in the same quantity as marijuana does. While Trost may be promising solace to a post-pandemic world where anxiety and stress are as common as cold and flu, these hemp startups cannot advertise. To create more awareness around their products, they are even looking at offline stores. Hemp and cannabis startups like Trost, Boheco, Happie Herb, Cannary, Wildleaf and Oreka are members of an industry body called Pan India Medical Cannabis and Hemp Association (PIMCHA) to educate governments on the benefits of medicinal cannabis and root for the industry’s cause through legal reforms.

From Weed To Wellness: Cannabis is no longer a bad word thanks to startups like Trost that promise to bring solace to users

<ul><li>Listed cigarette players have been gaining due to increase in sales, and enforcement agencies cracking down on illicit trade. </li><li>ITC stock has been gaining, thanks to double-digit volume growth and market share gains in its cigarette business. </li><li>Godfrey Phillips, VST Industries and Kothari Products have also delivered positive returns in the last one year. </li><li><keyword id="382997" type="General" weightage="20" keywordseo="alcohol-stocks" source="Orion">Alcohol stocks</keyword> like Radico Khaitan and United Spirits have also gained as events and weddings are expected to aid a spike in consumption. </li></ul>It’s a good time to be in the business of alcohol and cigarettes. Most stocks in these businesses have given positive returns to investors — a few of them by over 50% in the last one year – and the outlook for these industries is bright too, according to analysts. The best performer of the pack remains ITC. And while it’s a conglomerate with interests across fast-moving consumer goods (FMCG), hotels and more — its legacy business of cigarettes remains its mainstay. A market leader in cigarettes and its brands like Wills Navy Cut, Gold Flake and more contribute to 39% of sales, and 76% of EBIT or earnings before interest and taxes. This business is expected to remain the cash cow for the company going ahead as well – as its new launches in the premium category gain traction amid robust demand. Added to that, action from enforcement agencies by cracking down on smuggled foreign brands continues to enable volume recovery which in turn boosts the company’s revenue. In the fourth quarter, cigarette revenues grew 13.7%, year-on-year. “The cigarettes business continues to deliver double-digit volume growth and market share gains in the absence of competition from illicit trade, even as the recent tax hike is unlikely to dent sales,” said a research report by Bobcaps. It’s not just ITC that’s gaining from the robust demand for cigarettes. Godfrey Phillips – which sells Four Square and Marlboro brands – also gave stellar returns in the last one year. The company’s board has also increased the dividend to ₹44 per share in FY23 from ₹28 paid last year, giving a fillip to the shares. Other stocks in the sector – be it Hyderabad-based VST Industries that distributes cigarettes and tobacco products or even Kothari Products that sells Pan Parag and Pan Masala – have provided positive gains over a one-year period, with the exception of NTC Industries of Kolkata. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-year returns </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godfrey Phillips </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VST Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kothari Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTC Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sula Vineyards </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.6% (since listing)* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">United Spirits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radico Khaitan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">United Breweries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.4% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: BSE Sula Vineyards listed on the bourses in December 2022 Booze stocks on a high Stocks of <keyword id="742786" type="General" weightage="20" keywordseo="alcohol-companies" source="Orion">alcohol companies</keyword> have also been picking up pace in the last one year. Although United Breweries gave paltry returns — the rest have risen between 15-51%, including the recently listed Sula Vineyards, whose stock has run up 38.6% since its debut on the bourses. The sector is all set for good growth, according to analysts. The Indian whisky market, valued at $14.9 billion in FY20, is projected to touch $22.4 billion by FY25 on the back of demographic trends, new customers and premiumisation, said a research report by Nuvama. “The market is set to drive value growth with strong premiumisation trends leading to up-trading within the category as well as an increasing preference for high-value products across price segments,” the research report said. “Events and marriages are back to pre-Covid levels and shall drive a spike in alcohol consumption. This could negate the urban slowdown,” the report said. However, three of the listed players — Radico Khaitan, United Breweries and United Spirits have been stressed by margin worries because of high input costs. Apart from steady growth in demand, stocks in the sin category are also gaining from a clutch of other favourable market factors, which bodes well for these businesses. “Liquor industry finally saw some green shoots in margins after tepid three quarters. We expect long-term growth momentum to sustain even as near-term stress on margins persists. The worst is likely behind,” said Nuvama. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

Brewing gains: Alcohol as well as cigarette stocks on a high

<ul><li><keyword id="4343578" type="General" weightage="80" keywordseo="adani-green" source="Orion">Adani Green</keyword> is now the seventh largest company in India by market capitalisation.</li><li>This means that <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Green is now more valuable than India’s largest bank, the <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword>, the largest private home finance company HDFC and tobacco giant, ITC, among others.</li><li>We try to understand what is driving the rally in Adani Green, read on to find out.</li></ul>Adani Green Energy is now the seventh largest company in India by market capitalisation, beating the government-owned State Bank of India, India’s largest bank, HDFC, India’s largest private home finance company and tobacco giant ITC. Adani Green’s shares have surged over 50% in the last month. This is extremely impressive usually, but there are two other Adani group companies which have outperformed Adani Green by a huge margin. <div type="image" title="Adani Green 01_01_22 to 26_04_22." msid="91092958" hostid="261" caption="&amp;lt;p&amp;gt;Adani Green share price in 2022&amp;lt;/p&amp;gt;"></div> In comparison, SBI’s share price has barely moved. It is up just 1.5% in the last month, and due to the surge in Adani Green, SBI has dropped one place to the eighth position in the list of largest companies in India by market capitalisation. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Current market capitalisation </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Change in last one month </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹4,53,900 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50.40% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹4,50,500 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1.50% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE <cmsannotation type="cmsannotation" annotationid="Adani group stocks are rallying" comment="subhead" text="Adani group stocks are rallying">Adani group stocks are rallying</cmsannotation> There has been a tremendous rally in Adani group stocks over the past few weeks, after these group companies took a beating earlier towards the end of 2021. <div type="javascript" title="Custom" contenttype=""><cdata><![CDATA[]]></cdata></div> Two companies – <keyword id="45417" type="General" weightage="50" keywordseo="adani-power" source="Orion">Adani Power</keyword> and <keyword id="236770" type="General" weightage="50" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> – crossed ₹1 lakh crore market capitalisation for the first time in their history, making <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> the fifth richest person in the world, beating Warren Buffett in the process. So, what exactly is driving the massive rally in Adani Green’s stock? There are three reasons. <cmsannotation type="cmsannotation" annotationid="1. Over 50% surge in total operational capacity" comment="subhead" text="1. Over 50% surge in total operational capacity">1. Over 50% surge in total operational capacity</cmsannotation> In an exchange filing earlier this month, Adani Green reported a surge of 56% in its total operational capacity to 5,410 megawatts (MW) in the March 2022 quarter, compared to a year ago. In the same period, its total energy sales surged 84% to 2,971 million units, from 1,614 million units a year ago. This, together with the expansion of operational capacity, shows that the company’s business is growing. <cmsannotation type="cmsannotation" annotationid="2. A $500 million investment from Abu Dhabi-based International Holding Company" comment="subhead" text="2. A $500 million investment from Abu Dhabi-based International Holding Company">2. A $500 million investment from Abu Dhabi-based International Holding Company</cmsannotation> Adani Green raised $500 million (approx. ₹3,850 crore) in the form of primary capital from Abu Dhabi-based International Holding Company. This, the company said, would help deleverage the balance sheet and improve the credit rating of Adani Green. In turn, this would help reduce the company’s cost of capital, and thereby, improve profits. <cmsannotation type="cmsannotation" annotationid="3. A nearly-$300 million debt pool to finance solar and wind power projects" comment="subhead" text="3. A nearly-$300 million debt pool to finance solar and wind power projects">3. A nearly-$300 million debt pool to finance solar and wind power projects</cmsannotation> Adani Green also raised $288 million (approx. ₹2,200 crore) in the form of a debt pool from seven international banks to help finance the company’s 450MW hybrid solar and wind power projects in Rajasthan. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/bought-twitter-shares-in-india-heres-what-will-happen-after-elon-musks-acquisition-and-twitter-going-private/articleshow/91090688.cms">Bought Twitter shares in India? Here’s what will happen after Elon Musk’s acquisition and Twitter going private</a> <a href="https://www.businessinsider.in/finance/banks/news/here-are-the-new-credit-card-rules-effective-from-july-1-2022/articleshow/91071855.cms">From adjusting refunds against amount due to charges for disputes, here are the new credit card rules effective from July 1</a> <a href="https://www.businessinsider.in/business/telecom/news/5g-in-india-who-what-when-why-and-how-much/articleshow/91004188.cms">5G in India – who, what, when, why and how much?</a>

Adani Green is now more valuable than State Bank of India – here's why

<ul><li><keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword> owns 4% of the entire equity market and 2% of the bond market. So, every time the market or bond yields move, its fortunes change.</li><li>LIC is to be severely impacted by potential hike in interest rate this month.</li><li>This is because LIC’s AUM consists of about 75% of debt securities making it very sensitive to fluctuation in interest rates.</li></ul>LIC might be an elephant that cannot dance, but when it does, it moves just the way the stock market does. Unlike any other company which is valued for the industry that it belongs to and its own financials, LIC’s valuation is determined by a large number of macroeconomic factors and the benchmark indices are one of them. LIC owns 4% of the entire equity market and 2% of the bond market. So, every time the market or bond yields move, its fortunes change. “LIC is a very good investment but it is not being able to pull its way because of market sentiment. It is a perfect mimic of the market. Like if Nifty 50 goes up to 18,000 points, LIC’s share price will be ₹900,” Sanjiv Bhasin, director at IIFL Securities, told Business Insider India. <div type="image" title="LIC, sensex" height="900" width="1200" msid="92041000" hostid="261"></div> The mega mutual fund promoted by Government of India LIC manages more than half of the life insurance policies of the country. As and when their premiums come in, it diverts these massive funds into various forms of investments be it debt or equity — making it a mega investor. In its maiden report on the company, Emkay Research said that LIC is more like a mutual fund, promoted by the Government of India. “LIC has been running more like a mutual company where the promoter shareholder — Government of India had not infused capital and the corporation was running on policyholders’ funds and even the solvency capital was in the form of excess in policyholders’ funds,” the Emkay report named ‘The Elephant can’t dance’ said. LIC currently manages assets worth ₹40 lakh crore — that’s more than India’s entire mutual fund industry combined. It also owns a large stake in blue-chip companies like Reliance Industries, TCS, L&amp;T, SBI and even ITC. So every factor be it oil price movements, tech meltdown, interest rate regime and even tobacco prices have to be priced in while evaluating <keyword id="13176813" type="General" weightage="20" keywordseo="lic-stock" source="Orion">LIC stock</keyword> prices. LIC’s largest shareholding is in IDBI Bank — which is 49.24% stake. This year, the bank’s stock is down by 21% so far and its largest shareholder will have to bear its brunt as well. RBI’s interest rate hikes and its effect on LIC After announcing its ‘interest rate shocker’ just before LIC opened its IPO for bids, the Reserve Bank of India too might play another spoilsport for the Navratna company’s stock. The market is expecting yet another interest rate hike from RBI governor Shaktikanta Das. It is expected to be higher this time around — between 40-60 basis points — and that would leave a deeper wound in LIC’s books. Increasing or decreasing interest rates can materially affect the profitability of LIC again because of the assets it manages. As much as 75% of its overall assets under management consist of debt securities. “A rising interest rate environment could lead to higher levels of surrenders and withdrawals of existing policies as policyholders would seek to buy products with perceived higher returns, which would result in investments being sold at declining prices in order to make payments to the policyholders, in all leading to financial losses,” explains a report by Emkay Research. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/stock-market/news/dmart-owner-radhakrishna-damani-loses-5-bn-as-even-essentials-become-too-expensive-for-indians/articleshow/92031475.cms">DMart owner Radhakrishna Damani loses $5 bn as even essentials become too expensive for Indians</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a>

If you want to predict LIC stock prices, look how the stock market moves

Top 10 Indian companies by market value in 2024

Commonly known as market cap, market capitalization is a company’s total dollar market value known by its outstanding shares of stock. To calculate the market cap, the company’s outstanding shares are multiplied by the present market price of each share. Market cap of a company is a very useful figure for the investors to decide the size of a company as against the method of knowing it from the total sales or asset figures. Since the company's size is a very crucial determinant of the different characteristics of a firm including risk that are a matter of importance for the investors, using market cap to ascertain a company’s size is a highly dependable method in the share market domain. Here is a list of 10 companies arranged in the order of their market cap. Market Cap of <keyword id="135539" type="COMPANY" weightage="20" keywordseo="top-10-companies">top 10 companies</keyword> in India <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#bdd7ee;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Sl. No </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#bdd7ee;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#bdd7ee;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Market Cap </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#bdd7ee;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">About the company </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Reliance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">983,140.16 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">A multinational conglomerate company based in India, Reliance Industries Ltd is headquartered in Mumbai. The firm has a broad portfolio of businesses across diverse segments including textiles, petrochemicals, retail, natural resources, energy and telecommunications. In terms of market cap, this is the largest publicly traded company in India. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">770,252.01 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">A multinational information technology firm in India, Tata Consultancy Services has its base in Mumbai. Operating in over 149 locations across 46 countries, this is a subsidiary of Tata Group. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">697,488.08 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank Ltd is a banking and financial services firm in India operating from Mumbai, Maharashtra. In terms of assets, this is the largest private sector lender in India. The bank’s distribution network has more than 5,130 branches across 2,764 cities. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">440,777.38 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">This British Dutch manufacturing firm based in Mumbai has a wide range of products including cleaning agents, beverages, consumer goods, water purifiers, foods and others. The product portfolio of the company spans across 35 brands and 20 categories. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">396,594.60 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corporation is based in Mumbai. This is a major provider of finance for housing in India. The firm also provides products like general insurance, asset management, realty, deposits, and venture capital. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">330,964.01 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">This multinational financial and banking services is headquartered in Mumbai. Today, this is the second largest bank in India offering a wide range of financial products and services to retail and corporate customers. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">308,420.75 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">An Indian Private Sector Bank, Kotak Mahindra Bank is headquartered in Mumbai. This bank offers its financial services and banking products for retail as well as corporate customers in the areas of personal finance, insurance, investment banking. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">305,087.85 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India is a public sector bank offering a range of multinational financial and banking services in India. A government corporation statutory body, SBI is headquartered in Mumbai. SBI has one fourth share of the total deposits and loans in India. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">302,677.69 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Headquartered in Mumbai, ITC is an Indian multinational conglomerate company established in 1910. Having completed over 100 years of its founding, the firm became a public enterprise in 1954. The company specializes in a range of tobacco based products. </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;"><ol><li></li></ol></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">296,367.29 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;overflow:hidden;overflow-wrap:break-word;">Indian multinational firm Infosys Limited provides a range of services including IT services, outsourcing services, and business consulting. Headquartered in Bangalore, the firm provides software development, validation, and maintenance services to firms in manufacturing, insurance, finance and other domains. </td></tr></tbody></table>

Top 10 Indian Companies By Market Cap

Once known for its stronghold on the tobacco industry, <a href="http://www.businessinsider.in/searchresult.cms?query=ITC">ITC</a> has come a long way. Venturing into lifestyle largely and then into <a href="http://www.businessinsider.in/topic/fmcg">FMCG</a> products, this <a href="http://www.businessinsider.in/searchresult.cms?query=Kolkata">Kolkata</a> based company has efficiently removed the tag of being a tobacco brand. Now, the FMCG-Hospitality conglomerate plans to expand its portfolio to health and home care segments as well. 
 
Having acquired Savlon from Johnson &amp; Johnson about six months back, ITC will be introducing hand wash, hand sanitizer, shower gel and floor, glass and toilet cleaners under the brand. 
 
"By the end of next year, ITC plans to bring nearly 100 different packs across variants within these categories, each competing directly with Reckitt Benckiser brands," one of the officials said. 
 
Dettol, the uncrowned king in this segment has been enjoying the leverage for quite a long time. British consumer giant <a href="http://www.businessinsider.in/searchresult.cms?query=Reckitt+Benckiser">Reckitt Benckiser</a>, which manufactures the antiseptic also has other brands like Harpic, Lizol and Colin. However, Savlon had sales of Rs 65 crore during fiscal 2014, trailing Dettol. Now that Savlon has an insignificant presence in hand wash, ITC may play a bigger role in changing the game. 
 
India has a Rs 16,000-crore soaps market, where <a href="http://www.businessinsider.in/searchresult.cms?query=unilever">Unilever</a>’s Lifebuoy controls the highest market share with 17%. Dettol has a 7.7% market share and ITC’s Vivel has a 2.5% share. 
ITC aims to achieve Rs 1 lakh crore by 2030, which is almost a 10 folds jump from its present revenue of Rs 9,038 crore. 
 
Within the personal care business, the company has not been able to gain substantial traction as it did in deodorants, where it became the second-largest brand. The cash cow - packaged foods - is perhaps the only one that has been performing well, after being the second-largest snack maker, largest branded atta company as well as the third-largest biscuit maker in the country.

You Searched For "ITC tobacco business" and got 9 results

ITC Q3 net profit up 29 pc at Rs 4,047.87 crore

PTI

ITC chairman YC Deveshwar may announce a younger successor as he promotes executives

BI India Bureau

From Weed To Wellness: Cannabis is no longer a bad word thanks to startups like Trost that promise to bring solace to users

Malini Bhupta

Brewing gains: Alcohol as well as cigarette stocks on a high

Katya Naidu

Adani Green is now more valuable than State Bank of India – here's why

Rounak Jain

If you want to predict LIC stock prices, look how the stock market moves

Bhakti Makwana

Top 10 Indian companies by market value in 2024

BI India Bureau

Top 10 Indian Companies By Market Cap

BI India Bureau

How Savlon could soon be the new ‘Dettol’

BI India Bureau