The price of ITC shares dropped on Friday after the cigarette manufacturer’s Q1 earnings fell short of Street expectations. The price of an ITC share on the BSE slipped as much as 2.29% to ₹482.40 a share.

ITC Ltd reported a standalone net profit of ₹4,917 crore in the first quarter of FY25, up 0.3% from ₹4,903 crore in the same quarter last year.

In Q1FY25, the company’s operating revenue increased 7.2% to ₹18,219.74 crore from ₹16,995.49 crore the previous year. With cigarette volume growth of 2.7% YoY, its cigarettes sector revenue climbed 7% YoY to ₹7,918.10 crore.

Revenue from the hotel business climbed by 11% to ₹665.56 crore, while income from FMCG increased by 6.3% to ₹5,491.03 crore. While the paperboard, paper, and packaging segment continued to struggle and fell 6.8% YoY, the Agri business had a 22% YoY rise.

As of 10:25 am, ITC shares were trading 0.98% lower at ₹488.85 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Shares of ITC rose by over 4% to cross ₹500 for the first time on Wednesday, July 24, maintaining gains from the previous session’s 5.5 percent increase.

The stock was upgraded to a “buy” by brokerage firm Jefferies on July 23, following Finance Minister Nirmala Sitharaman’s announcement in her budget address on July 23 that there will be no changes to tobacco taxation. For ITC, Jefferies has set a target price of ₹585, implying a possible upside of 15.5%.

During intraday trading, the stock rose as much as 3.7 percent, hitting a record high of ₹510.60. ITC has increased by 10.5 percent in the previous year and by 4.4 percent in the last month alone. Notably, the stock has increased by more than 19% so far in July and by around 28% since it reached its 52-week low of ₹399.30 on March 12, 2024.

As of 10:18 am, ITC shares were trading 2.18 % higher at Rs 502.95.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Itc’s stock price increased by 4% today, June 5, 2024. The stock closed at Rs. 415.4 per share. The stock is presently trading at Rs.434.45 per share.

ITC opened at ₹426.95 on the last day, had a high of ₹427, a low of ₹403, and closed at ₹430.55. The market capitalization was ₹518615.33 crores. ₹499.6 was the 52-week high, while ₹399.3 was the 52-week low. There were 2583705 shares traded for ITC on the BSE.

Meanwhile, Godfrey Phillips India, VST Industries, and Golden Tobacco are all seeing rises, while NTC Industries is seeing a decline. The benchmark indices Nifty and Sensex have increased by 1.53% and 1.87%, respectively.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

ITC Ltd., the Indian conglomerate, announced its standalone financial results for the fourth quarter of the fiscal year 2024. The company reported a net profit of Rs 5,020.2 crore, a slight decrease of 1.31% compared to the same period in the previous year. Despite the marginal decline, ITC’s board has recommended a final dividend of Rs 7.5 per ordinary share for FY24, demonstrating its commitment to shareholder value.

The decrease in net profit can be attributed to stagnant sales volumes in the cigarette division and lower profit margins in the fast-moving consumer goods (FMCG) sector. However, ITC’s revenue for the quarter stood at Rs 17,752.87 crore, representing a 1.40% increase.

Resilience and Diversity Amidst Challenges

Despite the challenges faced in Q4 FY24, ITC’s financial performance highlights the resilience and diversity of its business portfolio. The company’s decision to declare a final dividend amid these circumstances showcases its confidence in its long-term growth prospects and dedication to creating value for shareholders.

“ITC’s Q4 results demonstrate the company’s ability to navigate through headwinds and maintain a strong financial position,” said Mr. Sanjiv Puri, Chairman of ITC. “The final dividend declaration underscores our confidence in the company’s long-term growth prospects and our dedication to creating value for our shareholders.”

Dividend Details and Market Response

The proposed final dividend of Rs 7.5 per ordinary share will be subject to approval at the upcoming annual general meeting scheduled for July 26, 2024. If approved, the dividend will be paid between July 29, 2024, and July 31, 2024.

Following the release of ITC’s quarterly earnings, the company’s shares experienced minimal movement on Thursday, closing at Rs 445, a marginal increase of 0.23%. ITC’s market capitalization currently stands at over Rs 5.52 lakh crore.

Analysts’ Perspective

Market analysts have praised ITC’s decision to declare a final dividend despite the slight dip in net profit. “The dividend declaration sends a positive signal to investors, reinforcing ITC’s commitment to shareholder returns even in challenging times,” said Anil Sharma, a senior analyst at ABC Securities.

Experts also highlight the importance of ITC’s diversified business portfolio in navigating market headwinds. “ITC’s ability to maintain a stable financial position amidst challenges in the cigarette and FMCG sectors underscores the strength of its diverse offerings,” noted Priya Patel, an analyst at XYZ Research.

ITC Ltd.’s Q4 FY24 results, characterized by a marginal decline in net profit and a final dividend declaration, showcase the company’s resilience and commitment to shareholder value. As ITC continues to navigate the evolving market landscape, its strong financial position and diversified business portfolio are expected to drive long-term growth and sustain investor confidence.

As the fiscal year 2022-23 draws to a close, several prominent Indian companies are gearing up to announce their fourth-quarter (Q4) financial results. These earnings reports will provide crucial insights into the performance of various sectors and the overall health of the Indian economy. Investors and analysts will be closely monitoring the results of key players such as ONGC, ITC, NTPC, Sun Pharma, and Nykaa, among others.

ONGC (Oil and Natural Gas Corporation) to Report Q4 Results Amid Fluctuating Oil Prices

ONGC, India’s largest oil and gas exploration company, is set to declare its Q4 results this week. The company’s performance will be scrutinized for its revenue, profitability, and production figures, especially in light of the volatile global oil prices. As a key player in the energy sector, ONGC’s results will provide a glimpse into the challenges and opportunities faced by the industry.

ITC Limited to Announce Q4 Earnings Across Diverse Business Segments

ITC, a diversified conglomerate with interests in FMCG, hotels, paperboards, and agribusiness, is scheduled to announce its Q4 results. Investors will be keen to assess the performance of ITC’s various business segments and any updates on its growth strategies. The company’s ability to navigate the challenges posed by the pandemic and maintain its market position will be in focus.

NTPC (National Thermal Power Corporation) to Declare Q4 Results, Renewable Energy in Focus

NTPC, India’s largest power generation company, will declare its Q4 results this week. Analysts will be interested in the company’s power generation capacity, fuel costs, and any new developments in the renewable energy space. As the country moves towards a cleaner energy mix, NTPC’s progress in renewable energy projects will be closely watched.

Sun Pharmaceutical Industries to Report Q4 Earnings, Key Markets and Product Launches in Focus

Sun Pharma, one of the largest pharmaceutical companies in India, is set to announce its Q4 results. The company’s performance in key markets, new product launches, and any regulatory updates will be the main areas of interest for analysts. As the pharmaceutical industry continues to play a crucial role in the fight against the pandemic, Sun Pharma’s results will provide insights into the sector’s growth and challenges.

Nykaa (FSN E-Commerce Ventures) to Announce Q4 Results, E-commerce Growth and Expansion Plans in Spotlight

Nykaa, a leading beauty and fashion e-commerce platform, will declare its Q4 results this week. Investors will be focused on the company’s revenue growth, customer acquisition, and expansion plans for its offline retail network. As the e-commerce sector continues to boom in India, Nykaa’s performance will be a key indicator of the industry’s potential and future prospects.

Other Notable Companies to Declare Q4 Results This Week

Apart from the above-mentioned companies, several other key players across various sectors are also scheduled to announce their Q4 results this week. These include:

• Adani Ports
• Bajaj Auto
• Bharti Airtel
• Cipla
• Dabur
• Grasim Industries
• Hindalco
• Hindustan Unilever
• Kotak Mahindra Bank
• Maruti Suzuki
• Tata Steel
• UltraTech Cement

As these companies report their Q4 earnings, investors and analysts will gain valuable insights into the performance of different sectors and the overall economic sentiment in the country. The results will help in making informed decisions and assessing the future prospects of these companies in the face of ongoing challenges and opportunities.