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ITC soars on planning to expand dairy beverages portfolio in India

Mumbai : ITC is currently trading at Rs. 307.05, up by 3.45 points or 1.14% from its previous closing of Rs. 303.60 on the BSE. The scrip opened at Rs. 304.00 and has touched a high and low of Rs. 307.50 and Rs. 300.95 respectively. So far 416974 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 322.70 on 03-Sep-2018 and a 52 week low of Rs. 258.90 on 28-Jun-2018.

Last one week high and low of the scrip stood at Rs. 307.50 and Rs. 299.00 respectively. The current market cap of the company is Rs. 375727.06 crore.

The Institutions and Non-Institutions held 55.24% and 44.76%, stake in the company, respectively.

ITC is planning to expand its dairy beverages portfolio to the rest of the country by the next summer and is eyeing a 5-10% market share in the first year of operations.

The company entered the ready-to-drink milk-based beverages market with the launch of Sunfeast Wonderz Milk last December. The milkshake market is around Rs 1,000 crore.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

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