The ITC did not make any plans to list businesses or analyst firms during the analysts’ meeting.
Kolkata:
Multi-enterprise conglomerate ITC Limited did not offer any specific plans for classifying and listing businesses to unlock value at its meeting with analysts on Tuesday, but did not rule out that Those are the options for the company, according to analysts present on the occasion.
The market was expecting some concrete announcement from the company’s management in this direction at the meeting.
When analysts asked about splitting the FMCG business and unlocking ITC Infotech by listing, management said the business is undergoing periodic reviews and does not rule out any options. any.
The company’s top management who attended the institutional investors meeting and ITC analysts said the choice of analysis for the hotel business is also not out of the horizon as it awaits the business. revival and the group continues to monitor each of its businesses.
Analysts say ITC authorities have shown that the FMCG business is incubated to take advantage of the company’s existing institutional strength. The hotel and the paper business were initially separate but were later merged to achieve the aforementioned goal.
Sources say ITC is planning to invest Rs 10,000 crore over the next three years and is open to more acquisitions. A large portion of the investment is expected to go into verticals such as FMCG and paperboard among others.
The company will continue to focus on digital and is working on various initiatives to make its operations more efficient and agile.
A company spokesman would not comment on the developments of the analysts’ meeting.
ITC shares on Tuesday fell 2.38% to close at Rs 228.3 at the Bombay stock exchange.
