ITC is currently trading at Rs. 204.80, up by 0.70 points or 0.34% from its previous closing of Rs. 204.10 on the BSE.
The scrip opened at Rs. 204.85 and has touched a high and low of Rs. 205.60 and Rs. 203.00 respectively. So far 130080 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 211.35 on 29-Jul-2011 and a 52 week low of Rs. 150.00 on 24-Feb-2011.
Last one week high and low of the scrip stood at Rs. 205.60 and Rs. 195.60 respectively. The current market cap of the company is Rs. 155026.68 crore.
The Institutional holding in the company stood at 50.47% while Non-Institutions held 50.47%.
ITC, tobacco-to-foods giant is likely to foray in the chewing gum market and take on multinational players like market leader Perfetti Van Melle and Wrigley’s. ITC operates only in the sugar confectionery arena, which limits its size of business while Perfetti has varied products in the Rs 4,000 crore confectionary businesses that include sugar confectionery (mints, candies, éclairs, etc) and gum.
The company is said to be developing the gum base indigenously to cut costs instead of importing the gum base. The company will get to expand its portfolio in the confectionery business with this entry. The chewing gum market constitutes 27% of the total confectionary market. The Indian chewing gum market is dominated by Perfetti, which has the flagship brand Centre Fresh, bubble gum brand Big Babol and Centre Shock.
ITC, on the other hand, has Candyman and Minto (for its mints), which it bought from Candico as its key brand in this arena. ITC already has a very strong sales and distribution team in place. They can even reach roadside paan and cigarette vendors. This is a very important factor in a category like this, which mostly depends on penetration.
| Company Name | CMP |
|---|---|
| ITC | 464.60 |
| Godfrey Phillips | 5355.30 |
| VST Industries | 334.70 |
| The Indian Wood Pro. | 58.03 |
| Golden Tobacco | 39.83 |
| View more.. | |
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