“We are yet to see the best in the economy and once the economy picks up, consumption is bound to pick up and that is when will positively impact the growth of the FMCG sector for sure.”…READ MORE
KEEP READINGEvery time the government raises taxes on cigarettes, smokers are asked to cough up more for their sin. Some do it grudgingly; some struggle to kick the habit; while a substantial section switches to cheaper variants. But the kerbside retailer doesn’t ever complain. For him, consumption does not contract much nor do companies such as ITC Ltd drop retail margins to lighten the burden of the tax hike on consumers. The reason, says Sanjiv Puri, ITC’s chief operating officer, is that reducing trade margins will only lead to more proliferation in the sales of contraband, or tax-evaded cigarettes…READ MORE
KEEP READINGITC Ltd named Sanjiv Puri to the newly created post of chief operating officer, signalling that he’s most likely to take over from YC Deveshwar as CEO when he steps down in February after two decades at the helm…READ MORE
KEEP READINGAccording to the company’s annual report, executive directors generally don’t exceed one-third of the total strength. ITC has a 15-member board…READ MORE
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