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What is holding up the long-awaited ITC rally?

What is holding up the long-awaited ITC rally?
What is holding up the long-awaited ITC rally?
The finance veterans envisage ITC as a large FMCG conglomerate that includes cigarettes and the newer FMCG businesses.

Synopsis

According to Tandon, the evolving concept of ESG-themed investing is being reflected in the stock market reception of ITC. Citing the views of financial experts Aswath Damodaran and Raghuram Rajan, he held that ESG will work until it is not at odds with shareholder returns.

ET Intelligence Group: ITC, the country’s least expensive FMCG company by relative valuations, is allocating disproportionate funds and manpower to non-cigarette revenue categories to speed up its transformation into an all-weather consumer powerhouse from India’s biggest cigarette maker.“About 80-85% of our capex is going toward the non-cigarette businesses,” ITC’s newly appointed CFO Supratim Dutta told ET. “About 90% of our employees are
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