ITC Stake Update: FMCG Giant Acquires Entire Stake In This Company At Rs 42 Crore - Details

ITC Stake Update: FMCG giant ITC has acquired the entire stake in Greenacre Holdings Limited (GHL), the company said in an update. GHL is engaged in property infrastructure maintenance, and providing engineering, procurement, construction management and project management consultancy services. The shares of the company were acquired at an aggregate consideration of Rs 42.10 crore (being the book value of the shares in the books of RCL) - ITC said in an update.

ITC Stake Update: ITC On Stake Buying Spree - Details

In October, the board of directors of ITC accorded approval to acquire 1,52,32, 129 Equity Shares of EIH Limited and 34,60,829 Equity Shares of HLV Limited from Russell Credit Limited. In the quarterly results announced last month for the quarter ending September 2024, ITC reported a gross revenue of Rs 20359.95 crore. The net profit for the period jumped to Rs 5078.34 crore, up from Rs 4926.96 crore for the corresponding period last year. 

ITC Share Price Today:

The shares of ITC rose on Friday. At the time of this update, ITC shares were trading at Rs 477.60 apiece. After opening at Rs 473.95, the stock inched higher to touch Rs 478.90. Last month, the Kolkata bench of the National Company Law Tribunal (NCLT) approved the scheme of demerger of the company's hotel business. With a market cap of Rs 5,96,828.28 crore, the cigarette-to-hotels conglomerate is one of the largest FMCG companies in the country.