In a filing to the BSE on 10th October 2016, ITC limited announced that it will be divesting 100 per cent of its equity stake in US-based King Maker Marketing Inc for an estimated consideration of $24 million.
The FMCG major and the US-based buyer, Premier Manufacturing Inc, have entered into an agreement to sell its shares in the subsidiary company on 8th October, 2016. The sale is expected to be completed by 30th November, 2016.
The corporate management committee has approved divestment of entire shareholding of the Company (204 shares of common stock with no par value) in King Maker Marketing Inc, United States, a wholly-owned subsidiary, along with the assignment of certain trademarks owned by the company, pursuant to the authority given by the Board of Directors of the company.
The major player in the FMCG segment has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches as well as other FMCG products.
Meanwhile ITC share price has risen by 0.86 per cent and is currently trading at Rs 241.00 apiece on NSE. The intraday high of the share is Rs 242.60 and the intraday low is Rs 240.05.
Important Fundamentals:
- Sector- FMCG
- Face Value (Rs.)- 1
- Average Daily Movement [ADM]- 5.12
- Average Volume [20 days]– 83,73,710
- 1 Month Return (%)- (-9.00)
- Consolidated FY 15-16 PE Ratio - 29.20
- Consolidated Trailing PE Ratio - 0
- Standalone FY 15-16 PE Ratio - 29.40
- Standalone Trailing PE Ratio - 29.41
- Book Value - 27.97
- Market Cap - Rs 289405.72 (Cr)
- % of Promoter holding pledged – 0
ITC Limited is one of the Top 500 shares recommended by the research and analysis team of Dynamic Levels. Get the historical share price performance of the company at ITC share price history.
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