ITC gains as its arm incorporates wholly owned subsidiary in Kingdom of Saudi Arabia
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ITC is currently trading at Rs. 458.05, up by 1.95 points or 0.43% from its previous closing of Rs. 456.10 on the BSE.
The scrip opened at Rs. 459.00 and has touched a high and low of Rs. 459.00 and Rs. 457.00 respectively. So far 57097 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 499.60 on 24-Jul-2023 and a 52 week low of Rs. 325.35 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 462.85 and Rs. 449.50 respectively. The current market cap of the company is Rs. 569012.51 crore.
The Institutions and Non-Institutions held 85.31% and 14.69% stake respectively in the company.
ITC’s wholly owned subsidiary--- ITC Infotech India (I3L) has incorporated a wholly owned subsidiary (WOS) in the Kingdom of Saudi Arabia under the name of ITC Infotech Arabia (ITC Arabia) on December 17, 2023. The registration certificate evidencing incorporation of the said subsidiary has been received by I3L on December 19, 2023. Consequently, ITC Arabia has become a step-down wholly owned subsidiary of the Company.
I3L has incorporated ITC Arabia in the Kingdom of Saudi Arabia to expand and deepen its client relationships in that country. I3L will be paying cash consideration to ITC Arabia towards subscription of its entire share capital of 16,00,000 shares of SAR 10 each at par.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
