In your interest.
Online Personal Finance Magazine
No beating about the bush.
ITC has blown up Rs1,000 crore in FMCG business
Over the past decade, ITC has been trying to de-emphasise its image of a tobacco company and present itself as a diversified conglomerate. Towards this end, it has merged the hotels business (ITC Hotels) and the paper business (ITC Bhadrachalam). It may have made sense to fund these capital-intensive businesses with the profits of cigarettes...