ITC

ITC is a diversified Indian conglomerate known for its leadership in FMCG (branded foods and cigarettes), hotels, paper, and agri-business. The cigarette business remains highly profitable, while FMCG sales are rising with new product launches and distribution expansion. ITC’s sustained focus on sustainability, paperboard, and hotels adds diversity and stability to its earnings. Regulatory risks around tobacco, and intensifying competition in FMCG, remain critical factors to monitor.