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ITC increases stake in EIH by 1%: Report

11 Sep 2012 Evaluate

ITC, India’s biggest cigarette maker has reportedly increased its stake in EIH, Oberoi Group Company by 1%. The company has bought 5.73 million shares at Rs 73 a share through its subsidiary, Russel Credit, at a total cost of Rs 41.89 crore.

Following the acquisition, ITC’s stake in EIH has increased to 15.89%. ITC has acquired EIH shares at a price which is a month’s low.

Recently, the company announced that it is aiming to venture into dairy products, drinks and perhaps even healthy breakfast foods to expand its money-losing consumer products business. Normally, it sells 80% of the cigarettes in the world's second most populous country where 275 million people use tobacco products but as India follows the rest of the world in adopting anti-smoking regulations, the company's core tobacco business is getting compressed.

ITC Share Price

306.80 3.35 (1.10%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ITC 306.80
Godfrey Phillips 2207.10
VST Industries 265.10
The Indian Wood Pro. 34.45
NTC Industries 172.00
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