ITC Ltd.

Cigarette-to-hotels major - ITC has acquired 26% stake in a 275-room, five-star luxury hotel property being developed by Noida-based Logix Group in Noida's Sector 105. The company plans to invest close to Rs 100 crore in the project and will also manage it under the top-end ITC hotels brand.  The total project cost of the hotel, which is part of a larger seven-acre commercial and retail development called Riviera 105, is Rs 440 crore. The construction of the hotel is expected to finish in 36 months.

Logix is making an 800,000 sq ft of commercial office space, 500,000 sq ft of retail space and a budget hotel as well in Sector 105, which is just ahead of Unitech's Grande project on the Noida-Greater Noida expressway. It has already inked pact with global food retail chain Spar International for a hypermarket and is also planning an 11-screen multiplex.

Recently, ITC's personal care products division was aiming a foray into the domestic deodorant (deos) market with possible extension of Fiama Di Wills brand in the category. The deos market is valued at about Rs 900 crore and has more than 60 players. At present company has the Essenza range of fragrances in the premium category, but has no presence in the deo range priced between Rs 100 and Rs 150 that is a popular segment in the country.