City Sanjiv Financial News

Sanjiv Bhasin, Director, IIFL Securities, says “Mr Vaidyanathan, according to me, is the best banker in India. I see no letup in this stock. Yes, it is an expensive stock. It has run up far in excess but who is to blame? There was so much under-ownership and IDFC First is headed higher. Bhasin also says that “Page Industries is a must-have. It is one of the best consumer stocks. Wait for declines to add some. Also, Indian Hotel or a Devyani or a United Spirits cannot be rebuilt.”IDFC First Bank has managed to outperform its other banking peers but do you think most of the rally is over and it is time to switch into other names?For the last two years, I was advocating this stock at Rs 30-35. And there would always be the argument on why should it perform? It was a lending institution and so on. And I only pursued that stock on the basis of Mr Vaidyanathan. Today, there is a sell report or whatever, but Morgan Stanley has been bearish from Rs 30. How will he justify Rs 100? The business is humongous.

Sanjiv Bhasin, Director, IIFL Securities, says, “I am chasing the likes of LTIM, Reliance, Apollo Hospital and the largest banks, ICICI, Axis. Those are five of my big ideas. If you have Suzlon, stay with it, but do not chase it at these prices where the stock has already tripled.” Bhasin also says, “this is the time to be in IEX and IRCTC, which are two brilliant blue chip businesses. Now, the businesses can underperform for some time, but the longer-term story on IEX in power and IRCTC on railways is the best you can play on the Indian PSUs.I am curious about your take on some of these new-age tech companies. For instance, Zomato has been in the news of late. How are you looking at the efforts on the path to profitability for a lot of these companies? What would be your picks?Zomato, Paytm and PB Fintech are three stocks which are in our portfolio.

Sanjiv Puri, CMD, ITC, talks to ET Now from the sidelines of B20 Summit. Puri says, “if you treat everybody with respect and with fairness and look after the well-being of everything including the planet, a more sustainable and inclusive world would evolve.”On future of the worldAbsolutely.

ITC is seeing green shoots of volume growth and expects the momentum to continue sequentially, its Chairman and Managing Director Sanjiv Puri said on Sunday. This will certainly lead to improvement in volume, but it will not happen overnight, said Puri here on the sidelines of the B20 Summit organised by the CII. Over the ITC's plan for the demerger of its hotel business, Puri said it is going to benefit the existing shareholders by incorporating a wholly-owned new subsidiary ITC Hotels Ltd. «It will be a pure-play, focused on hospitality, which can leverage the institutional strengths of ITC. And ITC in turn will be able to leverage the synergy on its hospitality business, or its FMCG businesses,» Puri told PTI. It is a «very robust» model, which will help the business to make the hotel business accelerate progress, whilst retaining synergies and it will improve the financial metrics of ITC, he added.

climate change events that have plagued the world are ‘here to stay’. Puri further added that companies in India should fine-tune their strategies in accordance to the climate change that has affected existence. Puri said extreme weather events are impacting the earth as well as human life and requires a lot of attention.

ITC Chairman Sanjiv Puri said on Sunday. Addressing the B20 Summit organised by the CII here, Puri said extreme weather events are impacting the earth as well as human life and requires a lot of attention. Extreme weather events have a deep impact on nature and therefore also on the Global South.

Supreme Court on Friday underlined the need to take «counter measures» by the state authorities to ensure there are no instances of hate speeches. A bench headed by Justice Sanjiv Khanna directed all the state governments to furnish a list of nodal officers appointed by them to register cases of hate speech and pursue investigations in this regard. Speaking for the bench, Justice Khanna underscored the significance of installing CCTV cameras by the state authorities as they can act as a «big deterrent». The bench also insisted on ascertaining the «source» of the video/clip of a purported hate speech. The bench said that it is imperative that «peace, harmony and brotherhood» is maintained and counter measures are taken to avoid instances of hate speech.

Supreme Court Friday said it will strengthen its 2018 guidelines for dealing with mob violence, hate speeches and lynching to ensure that culprits are dealt with equally, irrespective of their communities for their public utterances spreading bigotry. In a significant verdict on a plea by activist Tehseen Poonawalla, the top court had on July 7, 2018 issued a slew of guidelines to curb hate crimes, and directed states and union territories to take preventive and remedial measures like appointment of nodal officers in each district to keep a tab on such activities. The top court on Friday asked the Centre to collate details from states and UTs on compliance of its 2018 verdict in three weeks.

Sanjiv Mehta, who hung up his boots in June this year, is enjoying his retirement. The former HUL boss recently attended an orchestra, conducted by globally-acclaimed Parsi conductor Zubin Mehta. Taking to the professional networking platform LinkedIn, the sexagenarian said that he was fortunate enough to witness the Mumbai-born conductor's epic skills on stage.

Supreme Court on Friday refused to issue interim stay on publication of data of the caste-based survey carried out in Bihar and questioned the petitioners' argument that it is against the right to privacy. A top court bench made it clear that it will not issue any interim stay on the publication of the survey unless a prima facie case is made out. The court was informed the survey was completed by the Bihar government on August 6.

Supreme Court asserted on Friday action must be taken against all those making hate speeches «this side or that side». A bench of Justices Sanjiv Khanna and SVN Bhatti made the remark during a brief hearing on a batch of petitions seeking directions to curb hate speeches across states, including a plea for action against Hindu outfits calling for social and economic boycott of Muslims following the recent communal violence in Nuh-Gurugram in the Delhi-NCR region. A lawyer claimed before the bench that the Indian Union Muslim League (IUML), a political party in Kerala, organised a rally in the state in July where slogans like «death to Hindus» were raised.

ITC chief Sanjiv Puri said listing of the proposed demerged hotel entity, ITC Hotels, will take 12-15 months to complete the regulatory process, while the shareholding structure of the company will provide stability to the hotels business and allow ITC to leverage the institutional strengths to build its fast-moving consumer goods (FMCG) business. Addressing shareholders in the company’s 112th annual general meeting held virtually on Friday, chairman amd MD Puri said the listing of ITC Hotels would take 15 months or more or less, since there are multiple steps in the regulatory process.

ITC chief Sanjiv Puri said listing of the proposed demerged hotel entity, ITC Hotels, will take 12-15 months to complete the regulatory process, while the shareholding structure of the company will provide stability to the hotels business and allow ITC to leverage the institutional strengths to build its fast-moving consumer goods (FMCG) business. Addressing shareholders in the company's 112th annual general meeting held virtually on Friday, chairman amd MD Puri said the listing of ITC Hotels would take 15 months or more or less, since there are multiple steps in the regulatory process.

Chetan Singh shot three Muslim passengers after shooting his Hindu senior, in what has been stated as hate crime. The Supreme Court was hearing a plea over alleged “blatant hate speeches" calling for killing members of a particular community and their social and economic boycott at rallies in different states, including Haryana. A bench of Justices Sanjiv Khanna and SVN Bhatti asked Additional Solicitor General K M Nataraj, appearing for the Centre, to seek instructions and inform it about the proposed committee by 18 August.

ITC Limited on Friday said the FMCG business has immense potential for growth with its brands commanding an annual consumer spend of Rs 29,000 crore. Speaking at the 112th AGM of the company, ITC chairman Sanjiv Puri told shareholders in his address that the FMCG brands are being exported to several countries and the business vertical has immense growth potential due to the rising per capita income of the people. «The ITC Next strategy for the FMCG business is to build a future-ready portfolio.

ITC's hotel business will sharpen capital allocation, improve asset efficiency ratios, unlock value for its shareholders as well as enable leveraging of institutional synergies, company chairman and MD Sanjiv Puri today said. «The continued interest of ITC in the new entity will provide long-term stability and instill a sense of assurance among partners, investors, and employees while enabling the new entity to leverage ITC’s institutional strengths including the timeless goodwill, world-class brands and governance processes,» Puri told shareholders at the company's annual general meeting (AGM).

ITC Ltd chairman Sanjiv Puri said the company’s continued shareholding in the proposed demerged hotel business entity is to provide stability to the business, assure stakeholders and to allow ITC to leverage the institutional strengths to build its other businesses. Addressing shareholders in the company’s 112th annual general meeting virtually on Friday, Puri said the continued interest of ITC in the new entity (demerged hotel business) will provide “long term stability and instill a sense of assurance among partners, investors and employees, while enabling the new entity to leverage ITC’s institutional strengths including the timeless goodwill, world-class brands and governance processes.” Puri said for ITC, “the reorganisation will sharpen capital allocation, improve asset efficiency ratios, unlock value for its shareholders as well as enable leveraging of institutional synergies.

₹5,225.02 crore for the quarter ended March 2023 (Q4FY23). Revenue from operations (excluding excise duty) for the company went up 5.6% YoY to ₹16,398 crore.The cigarette business grew 14% YoY to clock revenue of ₹7,355.83 crore in the March quarter.

Supreme Court verbally observed on Thursday that the moot question over the abrogation of Article 370 which needed to be decided was whether the process followed was flawed or not. It will be difficult to say that Article 370, which gave special status to Jammu & Kashmir, cannot be amended, a five-member constitution bench headed by Chief Justice of India DY Chandrachud observed.

Sanjiv Somani had been on the top job at Nutmeg for under a year.

Supreme Court has refused to order status quo on the caste survey in Bihar. Appeals challenging the Patna high court order, which upheld the exercise, will be taken up on August 14. A bench headed by Justice Sanjiv Khanna turned down a request made by petitioners' counsel that sought ordering of status quo on the survey until the next date of hearing.