Reliance Securities maintains its â€œAccumulateâ€ rating on ITC with a price target of Rs 375 apiece.
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Diversified business group ITC is understood to be gearing up to invest up to Rs 1,000 crore in the FMCG segment in the next four years which will include setting up new facilities and enhancing existing capacities.
Multi-business conglomerate ITC that makes food products under brands such as Sunfeast and Bingo today said raw material costs are likely to go up by around 3% in the next two- three months, but ruled out any major price hike for consumers.