According to the brokerage firm, FY17 is likely to be one the lowest VAT hikes seen by ITC in the past five years. "The excise hike of 10 percent this year is also manageable in our view and the lowest in five years," it adds.
FMCG major ITC today said sales of its instant noodles brand Yippee are recovering and its market share has risen to anywhere between 30 and 40 per cent.
While Maggi regained the No 1 slot in instant noodles in January, ITC Foods' Sunfeast Yippee has covered much ground and came a close second with a 33 percent share.
Recent ads by ITC's Sunfeat YIPPee! Noodles, depicting the instant-noodles snack as 'safe' and having cleared regulatory permissions seem to have unnerved Nestle a bit, whose Maggi noodles recently ran into a problem with the foods regulator.
‘Yippee‘ noodles of Sunfeast by ITC and ‘Bambino Macaroni‘ by Bambino Agro Industries were banned on Thursday, FDCA commissioner H G Koshia said.
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.