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(Stock Market FMCG Sector)
Submitted By: Amit kumar (Roll No. C-164) & Mohit M. Bhendarkar (Roll No. C- 225)
Under the Guidance of : Prof. Mrs. Rajlaxmi
Institute of Business Management & Research
8/182, Sunrise Park, Near ASIA School, Driven In Road, Ahmedabad - 380054. Ph. : 079-26858717 / 40052917 Email : Ahmedabad@ibmrindia.org website : www.ibmrindia.org
2. Acknowledgement 3. Executive Summary 4. Chapter 1 Introduction
Overview of Technical Analysis Benefits & Drawbacks History of Technical Analysis FMCG Sector Types of Charts
Dabur India P&G Nestle
ITC Chapter 3 Dabur India (B/s & Profit Growth Chart) P&G (B/s & Profit Growth Chart) Nestle (B/s & Profit Growth Chart) ITC (B/s & Profit Growth Chart) Chapter 4
4 5 6 6 8 10 11 19 20 25 25 34 45 54 71 71 76 81 86 92 92 93
Conclusion 8. Bibliography
The Project offered by the IBMR College, is an enlightening course for those who are wishing to master their Business administration skills, with their knowledge. This is an unique course which is the collaboration of PGPM. It not only develops your management talent but also develop your technical skill. It imparts the necessary theoretical knowledge about the field but also provides an opportunity to practically experience the application of the business administration fundamentals in the corporate as well as the non-corporate sector. I was unaware about the role of exchanges and depositories in the secondary market. Here I really got practical knowledge about the role of SEBI, NSE, and BSE etc. in the secondary market. Now I am aware about the buying and selling system in the secondary market through broking firm or sub-broker. I am very much thankful to Prof. Mrs. Rajlaxmi. I therefore have pleasure to present my project study report, which, I hope as per the curriculum requirements.
Date: 10th Dec 2009 Place: Ahmedabad
Amitkumar (C-164) Mohit M. Bhendarkar (C-225)
Study of business management is all about gaining knowledge from the practical life examples. In partial fulfillment of my second year, I have prepared project on the topic “Technical analysis on FMCG Sector”. I am thankful to my project guide Prof. Mrs. Rajlaxmi who provided me guidance and deep insights through out the preparation of my project. I also express my sincere thanks to our guide Mr. Sachin Bhavsar (Advisory Head of Angel Broking Ltd, Ahmedabad) and all professors of IBMR for helping me in project preparation. Finally, not to miss anyone, I thank all the people who have directly or indirectly helped me a lot throughout my project preparation.
The main plot for my project is to study Technical Analysis, how it works and to find out different kind of indicators and to test the superiority of trading strategies based on Technical Analysis. Chapter 1 contains some basic information/introduction on Technical Analysis. i.e. what exactly Technical Analysis is and how does it differ from Fundamental Analysis. Chapter 2 contains information about the FMCG sector on which we done our technical analysis we given the full information about the companies that is there Board of Dirctor there vision & Mision. Our Companies are Nestle, Dabur India, P&G and ITC Chapter 3 is built around the charts, the heart of the Technical Analysis. The initial part is packed with chart properties and information regarding different types of charts. Finally, description of different chart pattern which are used for analysis. Chapter 4 epitomize the chart pattern analysis of all the 4 companies we have inferred by studying the charts and try to identifying the future trend and give the conclusion for the same. Technical Analysis is not made up of only Indicators and oscillators; it has candlestick which is one type of a chart but at the same time mostly use for interpretation and very helpful in finding out the pattern.
The methods used to analyze securities and make investment decisions fall into two very broad categories 1. Fundamental analysis 2. Technical analysis. Fundamental analysis involves analyzing the characteristics of a company in order to estimate its value. Technical analysis takes a completely different approach; it doesn't care one bit about the "value" of a company or a commodity. Technicians (sometimes called chartists) are only interested in the price movements in the market. Despite all the fancy and exotic tools it employs, technical analysis really just studies supply and demand in a market in an attempt to determine what direction, or trend, will continue in the future. In other words, technical analysis attempts to understand the emotions in the market by studying the market itself, as opposed to its components. If you understand the benefits and limitations of technical analysis, it can give you a new set of tools or skills that will enable you to be a better trader or investor.
What is Technical Analysis?
Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future. Instead, technical analysis can help investors anticipate what is "likely" to happen to prices over time. Technical analysis uses a wide variety of charts that show price over time. Technical analysis is all about studying stock price graphs and a few momentum
oscillators derived thereof. It must be understood that technical studies are based entirely on prices and do not include balance sheets, P&L accounts (fundamental analysis), the assumption being that the markets are efficient and all possible price sensitive information is built into the price graph of a security / index. Therefore, technical analysis supports the efficient market theory as against the "random walk theory" which supports the belief that stocks can be bought / sold on random events like flipping a coin!!! Technical analysis is more dynamic as compared to fundamental analysis based on one simple argument - fundamental analysts depend on corporate events like quarterly results and special announcements like earnings guidance and policy changes in operations to generate a buy / sell recommendation. If fundamental analysis was the single most reliable indicator of trends, prices would predominantly fluctuate only 4 - 5 times a year - around quarterly results and special announcements like mergers and acquisitions etc!! Why would prices fluctuate almost daily? If the prices fluctuate ever so often, is there a way to forecast them? Yes according to technical analysis!!
Overview of Technical Analysis
Technical analysis involves the study of past market data related to price and volume with the purpose of forecasting future price movements. Technical analysis does not help in making absolute predictions. Rather it helps in projecting the “likely" price movement over time. Technical analysis is applicable to commodities, stocks, futures, foreign exchange (forex), indices or any tradable instrument, the price of which is influenced by supply and demand trends. It is used by day traders and short-term investors participating in investment markets, such as the stock market and the foreign exchange (forex) market. This type of analysis is also very useful for hedgers. While fundamental analysis helps you decide what companies you may want to invest in - based on the company's management, products and services, financial records, and other information - it won't always help you figure out when to buy, sell or hold. There will be times when the stock of a solid company falters and times when a riskier company performs well. As a result, although fundamental analysis is important, it's not always sufficient to make investment decisions. Technical analysis, the study of price movements and trends, can help you figure out when to enter and exit the market.
Technical analysis, which gained momentum in the late 1800s as Dow Theory, is one of the oldest techniques used to make market decisions. Based on the ideas of Charles Dow, technical analysts use a variety of technical indicators, or series of data points plotted on a price chart that has been formed using price or price and volume statistics for a particular security over a particular time period. The goal is to spot market trends and manage risks associated with price movements.
While some indicators use complex formulas and others are simpler, all of them seek to establish visual patterns that make sometimes confusing price data easier to 8
understand and interpret. Indicators can be applied to stock, indexes, futures contracts and any other tradable instruments whose prices move in response to supply and demand. While each indicator depicts patterns made by the price movements of securities, studying just one may not give you a complete picture of the direction the price is likely to head.
For example, an indicator may make false signals, called whipsaws, where prices move in one direction and quickly revert to an original trajectory. Examining more than one study makes it easier to spot true signals
How is Technical Analysis Done?
Technical analysis is based on the premise that price discounts every aspect and information in the market. Technical analysis is also based on the belief that price movements are never completely arbitrary and follow a trend. A technical analyst believes that it is possible to identify an ongoing trend, trade based on the trend and generate profits as the trend unfolds.
The methods used for technical analysis are:
1. Moving averages: This method is used to identify various support and resistance levels for the short and long term. The most commonly used moving averages are the 30-day moving average (DMAs) and 200-day moving average (DMAs). 2. Charts and patterns: Extensive charts are made based on historical data on price movements. These charts are used to identify patterns and shapes, such as double top, double bottom, head and shoulders and triple bottom.
Benefits of Technical Analysis
The benefits of technical analysis are: 1. Helps to identify a trend, allowing investors to make predictions on future trends. 2. Allows investors to judge the direction of the current trend and enables them to gauge the best time to take a position in the market. 3. When it is used in conjunction with fundamental analysis and company and industry related news, it minimizes the chances of an investor incurring losses.
Drawbacks of Technical Analysis
The drawbacks of technical analysis are: 1. It draws heavily on a person’s opinion or interpretation. 2. It is more a study of probabilities than of actual value. 3. Useful only for short-term investments.
History of Technical Analysis
The history of technical analysis begins with Dow Theory. The Dow theory was developed by Charles Dow through a series of editorials which he wrote in Wall Street Journal of which he was an editor and part owner until 1902. Though Dow Theory is the brain child of Charles Dow, he never wrote a book on it. It was S.A. Nelson and William Hamilton who refined the theory into what it is today known as Dow Theory. Further, William Hamilton further refined the theory by a series of articles in Wall Street Journal between 1902 and 1929. He later wrote a book The Stock Market Barometer. Later Robert Rhea read 252 articles written by Dow and Hamilton in Wall Street Journal and further refined the theory in his book The Dow Theory.
There are various assumptions of Dow Theory. These assumptions form the platform of analyzing the stocks. The assumptions of Dow Theory are as follows: Manipulation The first assumption is: The manipulation of the primary trend is not possible. When large amounts of money are at stake, the temptation to manipulate is bound to be present. Hamilton did not argue against the possibility that speculators, specialists or anyone else involved in the markets could manipulate the prices. He qualified his assumption by asserting that it was not possible to manipulate the primary trend. Intraday, day-to-day and possibly even secondary movements could be prone to manipulation. These short movements, from a few hours to a few weeks, could be subject to manipulation by large institutions, speculators, breaking news or rumors. Today, Hamilton would likely add message boards and day-traders to this list.
Hamilton went on to say that individual shares could be manipulated. Examples of manipulation usually end the same way: the security runs up and then falls back and continues the primary trend. Hamilton also pointed out that even if individual shares were
being manipulated, it would be virtually impossible to manipulate the market as a whole. The market was simply too big for this to occur.
Averages Discount Everything The market reflects all available information. Everything there is to know is already reflected in the markets through the price. Prices represent the sum total of all the hopes, fears and expectations of all participants. Interest rate movements, earnings expectations, revenue projections, presidential elections, product initiatives and all else are already priced into the market. The unexpected will occur, but usually this will affect the short-term trend. The primary trend will remain unaffected. The downtrend for CocaCola began with the sharp fall from above 90. The stock rallied with the market in October and November 1998, but by December started to decline again. According to Dow theory, the October/November rally would be called a secondary move (against the primary trend). It is likely that the stock was caught up in the general market advance at the time. However, when the major indices were hitting new highs in December, CocaCola was starting to flounder and resume its primary trend. Hamilton noted that sometimes the market would react negatively to good news. For Hamilton, the reasoning was simple: the market looks ahead. By the time the news hits the street, it is already reflected in the price. This explains the old Wall Street axiom, "buy the rumor, sell the news". As the rumor begins to filter down, buyers step in and bid the price up. By the time the news hits, the price has been bid up to fully reflect the news.
Technical Analysis a Pseudo Science: Many academicians call technical analysis a pseudo science. They say there is no perfection in the theory of Charles Dow. Hamilton and Dow also readily admit that the Dow theory is not a sure-fire means of beating the market. It is looked upon as a set of guidelines and principles to assist investors and traders with their own study of the market. The Dow theory provides a mechanism for investors to use that will help remove some of the emotion. Hamilton warns that investors should not be influenced by their
own wishes. When analyzing the market, make sure you are objective and see what is there, not what you want to see. If an investor is long, he or she may want to see only the bullish signs and ignore any bearish signals. Conversely, if an investor is out of the market or short, he or she may be apt to focus on the negative aspects of the price action and ignore any bullish developments. Dow theory provides a mechanism to help make decisions less ambiguous. The methods for identifying the primary trend are clear-cut and not open to interpretation. Even though the theory is not meant for short-term trading, it can still add value for traders. No matter what your time frame, it always helps to be able to identify the primary trend. According to Hamilton (writing in the early part of the 20th century), those who successfully applied the Dow theory rarely traded more than four or five times a year. Remember that intraday, day-to-day and possibly even secondary movements can be prone to manipulation, but the primary trend is immune from manipulation. Hamilton and Dow sought a means to filter out the noise associated with daily fluctuations. They were not worried about a couple of points, or getting the exact top or bottom. Their main concern was catching the large moves. Both Hamilton and Dow recommended close study of the markets on a daily basis, but they also sought to minimize the effects of random movements and concentrate on the primary trend. It is easy to get caught up in the madness of the moment and forget the primary trend. Market Movements The Dow Theory identifies the following market movements. Primary Movement Primary movements represent the broad underlying trend of the market and can last from a few months to many years. These movements are typically referred to as bull and bear markets. Once the primary trend has been identified, it will remain in effect until proved otherwise. Hamilton believed that the length and the duration of the trend were largely indeterminable. Hamilton did study the averages and came up with some general guidelines for length and duration, but warned against attempting to apply these as rules for forecasting.
Many traders and investors get hung up on price and time targets. The reality of the situation is that nobody knows where and when the primary trend will end. The objective of Dow theory is to utilize what we do know, not to haphazardly guess about what we don't know. Through a set of guidelines, Dow theory enables investors to identify the primary trend and invest accordingly. Trying to predict the length and the duration of the trend is an exercise in futility. Hamilton and Dow were mainly interested in catching the big moves of the primary trend. Success, according to Hamilton and Dow, is measured by the ability to identify the primary trend and stay with it.
Secondary Movements Secondary movements run counter to the primary trend and are reactionary in nature. In a bull market a secondary move is considered a correction. In a bear market, secondary moves are sometimes called reaction rallies. Hamilton noted some characteristics that were common to many secondary moves in both bull and bear markets. These characteristics should not be construed as rules, but rather as loose guidelines to be used in conjunction with other analysis techniques. The first three characteristics have been applied to the example above.
Based on historical observation, Hamilton estimated that secondary movements retrace 1/3 to 2/3 of the primary move, with 50% being the typical amount.
Hamilton also noted that secondary moves tend to be faster and sharper than the preceding primary move. At the end of the secondary move, there is usually a dull period just before the turnaround. Little price movement, a decline in volume, or a combination of the two can mark this dullness.
Lows are sometimes accompanied by a high-volume washout day.
Hamilton characterized secondary moves as a necessary phenomenon to combat excessive speculation. Corrections and counter moves kept speculators in check and added a healthy dose of guesswork to market movements. Because of their complexity and deceptive nature, secondary movements require extra careful study and analysis. Investors often mistake a secondary move for the beginning of a new primary trend. How far does a secondary move have to go before the primary trend is affected? To answer this question it is necessary to understand the following stages of market. For stocks. A primary bear market is defined as a long sustained decline marked by deteriorating business conditions and subsequent decrease in demand for stocks. In both primary bull markets and primary bear markets, there will be secondary movements that run counter to the major trend. Elow is a chart of the Dow Jones Transportation Average in 1992. Even though Hamilton and Dow did not make specific references to trend lines, a line has been drawn to emphasize the downward trajectory of the trend. Since the peak in February, a series of lower lows and lower highs formed to make a downtrend. There was a secondary rally in April and May (green circle), but the March high was not surpassed. Dow Theory is a heterodox theory on stock price movements that includes what is now called technical analysis as well as some portion of sector rotation. The theory was derived from 255 Wall Street Journal editorials written by Charles H. Dow (1851–1902), journalist, founder and first editor of the Wall Street Journal and co-founder of Dow Jones and Company. Following Dow's death, William Peter Hamilton, Robert Rhea and E. George Schaefer organized and collectively represented "Dow Theory," based on Dow's editorials. Dow himself never used the term "Dow Theory," nor presented it as a trading system.
The six basic tenets of Dow Theory as summarized by Hamilton, Rhea, and Schaefer are described below. Six basic tenets of Dow Theory 1. The market has three movements (1) The "main movement", primary movement or major trend may last from less than a year to several years. It can be bullish or bearish. (2) The "medium swing", secondary reaction or intermediate reaction may last from ten days to three months and generally retraces from 33% to 66% of the primary price change since the previous medium swing or start of the main movement. (3) The "short swing" or minor movement varies with opinion from hours to a month or more. The three movements may be simultaneous, for instance, a daily minor movement in a bearish secondary reaction in a bullish primary movement. 2. Market trends have three phases Dow Theory asserts that major market trends are composed of three phases: an accumulation phase, a public participation phase, and a distribution phase. The accumulation phase (phase 1) is a period when investors "in the know" are actively buying (selling) stock against the general opinion of the market. During this phase, the stock price does not change much because these investors are in the minority absorbing (releasing) stock that the market at large is supplying (demanding). Eventually, the market catches on to these astute investors and a rapid price change occurs (phase 2). This occurs when trend followers and other technically oriented investors participate. This phase continues until rampant speculation occurs. At this point, the astute investors begin to distribute their holdings to the market (phase 3).
3. The stock market discounts all news Stock prices quickly incorporate new information as soon as it becomes available. Once news is released, stock prices will change to reflect this new information. On this point, Dow Theory agrees with one of the premises of the efficient market hypothesis. 4. Stock market averages must confirm each other In Dow's time, the US was a growing industrial power. The US had population centers but factories were scattered throughout the country. Factories had to ship their goods to market, usually by rail. Dow's first stock averages were an index of industrial (manufacturing) companies and rail companies. To Dow, a bull market in industrials could not occur unless the railway average rallied as well, usually first. According to this logic, if manufacturers' profits are rising, it follows that they are producing more. If they produce more, then they have to ship more goods to consumers. Hence, if an investor is looking for signs of health in manufacturers, he or she should look at the performance of the companies that ship the output of them to market, the railroads. The two averages should be moving in the same direction. When the performance of averages diverge, it is a warning that change is in the air. Both Barron's Magazine and the Wall Street Journal still publish the daily performance of the Dow Jones Transportation Index in chart form. The index contains major railroads, shipping companies, and air freight carriers in the US. 5. Trends are confirmed by volume Dow believed that volume confirmed price trends. When prices move on low volume, there could be many different explanations why. An overly aggressive seller could be present for example. But when price movements are accompanied by high volume, Dow believed this represented the "true" market view. If many participants are active in a particular security, and the price moves 17
significantly in one direction, Dow maintained that this was the direction in which the market anticipated continued movement. To him, it was a signal that a trend is developing. 6. Trends exist until definitive signals prove that they have ended Dow believed that trends existed despite "market noise". Markets might temporarily move in the direction opposite to the trend, but they will soon resume the prior move. The trend should be given the benefit of the doubt during these reversals. Determining whether a reversal is the start of a new trend or a temporary movement in the current trend is not easy. Dow Theorists often disagree in this determination. Technical analysis tools attempt to clarify this but they can be interpreted differently by different investors.
There is little academic support for the profitability of the Dow Theory. Alfred Cowles in a study in Econometrica in 1934 showed that trading based upon the editorial advice would have resulted in earning less than a buy-and-hold strategy using a well diversified portfolio. Cowles concluded that a buy-and-hold strategy produced 15.5% annualized returns from 1902-1929 while the Dow Theory strategy produced annualized returns of 12%. After numerous studies supported Cowles over the following years, many academics stopped studying Dow Theory believing Cowles's results were conclusive. In recent years however, Cowles' conclusions have been revisited. William Goetzmann, Stephen Brown, and Alok Kumar believe that Cowles' study was incomplete  and that Dow Theory produces excess risk-adjusted returns. Specifically, the return of a buy-and-hold strategy was higher than that of a Dow Theory portfolio by 2%, but the riskiness and volatility of the Dow Theory portfolio was lower, so that the Dow Theory portfolio produced higher risk-adjusted returns according to their study. Many technical analysts consider Dow Theory's definition of a trend and its insistence on studying price action as the main premises of modern technical analysis.
FMCG (Fast Moving Consumer Goods) Sector
The Indian FMCG sector is the fourth largest sector in the economy with a total market size in excess of US$ 13.1 billion. It has a strong MNC presence and is characterised by a well established distribution network, intense competition between the organised and unorganised segments and low operational cost. Availability of key raw materials, cheaper labour costs and presence across the entire value chain gives India a competitive advantage. The FMCG market is set to treble from US$ 11.6 billion in 2003 to US$ 33.4 billion in 2015. Penetration level as well as per capita consumption in most product categories like jams, toothpaste, skincare, hair wash etc in India is low indicating the untapped market potential. Burgeoning Indian population, particularly the middle class and the rural segments, presents an opportunity to makers of branded products to convert consumers to branded products. Growth is also likely to come from consumer 'upgrading' in the matured product categories. With 200 million people expected to shift to processed and packaged food by 2010, India needs around US $ 28 billion of investment in the food-processing industry.
Types of Charts
In technical analysis various types of charts are used. For any investor or person who is involved in the stock market it becomes very important to know what will happen to prices of stocks tomorrow. Technical Analysis is one of the ways to forecast future price movements. Use of historical price charts forms the premise of Technical Analysis. There are a number of indicators which have been developed over a period of time to determine the future price movements of stocks. Each indicator has got its own interpretation, strengths and weaknesses. Therefore, as said earlier different indicators should be used in conjunction with each other to determine the strength or weakness of a trend and the possible future price movement. A price chart is a sequence of prices plotted over a specific time frame. Technical analysis is based on charts. Therefore sometimes technical Analysts are called Chartists. On the chart, the y-axis (vertical axis) represents the price scale and the x-axis (horizontal axis) represents the time scale. Prices are plotted from left to right across the x-axis with the most recent plot being the furthest right. A graphical historical record makes it easy to spot the effect of key events on a security's price, its performance over a period of time and whether it's trading near its highs, near its lows, or in between. 90 There are basically three types of charts which are as follows: 1. Line Charts 2. Bar Charts 3. Candle Stick Chart
1. Line Charts:
A line Chart is the simplest type of chart. Line Chart is drawn by plotting the closing price of the stock on a given day and connecting them to make charts. They are widely used charts. The price is marked on the Y-axis and the period of time on the Xaxis. Line chart’s strength comes from its simplicity. The most basic of the four charts is the line chart because it represents only the closing prices over a set period of time. The line is formed by connecting the closing prices over the time frame. Line charts do not provide visual information of the trading range for the individual points such as the high, low and opening prices. However, the closing price is often considered to be the most important price in stock data compared to the high and low for the day and this is why it is the only value used in line charts.
2. Bar Charts
A bar chart displays any security’s open, low, high and closing prices. The bar chart expands on the line chart by adding several more key pieces of information to each data point. The chart is made up of a series of vertical lines that represent each data point. This vertical line represents the high and low for the trading period, along with the closing price. The close and open are represented on the vertical line by a horizontal dash. The opening price on a bar chart is illustrated by the dash that is located on the left side of the vertical bar. Conversely, the close is represented by the dash on the right. Generally, if the left dash (open) is lower than the right dash (close) then the bar will be shaded black, representing an up period for the stock, which means it has gained value. A bar that is colored red signals that the stock has gone down in value over that period. When this is the case, the dash on the right (close) is lower than the dash on the left (open).
3. Candle Stick Chart
The candlestick chart is similar to a bar chart, but it differs in the way that it is visually constructed. Similar to the bar chart, the candlestick also has a thin vertical line showing the period's trading range. The difference comes in the formation of a wide bar on the vertical line, which illustrates the difference between the open and close. And, like bar charts, candlesticks also rely heavily on the use of colors to explain what has happened during the trading period. A major problem with the candlestick color configuration, however, is that different sites use different standards; therefore, it is important to understand the candlestick configuration used at the chart site you are working with. There are two color constructs for days up and one for days that the price falls. When the price of the stock is up and closes above the opening trade, the candlestick will usually be white or clear. If the stock has traded down for the period, then the candlestick will usually be red or black, depending on the site. If the stock's price has closed above the previous day’s close but below the day's open, the candlestick will be black or filled with the color that is used to indicate an up day. We will talk about candlestick chart in detail later. The stock investing basics of Japanese Candlesticks results in clear and easy way to identify patterns that demonstrate highly accurate turns in investor sentiment. Whether totally unfamiliar with investment concepts or very sophisticated in investment experience, the Japanese Candlestick trading formations are easily utilized. A stock price closing higher than where it opened will produce a white candle. A stock price closing lower than where it opened creates a black candle. The boxes formed are called "the body". The extremes of the daily price movement, represented by lines extending from the body, are called "shadows or tails. A stock price closing where it opened or closing at where it opened is called a doji. Memorizing the Japanese Candlesticks names and descriptions of the candlestick trading formations is not necessary for successful trading.
Many investors believe that candlestick charts are easy to read because of the relationship between the open and the close. White (clear) candlesticks form when the close is higher than the open and black (solid) candlesticks form when the close is lower than the open. The white and black portion formed from the open and close is called the body (white body or black body). The lines above and below are called shadows and represent the high and low.
In the technical analysis of FMCG sector we have chosen four FMCG companies. These are as follows. 1. Dabur India 2. P&G 3. Nestle 4. ITC The profile of the above companies as follows. 1. Dabar India 1975 - The Company was incorporated on 16th September for manufacture of high grade edible & industrial guargum powder and its sophisticated derivatives. incorporated in the name of Vishal Chemical (India) Ltd. 1981 - On 19th September, the name was changed to Vidogum and Chemicals Ltd. The capacity of the plant was 2700 tpa of modified and refined guargum powder and derivatives such as oxidised guargum, carboxymethylated guargum, sydoxalkylated, guargum and similar carbo hydrate modification. It was promoted by Dabur (S. K. Burman) Pvt. Ltd. and founded in 1884 in Calcutta. The company manufacture herbal and Ayurvedic medicines and cosmetics in India. The other products are Dabur Amla Hair Oil, Badur Chavanprash, Pudin Hara etc. - The company undertook to set up a unit at Matsya Industrial Estate, Alwar, Rajasthan for manufacture of edible and industrial grade guargum powder and its derivatives. It was
1992 - A new range of coconut oil under the brand name `Anmol' was launched. The company developed Dab 10, an intermediate for anti-cancer drug namely Taxol. - The Company undertook to implement a phytopharma project at Ghaziabad U.P. This unit would manufacture a specialised anti cancer drug Taxot apart from manufacture of chemical intermediary for cancer drug and Terfenadine a non sedative anti allergic drug. The installed capacity of Taxot, the intermediate drug and anti allergic drug would be `6 Kg, 40 Kgs. and 18 tonnes respectively. - The company entered into a joint venture agreement with M/s. Guldenhorst BV Netherland to form a company for manufacture and marketing of all types of bubble gum, chewing gum, toffees, chocolate and cocoa related products, sugar based spreading creams etc. The company co-promoted Dabur Finance Ltd. to carry on the business of leasing, financing etc. - 45,50,520 shares allotted. Pursuant to a scheme of amalgamation of Dabur with Vidogum. 1994 - New products launched were `Dentacare,' Vatika and Lactonic which were well received in the market. - An integrated facility was designed at Alwar for manufacture of Ayurvedic Veterinary range at Alwar, a joint venture in technical collaboration with Shikobo Ltd., Japan to extend the range of natural gum products into speciality products. - The company also undertook to set up a project in Himachal Pradesh for manufacture of Hajmola, honey, Gulabari, Pudin Hara, Lavan Bhaskar Churna and soft gel capsules, part of the existing range of products.
- At its Sahibabad plant, the company undertook to install various balancing equipments, mechanise operations, hitherto performed manually, instal reverse Osmosis plant, a concentration plant for extraction of herbs, barks, roots, seed etc. - The company also undertook to upgrade amla pulping section, expand storage space for ayurvedic raw materials and to meet the cost of the installation of two additional DG sets. - The Company floated two companies a manufacturing unit in Egypt in the name of Dabur Egypt Ltd. and Dadur International Ltd. in BVI. The company entered into a joint venture with Seprache International Ltd. in the name of `Innova' Inc. For manufacture of anti cancer drug namely `Paclitaxel'. - The company signed a MOU with Osein Internatinal Ltd. for manufacture of biscuits, snack, foods & other products in India. 1995 - In addition to the existing products, the company exported products like an improved version of Chyawanprash (with more honey and less pungency) liquid form of Chyawanprash an aqueous based, hair vitalizer Melatonine etc. - 182,02,080 bonus equity shares issued in prop. 4:1. During November 1993, the company issued 57,00,000 equity shares of Rs 10 lakh at a prem. of Rs 85 per share of which the following were reserved for allotment on a preferential basis: (1) 2,64,000 shares to employees of the company's shareholders of group cos. (all were taken up); (2) 5,27,000 shares to NRIs (all were taken); (3) 11,40,000 shares to Indian Fin. Insts. (only 8,38,400) shares taken up; (4) 5,40,000 shares to FIIs (all were taken up); (5) 6,00,000 shares to Indian Mutual Funds (all were taken up). Balance 26,29,000 shares along with 3,01,600 shares not taken up by FIIs, issued to public. Additional 56,530 equity shares allotted.
1996 - The company launched Madhuvanni an anticough preparation. - A unit was being set up at Baddi for manufacture of Chywanprash Janma Ghunti, Lal Tail, Dashmularishta and Ashokarishta. Semi synthetic pacitaxel and Docetaxel and various front line anti cancer drugs were being produced both for domestic as well as export market. The company proposed to double the volume of the Katni plant and introduce modern technology in processing Amla with high productivity and improved quality. - The company undertook to set up a joint venture in Bangrain of France in the names of Dabon International Pvt. Ltd. Another joint venture viz. General de Confiteria Pvt. Ltd. commenced commerical production in April 1995. 1997 - The Company set up a new manufacturing unit with a high degree of automation at Baddi (H.P.), to produce company's well known brands viz. Chyawanprash, Janma Ghunti, Ayurvedic oils and Asva-Arishtas. A modern air conditioned packing line was commissioned at Sahibabad for homemade brands of ethnic pastes and line juices. - The Dabur India Ltd has formed a joint venture with Osem of Israel for the production of food product in India. The joint venture named as Excelcia Food Pvt Ltd will have the Rs.15 paid up capital in which Dabur will have 60 per cent stake while Osem will have the rest 40 per cent holding in the company. - The company extended its range of real fruit juice by offering mixed fruit juice and tomato juice. Its veterinary division launched `mastilep' for curing mastitis in cattle. - Dabur India launched a range of extruded snack foods, ready-to-use cooking pastes and sauces here on Thursday.
- Dabur India is negotiating with Antonio Puig of Spain, the maker of the Paco Rabanne perfume range, and Kesling of France to set up joint ventures in the country as a part of its strategy to establish a strong presence in the personal care sector. - Dabur India Ltd, Great Eastern Shipping Company Ltd and Ranbaxy Laboratories Ltd. have signed agreements with NSDL to get their securities admitted for dematerialisation at NSDL. - Dabur Industries Ltd has signed a tripartite agreement with the National Securities Depository Ltd and MCS ltd for dematerialising Dabur shares, becoming the first MCG company to avail of the facility. - Dabur India Ltd is launching a new communication campaign this month to reposition its oldest brand - `Pudinhara'. 1998 - Dabur India Ltd on 19th January 1998 launched low sodium cooking salt called Nutrasalt in Chandigrah. - Dabur signed a joint venture with Bongrain International SA of France to form a new company called Dabon International Ltd - Dabur India Ltd has launched a range of ayurvedic health care products for dogs under the umbrella brand name Ayupet. - Dabur India Ltd (DIL) has commissioned consultancy firm Noble and Hewitt to script a employee stock option plan. - Dabur India has tied up with Godrej Foods for the manufacture and packaging of its `Real' range of fruit juices and fruit drinks in tetrapacks.
1999 - Dabur India Ltd has entered into an agreement with its Spanish partner Agrolimen to offload its 49 per cent stake in the joint venture company General De Confiteria India Ltd in favour of an Agrolimen group company. - Dabur Pharmaceuticals Limited (DPL) has set up its first overseas arm in Britain with a million investment commitment and is considering similar ventures in Russia as well as South African countries. 2000 - The Company has taken Nestle SA to the Company Law Board (CLB) charging the latter with arm-twisting it as a majority shareholder in their biscuit manufacturing joint venture Excelcia Foods Ltd (EFL). - FMCG major Dabur, along with US insurance company Allstate and Prudential-ICICI joint venture have applied for life insurance license as the Insurance Regulatory and Development Authority . - The Company has divested its entire 40 per cent stake in the controversial joint venture Excelcia Foods with Swiss major Nestle SA for a token amount of Rs 10. - The Company sub-divide the fully paid-up equity shares of Rs. 10 each into 10 fully paid-up equity shares of Re. 1 each. - Three domestic pharma companies - Cadila Pharmaceuticals, Shantha Biotech and Dabur India have signed an agreement with the department of biotechnology (DBT) for developing and marketing basic molecules in leprosy, hepatitis and tumor disease segments.
- Crisil reaffirmed the highest safety rating of `P1+' to the company's Rs 100-crore commercial paper programme. Crisil has reaffirmed it's AA rating, indicating high safety, assigned to the Rs 20 crore non-convertible debenture issue of the company. - Dabur India Ltd., has launched Efarelle Comfort, a natural menstrual pain reliever. - Dabur India's ayurvedic specialities division has launched plain isabgol husk under the brand name Nature Care. 2001 - Dabur India Ltd. proposes to increase the number of directors on its board, by adding three new directors. 2002 - Dabur India Ltd has informed that Mr. Ninu Khanna would now be continuing as CEO & Director till the Date of the next Board Meeting scheduled to be held on January 22, 2002. 2002 - Dabur India Ltd has informed that Mr.Ninu Khanna has resigned as Chief Executive Officer and Director of the Company and the resignation has been accepted. - Dabur India Ltd has informed that the Compensation Committee has allotted 16660 fully paid equity shares of Re 1 each for cash at par to the employees of the Company. - Dabur India Ltd has informed that the Board of Directors has approved the restructuring of the Board. Mr A CBurman, Mr Sidharth Burman, Air Chief Marshal N C Suri (Retd), Mr S M Datta, Mr Raja Vijay Karan.Mr Ashok Goenka have resigned from the Directorship of the Company and the Board has accepted the same w e f April 1, 2002.Further, Mr V C Burman and Mr Pradip Burman have also resigned from the Whole-time Directorship of the Company. Mr V C Burman and Mr Pradip Burman will, however continue as Non-executive Directors of the Company.
-Pradip Burman appointed as Whole time Director of Dabur India. -The Board of Directors of Dabur India Ltd has appointed Mr Sunil Duggal as Chief Executive Officer of the company wef July 01, 2002. 2003 -The fourth Largest FMCG, Dabur India Ltd has tied with Free Markets Inc. for using leading edge technologies to execute online markets for its procurement needs. -CRISIL assigned CRISIL GVC LEVEL 2 rating for governance and value creation practices of the company. -Dabur has sued Pharmaceutical major Ranbaxy for telecasting the comparative commercial of Pepfiz. -Dabur India has inducted Mr. Siddharth Burman as the chairman and Mr. Sunil Duggal, Mr. P. D. Narang and Mr. Charanjit Mohan as the directors of the 4-member board of Dabur India's global arm based in Dubai. -The company acquired 10,00,000 ordinary fully paid shares of 1 Pound Sterling each of Redrock Limited with this acquisition Redrock Limited has become a wholly owned subsidiary of the company. Redrock Limited is engaged in the business of manufacture and sale of various cosmetics, toiletries and health care products and operates from the Jebel Ali Free Trade Zone in Dubai. -Acquires equity in Shri Dhanwantry Educational Society -Dabur forges alliance with Dhanwantry -Dabur launch new Herbal pill for diabetics
2004 -Dabur set to acquire Egyptian hair oil brand Touch -Dabur India gets Tetra Pak award -Dabur India inks pact with Accenture for outsourcing -Implements `Spend visibility solution' software provided by FreeMarkets Inc to control costs and strengthen the company's procurement process -Dabur ties up Uttarnachal for cancer drug -Dabur India has acquired a Nigerian company African Consumer Care Ltd, a step precursor to its plans to go on-shore for manufacturing in the country -Dabur join hands with DLF for healthcare hub 2005 -Delists equity shares from The Calcutta Stock Exchange Association Ltd (CSE) with effect from January 27, 2005, - Completes the acquisition process of Balsara Hygiene Products Ltd & Besta Cosmetics Ltd on April 16, 2005. 2006 -Dabur's Director P D Narang appoints as Chairman of PTL
2. P&G 1964 - The Company was Incorporated on 20th July at Mumbai. vicks Products Inc., India. - 90 shares taken up by signatories to Memorandum of Association. 110 shares issued to Richardson Merrell Inc., U.S.A. 1966 - 2,74,890 shares issued to Richardson-Merrel, USA which 99,910 shares reserved for allotment to directors, employees, associates, etc. The balance 1,25,000 shares offered for public subscription. 1968 - 2,00,000 bonus shares issued in prop. 2:5. 1973 - 4,00,000 bonus shares issued in prop. 4:7. 1978 - 4,00,000 bonus shares issued in prop. 4:11. 1980 - 3,00,000 bonus shares issued in prop. 1:5. 1983 - 5,94,000 shares issued (prem. Rs 20 per shares, prop. 11:15) as rights to resident Indian shareholders. 81,000 shares (prem. Rs 20 per share) allotted to employees and business associates. The company Was promoted by Richardson-Marrell Inc., New York and its wholly owned subsidiary -
1984 - 12,37,500 bonus shares issued in prop. 1:2. 1985 - In September, the Company's herbal plant for the manufacture of herbal and other natural ingredient products at Annaram in Medak district of Andhra Pradesh was commissioned. produced. - In October, Procter & Gamble Co., acquired Richardson-Vicks Inc., and consequent to this, Richardson Hindustan Ltd. (RHL), became an affiliate of Procter & Gamble Co. In view of this, the name of the Company was changed to Procter & Gamble India Ltd., from Richardson Hindustan Ltd., with effect from 4th April, 1988. - The Company proposed to change its name to Procter & Gamble Hygiene and Health Care Ltd. to better reflect the nature and character of the business and in keeping with company's objective of focussing on its core categories viz. Feminine Hygiene and Health Care. - Richardson-Merrell Inc., Wilton, U.S.A., the holding company, holds 14,85,000 No. of equity shares out of 37,12,500 No. of equity shares issued by the Company. 1988 - 29,70,000 bonus shares issued in prop. 4:5. 1990 - The Company set up a plant at Mandideep, the M.P., to manufacture high technology detregents. The first phase of the plant commenced commerical production in April The Mentha Research centre located at Bilaspur in U.P. carrys out research in the growing of mentha arvensis from which mint oil and menthol are
1991, and the new detergent Ariel Microsystem was test marketed in Vishakpatnam. After the success therein, it was introduced to Andhra Pradesh and Tamil Nadu. 1991 - New initiatives were introduced to strengthen the skin and hair care business namely `Ultra Clearsail', `Olay Sensitive' and `Mediker Upgrade'. - During July-August, the Company offered 4,00,960 - 12.5% partly convertible debentures of Rs 200 each on rights basis to equity shareholders (other than shareholders of Richardson-Vicks Inc., U.S.A. RVI) in the proportion 1 deb.: 10 equity shares held. (all were taken up). - Another 20,000 - 12.5% debenture were issued to employees on an equitable basis (only 17,480 debentures taken up). allowed to lapse. - Rs 65 of the face value of each debentures was to be automatically and compulsorily converted into 1 equity share of Rs 10 each at a premium of Rs 55 per share on the expiry of 18 months from the date of allotment of debentures. 1992 - During the year new initiatives namely Ariel Green, Whisper Exra Long and Whisper Extra Large were introduced. - The balance of Rs. 135 of the face value of each debenture was to be redeemed at par on 3 equal annual instalments on the expiry of 6th, 7th and 8th years from the date of allotment of debentures. Conversion of Part A of 65 of the debentures was preponed from 4th March, 1993 to 31st July, 1992. Accordingly, the Company allotted 4,18,440 equity shares of Rs 10 each at a premium of Rs 55 per share on 1st August. Unsubscribed portion of 2,520 debentures was
- The Company also offered 16,03,800 -14% non-convertible debentures (NCD) of Rs 100 each in the proportion 8 debs.: 20 equity shares held (all were taken up). - Another 80,200 - 14% NCD's were issued to the employees on an equitable basis (only 79,2000 debentures taken up). Unsubscribed portion of 100 debentures was allowed to lapse. Each block of 8 non-convertible debentures was to contain 1 warrant, entitling the holder to apply for 3 equity shares of Rs. 10 each at a premium as may be then approved by CCI within 4th and 5th year from the date of allotment. Accordingly 6,21,508 shares were allotted at a premium of Rs 55 per share. These debentures were to be redeemed at par on the expiry of 6th, 7th and 8th years from the date of allotment of debentures. - During July, the Company issued 15,00,153 equity shares of Rs 10 each at a premium of Rs 215 per share to RVI in order to raise their equity holding from 40% to 51%. - Another 2,78,960 equity shares of Rs 10 each at a premium of Rs 55 per share and 1,56,559 equity shares of Rs 10 each at a premium of Rs 215 per share were allotted on 1st August, to enable RVI to continue to hold 51% of the equity capital on account of conversion of Part A of partly convertible debentures. 1993 - High Quality `Whisper' with `Wings' was introduced. During the year the Company purchased `Old Spice Men's Toiletries and also divested the Laundry and Detergent business but retained detergent manufacturing facility at Mandideep and supplied the detergent to Proctor & Gamble Home Products Ltd. - The Company issued 36,14,645 equity shares of Rs 10 each at a premium of Rs 110 per share to RVI in order to raise their equity holding from 51% to 65%. - During May 4,02,890 equity shares of Rs 10 each at a premium of Rs 55 per share and 7,51,339 equity shares of Rs 10 each at a premium of Rs 110 per share were allotted to
enable RVI to continue to hold 65% of the equity capital on account of conversion of equity Warrants. 1995 - The Company introduced a premium line of drops under the name Vicks Vitamin `C'. With a view to improving employees' productivity the company installed electronic voice mail connecting all employees across India. The Company launched Whisper Extra Dry, a superior performing sanitary protection product. - The Company undertook to set up a state-of-the-art technology health care plant at Goa. 1996 - The Company has recently introduced into test market VICKS VAPORUB Super Balm. 1997 - 72,13,497 equity shares allotted as bonus shares in prop. 1:2. - Procter & Gamble Home Products has expanded the line of its Pantene shampoos in India by launching a new variant, Pantene Pro V Extra Treatment shampoo. - Procter & Gamble Godrej has been renamed Procter & Gamble Distribution Company with effect from December 16, 1996. The re-christening is a prelude to the wind-up or a merger of the company with either of the two P&G companies in India, P&G India or P&G Home Products. - Procter & Gamble has finally launched Head & Shoulders, the world's leading antidandruff shampoo brand in the country.
- Procter and Gamble India Ltd has announced a bonus share issue in the ratio of one equity share for every two equity shares held. - The board of Proctor & Gamble India (P&G) has declared a one-for-two issue of bonus shares and 75 per cent dividend for the year ended June 30. 1998 - Procter & Gamble India has introduced a Stock Appreciation Rights (SAR) plan for all its full-time employees in India, in an innovative variation of the stock option scheme. - Procter & Gamble India Ltd. has changed its name to Procter & Gamble Hygiene and Health Care Ltd. meeting. - Procter & Gamble (P&G) has launched a free career counselling service - P&G Future Focus - with Resource Management Group (RMG). - Procter & Gamble India Ltd (P&G) has undertaken an exercise of streamlining its existing distribution and supply chain with a view to making it more consumer oriented, thus making the products available to the consumer faster and fresher. 1999 - Procter & Gamble Home Products, the wholly-owned subsidiary of the Cincinnatibased multinational, is test launching `Pringles', the internationally renowned potato chip brand in the Capital. - Procter & Gamble Inc (P&G), the US-based home products giant, has launched its most popular detergent brand, Gain, in the local market. - Procter & Gamble launched its first ever sight restoration corporate project called Project Drishti in collaboration with the National Association for the Blind. This was approved by the shareholders at the company's annual
- The fast-moving consumer good major, Procter & Gamble is likely to route new brand launches in India through its fully-owned subsidiary, P&G Home Products, instead of its other subsidiary listed on the country's bourses. 2000 - The Company has launched a new brand, Tampax, Indian Sanitary napkin market. - The Company has relaunched its Vicks cough drop in a new 2.5 gm blue back. - The Company has launched Tide detergent in India. - The Company has launched `Project Poshan', a social marketing initiative in association with UNICEF in the Indian markets. - Procter & Gamble Co. and setting the company on a blistering pace of change, Durk I Jagar abruptly quit. - The Company was awarded Chennai-based SembCrop Logistics the prestigious Pinnacle Award for achieving internationally benchmarked standards in Good Manufacturing Practices. - The Company, the maker of Tide laundry detergent and Bounty paper towels, launched an over-the-counter tooth whitening product under its Crest brand that uses the same whitening ingredient used by dentists. - The Company launched Pantene Lively Clean, the latest in the Pantene Pro-V range of shampoos in India. - The Company launched New Ariel Power Compact detergent with a new global technology.
- Procter & Gamble Home Products Limited, the fully-owned subsidiary of Cincinnatibased Procter & Gamble Co, is creating a new segment in the fabric cleaning market in India with the launch of its international brand Febreze, fabric odour cleaner at Chennai. - Helmut Meixner, chief executive officer of Procter & Gamble in India, has retired effective 5th July, Gary Cofer, Director has been appointed P&G country manager in India with immediate effect. - The Company has relaunched Vicks Action 500+ in an attractive True Blue pack. - The Company has entered into the second phase of planned restructuring, cashing in on a more efficient supply chain management system, launching extension of existing flagship brands and launching bigger brands from the global portfolio. - The Company has launched Vicks Plus medicated lozenges in India. - Gary W. Cofer, country manager, Procter and Gamble, India has been appointed managing director of Procter and Gamble Hygiene and Healthcare Ltd. with effect from 1st September. - Procter & Gamble Hygience & Healthcare has tied up with `Doctoranywhere.com', an online consulting service that enables consultation, referral and interaction of doctors with specialist consultants. - Procter & Gamble Co., launched BeingGirl.com. - The Company has tied up with Doctoranywhere.com, an online service that enables consultation referral and interaction of doctors with specialists.
- The Company has introduced Doorstep Challenge advertising for its detergent brand, Tide. - The Company has launched a website -- www.spraytugsmooth.com exclusively for its newly-launched fabric spray, Downy Wrinkleleaser, in an attempt to explain the benefits of the product. - Procter & Gamble's haircare brand Pantene will present Hair Asia Pacific 2000, the international cotest for hairstyles and beauty experts in collaobration with the Sri Lankan Association of Haridressers and Beauticians. - The company has re-launched Viks Action 5000 in an attractive true Blue international pack. - The Company announced the launch of 'Best-Ever Head & shoulders anti-Dandruff Shampoo' (H&S) in the Rs.500 crore hair care market. 2001 - Head & Shoulders, a brand of Shampoo from the Proctor and Gamble stable, has launched its new commercial with three ke anti-dandruff claims -- eliminates dandruff flakes forever with regular use, removes 100 per cent visible flakes and has an effect from the first wash itself. - Procter & Gamble Hygiene and Health Care has launched the new Whisper Ultra DayNight pack for the first time in India, in Tamil Nadu. - Procter & Gamble Home Products has launched its Tide detergent in sachets, primarily to induce trials. - The Company has launched an outdoor advertising campaign for Vicks Plus medicated lozenges.
- Procter & Gamble Home Products (P&G) has finally unveiled the mystery of the five bald women in a ‘We want a change’ campaign with the relaunch of the Pantene Pro-V range of shampoos in India. 2002 - Procter & Hygiene and Health Care Ltd has informed that Mr Gary Cofer will cease to be the Managing Director of the company wef April 01, 2002. Mr Shantanu Khosla will be appointed as the Managing Director. 2002 - Anil Gupta appointed as Additional Director of Procter & Gamble. -Shantanu Khosla appointed as M D of Procter & Gamble w e f June 01, 2002. 2003 -Procter & Gamble Hygiene & Health Care Ltd has informed BSE that the Board of Directors considered and approved the following changes in the constitution of Board of Directors with effect from January 31, 2003: resignation of Mr. Peter Smit as the Director and appointment of Ms. Nayantara Bali as Director to fill in the casual vacancy caused by the resignation of Mr. Peter Smit. -P & G has sought the approval of Foreign Investment Promotion Board to revamp the capital of its foreign subsidiary. -P&G and Jaya TV have announced a launch of 'Shiksha, Secure your child's future' a special promotion to help educate children in India. -P&G has informed BSE that it has discontinued the text-marketing of Vicks Action 500 Night.
-P&G and HLL have lodged a complaint with the Advertising Standards Council of India over HLL's new Clinic All Clear Anti-dandruff shampoo. -Procter & Gamble India has slashed the prices of its sachets of washing powder Tide and Ariel. -Procter & Gamble Hygiene and Healthcare ltd has launched new VICKS Formula 44 cough syrup, which provides safe, effective and long lasting relief of up to eight hours. -P&G has more than doubled its productivity per employee in four years and there have been savings in the backroom office of upto 90 minutes. -P&G has set up two e-research and development networks, which would act as 'problem solving exchanges'. -Procter & Gamble announced 1:2 bonus issue the company would issue 1.08 million new shares of Rs 10 each. -Unveiled Ariel sachet priced at Rs 2 and Tide sachet at Re 1 in Andhra Pradesh for the first time. 2004 -P&G unveils Rejoice Shampoo on Jan 19 -Procter & Gamble of the US announced a strategic tie-up with the Council of Scientific and Industrial Research (CSIR) to support acceleration of its `Connect and Develop' strategy launched in India in September last year 2005 -P&G introduces new aloe vera version of Head & Shoulders
3. Nestle 1959 - On 28th March, the Company was incorporated at New Delhi. The company was promoted by Nestle Alimentana S.A. through a wholly owned subsidiary, Nestle Holdings Ltd., Nassau, ahama Islands. 1968 - 1,37,785 Bonus shares issued in proportion 1:10 on 12.9.1968. - On November company issued 3,00,000 shares at par. 22,000 shares reserved for directors, etc. and 2,78,000 shares offered to the Public. 1970 - 34,251 shares issued against machinery to collaborators. 1978 - During the period 4,00,114 equity shares and 382,751 existing equity shares held by Nestle's Holdings, Ltd., Nassau, Bahama Islands (Nestle) were offered to the resident Indian nationals at a premium of Rs. 2.50 per share. 1980 - 22,50,000 bonus shares issued in proportion 1:1 on 30.7.1980. 1983 - 27,00,000 bonus shares equity shares issued in prop. 3:5. 1985 - 18,00,000 Rights equity shares issued (Prem. Rs 30 per shares; prop. 1:4). 4,50,000 additional shares allotted to retain oversubscription. 90,000 No. of equity shares allotted (prem. Rs 30 per share) to employees of the Company on an equitable basis.
60,000 No. of equity shares allotted (prem. Rs 30 per share) to Nestle's Holdings Ltd. to maintain their shareholding. 1986 - The Shareholders approved the issue of non-Convertible debentures (IInd series) for an aggregate value of Rs 11.52 crores. - 96,00,000 bonus shares issued in prop. 1:1. 1987 - During the year installation of a new factory at Nanjangud (Karnataka), for the manufacture of instant coffee was in progress. 1988 - During Jan/Feb, the Company offered 19,35,360-12% secured redeemable convertible debentures of Rs 160 each of which 92,160 debentures were reserved for allotment to Indian working directors and employees of the company. The remaining 18,43,200 debentures were offered to the shareholders (except Nestle) of the company on right basis in the ratio of 4 debentures for every 25 shares of Rs.10 each of the company held. Additional 2,76,480 debentures were allotted to shareholders to retain over-subscription. - As per the terms of issue, the convertible part of Rs 60 out of the total face value of each debentures of Rs 160 will be Automatically converted into one equity share of Rs 10 each as fully paid up at a premium of Rs 50 per share on 31.3.1989. The non-convertible part of Rs 100 of each debenture will be redeemed after a period of seven years from the date of allotment of debentures. 1989 - 22,11,840 No. of equity shares allotted (prem. Rs 50 per share) in part conversion of 12% debentures. 14,74,560 No. of equity shares of allotted to retain oversubscription. 90,000 No. of equity shares allotted (prem. Rs 30 per share) to employees of the
Company on an equitable basis. 60,000 No. of equity shares allotted (prem. Rs 30 per share) to Nestle's Holdings Ltd. to maintain their equity shareholding. - The name of the company was changed from `Food Specialities Ltd.' to `Nestle India Ltd.' on 24th March. 1990 - During the year company entered into chocolate business by introducing Nestle premium chocolates. 1991 - During the year company issued 10,00,000-14% secured redeemable non-convertible debentures (series PP-1) of Rs. 100 each to Infrastructure Leasing and Financial Services Ltd., on private placement basis. 1992 - As per the term of Amalgamation scheme 100,51,850 No. of equity shares of Rs.10 each of the company were issued to the NFPIL share holders in the proportion of two equity shares of Rs. 10 each of the company for every thirteen equity shares of Rs.10 each held in the NFPIL. 1993 - Samalkha factory was commissioned during the year and underwent expansion for cereal based products. - 196,07,054 shares 47,51,625 No. of Equity shares of Rs 10 each allotted to M/s. Nestle SA Switzerland to raise the stake to 51%. 128,55,429 bonus shares issued in prop. 1:4. 1994 - During the year company launched a number of new products viz., Cerelac Soya, Milk maid, Dessert Mixes, Maggo Tonit's Special Cooking Bases, Maggi 1-2-3 noodles,
Contodina snack dressing and the chocolate items, milky base marbles and bar one peanut. And also launched, Bonus and Polo. 1995 - During the year company commenced construction of a new factory at Bicholim, Goa. At the same year, instant noodles factory was installed and commissioned at Samalkha factory. - During the year company launched Kit Kat manufactures at the new factory at Ponda, Goa. - During the same year the Nanjangud factory was commissioned and the unit was to manufacture MILO - the World's Largest Selling Chocolate energy food drink. - During 95-96, the company issued secured redeemable non-convertible debentures of Rs. 100 each on private placement basis. i.e. 3,000,000 - 16.5 % (series PP-2) debentures and 2,500-17.5% debentures (series pp-2) and 2,50017.5% debentures (series PP-3). - 32,138,572 bonus shares allotted in prop. 1:2. - The Chennai-based Indian Food Fermentations tied up with Nestle India Ltd., to market its dosa and vada batter in consumer pack, in the country. The company has signed an agreement to this effect recently. Nestle would sell the ready-to-use dosa, vada, sambhar and unique masala dosa batter in consumer packs, under its own brand name in the country.
1996 - During the year company launched MILO-Chocolate energy food drink in South India and a range of culinary products like, Dosa and Sampar mixes, pickles and new varieties of soups under the brand Maggi. 1997 - Nestle India (NIL) is raising Rs.50 crore through a non-convertible debenture issue. The issue has been rated AAA by Credit Rating and Information Services of India (Crisil), indicating the highest safety with respect to timely payment of interest and principal. - NIL is one of the top players in the processed food & beverages industry and the largest producer of instant coffee with a 49 per cent market share. - After the success of KitKat and Polo, Nestle India has launched its first product in the hard boiled sugar confectionery market, Allen's Splash. - Nestle's wafer chocolate brand, Kit Kat, which created a major dent in the market with its launch, its international milk drink brand Milo has garnered a mere three per cent share (value terms) in the Rs 500 crore market, a year after its launch in India. - Nestle India Ltd. (NIL) leads the list of the country's top 15 coffee exporters for the ongoing calendar year in terms of both quantum and value for the period January 1 October 23. 1998 - Swiss multinational Nestle SA has ordered an international auditing of its Indian subsidiary, which has been mired in a controversy of alleged financial irregularities and insider trading.
- Nestle SA and the BM Khaitan group set up a joint venture, Nutritional Food Products India Ltd, in 1990 which was amalgamated with NIL in 1993. - Nestle has set up a parallel distribution network across the country. 1999 - The company has also set up a special cold chain for product distribution in select retail outlets. - Nestle India has entered into a 10-year agreement with Campco in February, 1990 for manufacture and supply of bulk quantity of chocolates and cocoa products. 2000 - Nestle is set to enter the domestic bottled water business and will launch the product under the brand name `Pure Life'. - The Company has launched its ultra heat treated liquid milk, `Nestle Pure Milk', in Bangalore, Chennai, Hyderabad and Kochi. - The Company has launched Perrier and will celebrate Perrier Invitation Golf-2000. - Nestle India Ltd. to launch Nescafe Gold and Nescafe Gold Decaffeinated. - Nestle India has launched a range of gift packs under the Fox confectionery brand name for the festivel seasons. - The Company launched its second premium mineral water brand San Pellegrino in India.
2001 - Nestle India Ltd. has launched `Pure Life', its mass-market bottled water, adding one more premium brand to the already saturated Rs 600-crore bottledwater segment. - The board of directors of Nestle India on July 27, nominated the Chairman and Managing Director of NIIT Ltd, Mr Rajendra S. Pawar, on the company board with effect from October this year. - The board of directors of Nestle India on July 27, nominated the Chairman and Managing Director of NIIT Ltd, Mr Rajendra S. Pawar, on the company board with effect from October this year. 2002 -Nestle Group increases holding in Nestle India to 53.27% -Ties up with Nilgiris to co-brand various dairy products like dahi, paneer, ghee and possibly milk -Launches a throat lozenge branded Acti-V to compete against Proecter & Gamble's Vicks cough drops -Regains top coffee exporter positon in India -Parson Nutritional Pvt. Ltd. buys the assets of Excelsia Foods, including its manufacturing unit at Ghaziabad, from Nestle S.A 2003 -Rolls out Nestle Development Nutrition Plan for infant weaning and launches its infant food CERELAC 123 as a range of products graded to the needs of infants in each stage of the plan
-Nestle India's executive director Ranjit Raj re-elected to be the Coffee Board member representing instant-coffee manufacturers -Nestle SA, Switzerland, buys 1.01 million shares in its Indian arm 'Nestle India'. With this purchase, the parent holding in its Indian arm goes up to 59.8 per cent from 58.7 per cent -Consumer Body files case against Nestle India in National Consumer Dispute Redressal Commission (NCDRC) regarding the non-compliance in weight in its 50-gm Nescafe packs -Signs a 100 per cent buyback pact with Bengal Nestor's India Ltd (BNIL) for its ultra heat treated milk and other dairy products -Ed Marra, the head of Nestle's Canadian business, will succeed Frank Cella as head of strategic business units and marketing at the turn of the year, the Swiss group said in a statement. -Paul Bulcke, now head of German operations, will replace Carlos Eduardo Represas as top executive in the Americas zone from July 1, '04. 2004 -Nestle India bags Tetra Pak's annual dairy and beverage industry award -Nestle India has signed on Bollywood actress Preity Zinta to feature in its latest commercial brand maggi -Nestle introduces 'Sweet Lassi' in Delhi, Punjab and Haryana
-Nestle India said on June 24, 2004, it has signed Rani Mukherjee as brand ambassador for its chocolate brand Nestle Munch and the advertising campaign will be released on June 25 2005 -Neslte India launches new variant of Maggi -Delists securities from the Delhi Stock Exchange Association Ltd (DSE) w.e.f. July 15, 2005. 2007 - Nestle India Ltd has informed that the Board of Directors of the Company at its meeting held on July 31, 2007, inter alia, has appointed Mr. Pradip Baijal as a NonExecutive Director of the Company.
4. ITC 1910 - On 24th August the Company was incorporated as a Private Limited Company under the name, Imperial Tobacco Co. of India Ltd. The Company manufactures and distributes cigarettes and smoking tobaccos and speciality papers including cigarette tissue papers (Sole manufacturer in the country). Other activities include tobacco leaf processing, printing and packaging, hotels, food and exports. 1953 - The Company acquired the manufacturing business of Tobacco Manufacturers (India) Ltd., and the Complementary Lithographic printing business of Printers (India) Ltd. 1954 - The Company was converted into a Public Limited Company on 27th October. 1970 - The name of the Company was changed from the Imperial Tobacco Co. of India Ltd., to India Tobacco Co. Ltd., in May. - 5,00,000 Right shares issued to Indian shareholders (prem. Rs 3 per shares). 32,90,000 No. of Equity Shares offered to the public (prem. Rs. 3 per share). 1972 - On October Company entered into hotel business. 1973 - Company received the approval of Govt. for setting up three processing plants. 1974 - On 1st April name again changed to I T C Ltd.
- During this period an offer for sale of 28,04,775 equity shares at par was made to the Indian public by the three major non-resident shares holders viz., Tobacco manufactures (India) Ltd, Tobacco Investments Ltd., and Rothmans International Ltd. all of UK. 1975 - ITC Ltd Purchased the net asset in India of India Leaf Tobacco Development Co. Ltd. (UK). 1976 - During December some foreign shareholders offered a total of 38,00,000 No. of equity shares of Rs 10 each at a premium of Rs 5.00 for sale to reduce the foreign equity holding of the Company to 40%. The shares offered were 10,95,774 shares by Tobacco Manufacturers (India) Ltd., 26,42,216 shares by Tobacco Investments Ltd., U.K., and 57,010 shares by Rothmans International Ltd., U.K. 1978 - 37,90,000 Bonus shares issued in prop. 1:5. 1979 - The name of the Company's chain of hotels was changed from Welcom Hotels to Welcomgroup. on 27th January. 1980 - 45,48,000 Bonus shares issued in prop. 1:5. The company entered into a Marketing Service and Reservations Agreement with the Sheration International Incorporated which was sactioned by Govt.
1983 - A new Company under the name Gujarat Hotels was incorporated under a joint venture agreement signed between the Company and Gujarat Industrial Investment Corporation. This Co. had set up a 144-room hotel at Vadodara known as Welcomegroup Vadodara. - The Company is holding 24.9% of the subscribed equity capital of Rs 348 lakhs of Gujarat Hotels Ltd., as on 31.03.1993. 1984 - 29,38,050 shares allotted to bondholders in exchange of accrued interest on 1.7.1984. 1985 - 29,42,060 Shares allotted to bondholders in exchange of accrued interest. 1986 - The Company signed a joint venture agreement with MP Audyogik Vikas Nigam for setting up of four hotels over the next five years. - ITC Filtrona Ltd. a 50:50 joint venture Company promoted by the Company and Filtrona International Ltd. UK. The Company manufactures high technology filters for the cigarette industry. 1987 - New brands viz., Wills Flake Premium Filter and Scissors Filter were introduced. Long-term agreements were entered into with the unions of factories located at Calcutta, Saharanpur and Munger. In Bangalore, however, working was affected by a strike for 114 days. - The Company acquired Nedovs Hotel, Srinagar on lease. An agreement was concluded for building a new hotel in Jaipur and the hotel division added another 30 rooms in Mughal Sheraton, Agra, to cater to the growing demand.
1988 - In May the company formed a new division called Agribusiness Division for carrying out research and development on production and distribution of high yielding cultivars with emphasis on oil seeds, marketing of edible oils in bulk and consumer packs and export of agricultural produce. - A Memorandum of Understanding was signed with the authorities to open an Indian restaurant in Odessa, U.S.S.R. - The Company subscribed for 11,86,157 No. of equity shares of Rs 10 each for cash at par in the equity capital of PABL. - Different varities of oilseeds under the brand name of ADARSH and cooking oil under SUNDROP were launched. - New investments were made in water and bulk liquid packaging project. The Company explored the possibility of setting up a new software development centre in India with ability to access Company's customers' computers abroad through data communication links. - A major part of the business of India Leaf Tobacco Development Co. Ltd., (U.K.) (ILTD) consisted of its operations in India where it operated as a sister concern of the Company. ILTD was a pioneer in introducing Virginia tobacco to India and over the year, developed into a highly efficient enterprise, besides being a very large exporter of tobacco. The Company purchases, with effect from 1st April, 1975, the net assets in India of ILTD whereupon it became a division of the Company. 1989 - During the year Company entered into a foreign collaboration agreement with Liqui Box Corporation of U.S.A. for manufacture of Plastic bags dispensing valves and
filments, Industrial Machinery for use with packaging and filling system for manufacture at the company's industrial unit at Thiruvottiyur in Tamil Nadu. - 331,68,110 Bonus Equity shares issued in prop. 1:1. - The Company proposed to evaluate a methodology for extraction of tobacco protein and solenesol and also investigate on the feasibility of converting tobacco waste into reconstituted waste. Due to political disturbances in Kashmir, the project work at hotel Nedovs in Srinagar was suspended. The Bukhara restaurant was franchised to the Sheraton hotel in Hongkong also. 1990 - Refined mustard oil under the brand name REAL GOLD was introduced in the market. - On 1st April Tribeni Tissues Ltd was amalgamated with the Co. As per the terms of the merger, 5 equity shares of Rs.10 each of the company were issued at par without payment in cash for every six equity shares of Rs.10 each held in TTL. Accordingly, 105,95,070 No. of Equity shares were allotted to the shareholders of the erstwhile TTL. 1991 - The company entered into an agreement with MISR Import & Export Co. A.R.E Cairo, Egypt for the export of tea to Egypt on Commission at the rate of 3% payable in U.S. Dollars on the FOB/C&F value of each transaction. - Company proposed to enter and agreement with National Trading & Developing Establishment, Abu Dhabi for export of safety matches to UAE on commission at the rate of 3% on FOB value of each transaction.
- Company proposed to enter and agreement with a firm under the name of Jalil Rastar, Tehran, Iran for export of tea to Iran on commission at the rate of 5% on the FOB/C&F value of each transaction. 1992 - Since January there was labour unrest at Tribeni Tissues paper mill which led to a lockout at the mill with effect from 27th May. - On 8th April, ITC Global Holdings Pte. Ltd was incorporated in Singapore a wholly owned trading subsidiary of the Company. - During the same period a wholly owned subsidiary ITC Infotech Ltd. incorporated in UK with an authorised capital of US $ 2 million and paid up capital of US lakh. 1993 - The hybrid seeds business was being repositioned in the newly formed ITC Zere Co. Ltd., a joint venture paticipation with Zere Co. Plc of UK. - The Company successfully launched Hero brand Cigarettes. - During this period a finacial service division was formed. Companies Associated, ITC Classic Finance Ltd, proposed to enter a joint venture with Peregrine Group of Hong Kong through a new company, ITC Peregrine Capital Pvt. Ltd. to commence investment banking and brokerage services business. - In October the Company issued 45,00,000 Global Depository Receipts representing 45,00,000 ordinary shares. Three offered GDRs were to be issued with one warrent to subscribe for one warrant GDR upon payment of US $ 15.30. - Two new brands viz., `Classic Milds' and `Hero' were launched at the premium and small-length ends respectively.
1994 - Company propose to sell various edible oil brands to ITC Agro Tech Ltd. for a consideration of Rs.25 crores. - On 21st February Tiruvottiyur establishment resumed following a tripartie settlement. - 121,318,177 bonus equity shares issued in propn. 1:1, 2,85,550 No. of equity shares issued on conversion of 1,85,450 warrants. - Company introduced scissors standard. - ITC classic finance entered into arrangemnt for launching mutual funds ITC Classic Finance had set up a Company to enable operation in real estate and also a home finance Co. to provide finance to a range of buyers in the Commercial/Home Property markets. 1995 - Company introduced capstan Menthol filter, capstan standard and Bristo standared and re-designed Gold Flake Kings and Berkley Filter. Further, Gold Flake Lights in Kingsize was introduced into test markets. - The consideration of the edible oil business could not be completed due to adverse business conditions experienced by the ITC Agro-Tech Ltd. - During the year a new company ITC Classic Threadneedls AMC, a joint venture between ITC Classic Finance Ltd. and Threadneedle Asset Management was formed to launch a series of Mutual Funds. - 25,78,150 No. of Equity shares allotted on exercise of 12,89,075 warrants on payment of U.S. .30 per warrant.
1996 - Company purchased Mantralayam undertaking for a consideration of Rs.115.80 crores aganst settlement of all dues. The plant has since been licensed back to ITC Agro-tech for five years. - The Company has launched `Classic Ultra Milds' and `Wills Natural Lights' brands during the year. 1997 - ITC Classic Finance Ltd. was amalgamated with ICICI Ltd. - ConAgra Inc. U.S.A., invested in ITC Agro-Tech Limited by way of preferential allotment of over 51% equity, through its Mauritius based subsidiary, CAG-TECH Limited. - Having taken an in-principle decision to acquire the businesses, the ITC board has set up an internal committee to go into the nitty-gritty of the real estate business in CIDL. - City based Indian Tobacco Company workers will go on a day-long strike on December 26, in protest against the management's move to retrench 416 workmen from its cigarette manufacturing unit. 1998 - ITC Ltd has signed an agreement with National Securities Depository Ltd (NSDL) to get its securities admitted for dematerialisation. - ITC Ltd is one of the most liquid scrips in the capital market. liquidity in demat trading. With domestic
institutions having a considerable stake in this counter, this move is likely to improve
- ITC Ltd has undertaken a comprehensive exercise to restructure all its wholly-owned subsidiaries to align them with the four thrust areas viz., tobacco, hotels, paper and paperboards and printing and packaging. - ITC has nearly 105 subsidiaries, which are involved in various kinds of operations. 1999 - Tobacco gaint ITC has raised its stake in paper and paperboards subsidiary, ITC Bhadrachalam Paperboards, from 37% to 51% through a preferential allotment of equity shares. This follow the allotment, by the board of ITC Bhadrachalam Paperboards, of 1,91,20,000 No. of equity shares of Rs. 10 each for cash, at an issue price of Rs. 65 per share and 11% redeemable cumulative-preference shares of the face value of Rs 100 each, for cash, at par to promoter company ITC. - ITC will set up a new tobacco processing department (TPD) because the increased production will make it economical to process tobacco on site. - The Anaparti factory of ITC Ltd -- ILTD division, received the Rajiv Gandhi National Quality award for 1995. - Mr. K.S. Rao, Chief Executive of the ILTD division of ITC, received the award from the Union Minister for Chemical, Fertilisers, Food and Consumer Affairs, Mr. Surjit Singh Barnala, at Vigyan Bhavan. 2000 - ITC Infotech Ltd, the UK-based, wholly-owned subsidiary of the Company, and Compaq Computer (I) Pvt. Ltd. signed an MoU aimed at exploring business opportunities for deploying e-enabled solutions. - The Company has launched a project e-Choupal in Bhopal to Web-enable farmers to make a beginning in agricultural e-trade.
- ITC Ltd its entry into retailing business by launching branded leisurewear apparels as part of its diversification strategy into new areas. - The Company is hiving off its Infotech services businesses in India, the US and UK and merging them into a separate wholly-owned subsidiary. - The IT division has entered into agreements with Compaq and expand the IT business. - The company set up the Lifestyle Retailing Business Division. A strategic Business Unit for the greeting cards business was set up under the Packaging and Printing Division. - ITC has launched Wills Sport, a full range of internationally styled premium wear for men and women. - ITC Infotech Ltd., the recently-launched it subsidiary of ITC Ltd., has become one of the select software organisations in the world to achieve the distinction of being certified at Level-5 on the prestigious Capability Maturity Model. - Tobacco Company ITC launched a website, billed as `one stop terminus' for international customers of agricultural commodities. The website, ww.itcibd.com, will provide information on trading of key commodities. - The Company have set up units in the north-eastern States to avail of special incentives relating to Central excise duties. - On 21th August, ITC Infotech India Limited became a wholly owned subsidiary of the company. Ansal Hotels Limited became a subsidiary of ITC Hotels Limited effective from 12th July.
- The Board of the company has recommended an employee stock option scheme. - ITC Ltd. has proposed an Employee Stock Option Plan where ordinary shares up to 5 per cent of the issued and subscribed capital will be issued to employees. - Having carved a niche for itself by launching the first branded lifestyle apparel, Wills Sport, in Delhi in July 2000, the Lifestyle Retailing Business Division of ITC Limited has now big plans up its sleeve. - ITC Ltd, the Rs 8,816 crore cigarette and hotels company, has decided to merge its subsidiary, the Rs 623 crore ITC Bhadrachalam Paperboards Ltd, with itself. 2002 - ITC Ltd has informed that the Board of Directors, appointed Mr. J.B. Stevens as an Additional Non-Executive Director of the Company and the Board accepted the resignation of Mr. A.A. R. Rodrigures. 2002 - ITC Ltd has informed BSE that a large number of workmen have resumed work at the company's printing factory at Tiruvottiyur Chenna. - ITC Ltd, which has acquired a shade over 14 per cent in EIH Ltd, which owns the Oberoi chain of hotels. -ITC Ltd. has informed the Exchange that the Company on May 06, 2002 has allotted 20,96,982 Ordinary Shares of Rs 10/- each in the ratio of 1share of the company for every 16 fully paid up Equity Shares of Rs 10- each held in ITC Bhadrachalam Paperboards Ltd to the members of the ITC Bhadrachalam, in terms of the Scheme of Amalgamation of ITC Bhadrachalam with the company.
- ITC, Tobacco major, has launched Aashirvaad atta making its foray into Indian atta market. - ITC's greetings cards business and Maple Leaf have entered into Joint Venture where Maple Leaf will exclusively manufacture pop-up cards for ITC. - ITC Foods ands ITC Ltd, is finally foraying its way to the Rs 1,100 crore confectionery market. The foods division which has shifted office from Kolkata to Bangalore this month, has introduced its first confectionery product, acquired brand Minto in four cities. -ITC Greeting Cards Business (ITC-GCB), has forayed into stationery products segment with the launch of Expressions PaperKraft. -ITC Limited has taken over Wills brand. ITC had to acquire the Wills brand in the US, before it takes Wills merchandise to America. -ITC Ltd. has informed the Exchange that the company has acquired further 56,000 ordinary shares of Nepalese Rupees 100/- each of Surya Nepal Pvt. Ltd. (Surya Nepal), earlier known as Surya Tobacco Company (P) Ltd, a company incorporated under the laws of Nepal. -ITC Ltd has informed BSE that Industrial Development Bank of India ('IDBI') has appointed Mr T M Nagarajan, Deputy Managing Director IDBI, in place of Mr R Vasudevan. -ITC Board approves integration of Bhadrachalam Paperboards Division and Tribeni Tissues Division. - ITC Ltd International Business Division (ITC-IBD) has introduced an online auction platform called Tradersnet along with its web-based initiative Planternet. IDBI, on the Board of Directors of the Company w e f August 14, 2002, as Nominee Director representing
-ITC, now moves towards match business, it has diversified into the match business to earn more revenues from non-tobacco businesses. 2003 -ITC Ltd has informed to BSE that company's Spriha brand of natural incense sticks (Agarbathis) manufactured by Cottage Industries, a unit of the Sri Aurobindo Udyog Trust in Pondicherry was launched on February 21, 2003. -ITC on April 04, introduced salt in the staple segment, as part of its efforts to clock a Rs 500 crore sales in five years. Salt is the second offering from ITC Foods' staple business in the past 10 months, under the brand name of 'Aashirvaad'. -ITC group company, International Travel House (ITH), has divested 49 per cent equity in LeasePlan India to the Netherlands-based LeasePlan Corporation (formerly ABN AMRO Lease Holding NV), making it a wholly-owned subsidiary of the foreign company. -ITC Ltd has set up a Rs 227 crore modernised pulp mill at its Bhadrachalam works aiming to become the first producer of ECF PSP in the country. -ITC bags Golden Peacock award for cleaner tech -ITC has forayed into alliance with several state governments to take up afforestation programmes and in lieu get land from which it can source wood-based feedstock for its paperboard business. -ITC Ltd has informed that the Board of Directors of the Company at its meeting held on July 25, 2003 have noted the resignation of Mr T M Nagarajan, Nominee Director of Industrial Development Bank of India.
- Indian Institute of Management Calcutta (IIMC) has joined with ITC Ltd. to unveil annual business competition -Ideas to Imprementation (i2I). - NCDEX allies with ITC Ltd for data sharing. - Company issued & allotted 27792 Ordinary Shares of Rs 10 each, upon exercise of 27792 options by eligible employees under the ITC Employee Stock Option Scheme. - Consequently the issued & subscribed share capital of the company stands increased to Rs 247,54,85,090 divided into 24,75,48,509 ordinary shares of Rs 10/- each. - Bags Seagate Intelligent Enterprise of the Year award for the most innovative use of information technology - Commences commercial production of paper using the environment-friendly ECF (elemental chlorine-free) technology at its Bhadrachalam unit in Andhra Pradesh - Food wing of ITC eyes on 4 pc market share in biscuit market - The government has not taken up the Supreme Court's suggestion to arrive at a compromise formula with tobacco major ITC for settling the long-drawn-out excise dispute on the ground that it was not clear about the legal provisions under which it could do so. - ITC unveils new brand of agarbattis 2004 - ITC's Wills Lifestyle unveiled its fall/winter collection here on Jan 6. The collection, featuring Wills Classic formal wear, Wills Sport relaxed wear, Wills Clublife evening wear, and fashion accessories from Furla and Valentino from Italy, is available at ITC's Wills Lifestyle store near Nagarjuna Circle.
- ITC signs memorandum of understanding (MoU) with Andhra Pradesh government for wasteland development - ITC win Rs 5.80 cr grant from British challenge fund - Acquires paperboards business of M/s Bilt Industrial Packaging Company Ltd including its 65,000 MT per annum manufacturing facility at Thekkampatty Village, Coimbatore District, Tamil Nadu. - ITC Food launches a range of 'cooking pastes' under its ready-to-eat gourmet cuisine brand Kitchens of India and readymeal Aashirwad brand - Completes the process of acquiring the paperboard manufacturing facility of BILT Industrial Packaging Co Ltd. (Bipco) near Coimbatore in Tamil Nadu. The facility, renamed 'unit Kovai', will operate as part of the paperboards and specialty papers division of ITC, which has a unit at Bhadrachalam in Andhra Pradesh. - ITC unveils Sunfeast biscuits in Chennai - ITC ties up with Israeli firm for e-choupals - Crisil gives 'AAA(SO)' to PTCs of ITC - ITC Ltd's Internet-based rural project, `e-Choupal', has won the inaugural `World Business Award' instituted in support of the United Nation's Millennium Development Goals - The International Business Division (IBD) of ITC has bagged the Enterprise Business Transformation Award for its unique web-based initiative called eChoupal. The award
was announced in Shanghai as part of the Wharton Infosys Business Transformation Awards (WIBTA), for Asia Pacific. - The international business division of ITC forays into trading of organic farm products segment - Web based e-choupal programme of ITC bags inaugral 'World Business Award at International World Congress on June 8, 2004. - ITC introduces new special incense gift packs in Bangalore 2005 - ITC Ltd becomes one of the very few companies in India to obtain the coveted Quality Management System certification ISO 9001:2000 for investor servicing. - ITC Ltd wins 'Golden Peacock Global Award for Corporate Social Responsibility (CSR) in Emerging Economies for 2005'. - ITC Ltd signs an MoU with Tripura Government for a bamboo development programme. - ITC unveils new `5-in-1' agarbattis - ITC unveils `Expressions Regalia' - ITC e-Choupal gets Development Gateway Award - ITC unveils Candyman Cofitino
2006 - ITC forges alliance with Tilda for DNA-tested basmati - ITC ties-up with Marubeni for food biz 2007 - ITC Ltd. has informed that the Board of Directors of the Company at the meeting held on July 27, 2007, appointed : (i) Mr. A. Baijal, IAS (Retd.), as an Additional Director of the Company, representating the Specified Undertaking of the Unit Trust of India (SUUTI), (ii) Mr. D. K. Mehrotra, Managing Director - Life Insurance Corporation of India (LIC) as an Additional Director of the Company, representing LIC, (iii) Dr. R. K. Kaul, General Manager - National Insurance Company Limited, as an Additional Director of the Company, representing General Insurers' (Public Sector) Association of India, (iv) Mr. P. B. Ramanujam, as an Additional Non-Executive Independent Director of the Company, and (v) Mr. S. B. Mathur, as an Additional Non-Executive Independent Director of the Company. ITC acquires Australian agri-biotech co.
Profit Growth Chart of last five years of company is as follows : Dabur India
400 350 300 250 200 150 100 50 0
373.55 316.77 252.08 148.02 189.08
2007 year profit
Different Types Stock Charts of Dabur India Ltd. For Second Quarter of 2009
In the above line chart of Dabur India Ltd we have seen that the trend is going to the upward till first week of august and after that there is huge down trend where the volume shows the good amount of buying but because of divergence the trend line contradict itself . We have even seen the Descending Triangle Pattern, which we have seen in the month of July and even in the month of August there is a Rounding Bottom Situation.
In the above Candle Stick Chart of Dabur India Ltd. we have come across with the Reversal Head and Shoulder Pattern which concludes that the support is 120 and the resistance level is at 140. Hear, we even want to say that the exponential moving average has shown upward trend till the month of August and then, when there is negative divergence the exponential moving average is also following down.
In the above Bar Chart of Dabur India Ltd. we have seen the symmetrical triangle in figure above is a pattern in which two trend-lines converge toward each other. This pattern is neutral in that a breakout to the upside ordownside is a confirmation of a trend in that direction.
Profit Growth Chart of last five years of company is as follows : 77
200 180 160 140 120 100 80 60 40 20 0
178.85 124.61 139.51 89.82 131.42
2007 years profit
Different Types Stock Charts of Proctor & Gamble For Second Quarter of 2009
In the above chart of P & G we have noticed that the flow of trend is going upward but the rate of flow of upper trend is quit slow in the beginning of July then it falls in the first week of August and then again it raise upward due to buying pressure which we have noticed in the volume and it goes to the 1600 mark and again come to 1450 due to divergence.
A rounding bottom chart pattern looks similar to a cup and handle pattern but without the handle. The long-term nature of this pattern and the lack of a confirmation trigger, such as the handle in the cup and handle, make it a difficult pattern to trade. In the above Candle Stick Chart of P&G in the month of August there is a Rounding Bottom Pattern. And whenever there is rounding bottom pattern the future trend must be upward in nature or else we can say that it is a long term reversal pattern that signals a shift from a downward trend to an upward trend. We have also noticed that during the month of July and August there is very lower amount of divergence but in the month of September there is a good amount of divergence and also the share price of company is also going upward. So there must be a co-relationship between them.
In the Bar Chart of P&G we have noticed the same patterns which were in the previous charts of P&G.
Profit Growth Chart of last five years of company is as follows : Nestle
600 500 400 300 200 100 0 2005 2006 2007 years profit 2008 251.92 309.57 315.1 413.81
Different Types Stock Charts of Nestle India Ltd. For Second Quarter of 2009
In the above Line Chart of Nestle India Ltd. we have seen the pattern of ascending triangle in which the upper trend line flat and while the bottom trend line is upward sloping this is generally thought of as a Bullish Pattern. The Moving Average and exponential are going simultaneously. But when there is rise of diversions there is a gap between Moving Average and exponential. And even we have noticed that the trend of the share price is upward perhaps there is lower amount of volume in the month of August and September.
In an ascending triangle, the upper trendline is flat, while the bottom trendline is upward sloping. This is generally thought of as a bullish pattern in which chartists look for an upside breakout.
This responsiveness is one of the key factors of why this is the moving average of choice among many technical traders. As you can see in figure below, a 15-period EMA rises and falls faster than a 15-period SMA. This slight difference doesn’t seem like much, but it is an important factor to be aware of since it can affect returns.
Profit Growth chart of last five years of company is as follows :
3,500.00 3,000.00 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00
2,699.97 2,191.40 2,235.35
2007 years profit
Different Types Stock Charts of ITC For Second Quarter of 2009
In the above Line Chart of ITC Ltd. we have noticed that there is high amount of volatility in the stock price and at the same time there is high amount of volume in the month of July and even when the divergence are in the positive numbers the Simple Moving Average is above the Exponential. But when there is a negative divergence it has totally get reversed which we can see in the month of August.
In the above Candle Stick Chart of ITC Ltd. we have noticed that there is a pattern of Head and Shoulder where head is in the end of July and the necklines are in the middle of July and middle of August. In this pattern the neckline is a level of support but there may be a trend reversal in which the support turned in to resistance. So there must be a new support line and the trend is going to be downward in the near future.
In the above Bar Chart of ITC Ltd. we have observed that there is pattern of Descending Triangle which we have drawn in the chart which shows that there is a general bearish pattern from which we look for a downside breakout. And also we have noticed that there is high amount of selling of stocks in the month of September. There is one top which is 250 in the end of July and after that it never comes again. So we consider that as a resistance and there is support line which is at 220.
Though Technical Analysis is considered more of an art rather than science and from academic perspective it might not have got the due recognition but it has been found that if used with a discipline it can serve as a complementary tool to fundamental analysis i.e. fundamental Analysis can be used for making Buy/Sell decision whereas Technical Analysis can be used for deciding a right time to buy/sell. From our study of Technical Analysis we conclude that Dabur India Ltd has shown a trend reversal pattern and somewhere it even shows continuation pattern. Noticed that there is a Descending Triangle Pattern and at the same Time Rounding Bottom is also there. So basically it will be growing in the near feature. As we even noticed that there is a Reversal Head and Shoulder Bottom also known as inverse head and shoulder is used to signal a reversal in down trend In the case of P&G it normally shown the continuation pattern by showing Rounding Bottom. We even noticed that in the beginning of the two months there is low amount of volume and because of no divergence the share price not show good result. In the case of Nestle India Ltd. we have noticed that there is continuation pattern in which we had identified the Ascending Triangle Pattern which generally thought of a bullish pattern. We have identified rounding top which even shows the reversal trend and a sign of good future market. In the case of ITC Ltd. initially we have found that there is reversal pattern in which we identified the Head and Shoulder Top. But later we analysed that there is continuation pattern in the middle of the August. All and above ITC Ltd. shows bullish trend in the beginning month but later on it comes to bearish or there is a reversal pattern where the support line is turned in to resistance line. So in the near future the price of stock will fall.
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C.Kevin F.M. Pandey Ahuja Edwards. Rpberts D. and Magee, John.
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