ITC’s cigarettes business lit up Q1 results but cess hike a wet blanket

ITC Ltd’s June quarter results give an idea of what might have been had the government not sharply hiked the cess on cigarettes. Cigarette sales rose by 6.6% from a year ago, while this segment’s profit rose by 9%. This was in a period when destocking by dealers led to most consumer companies reporting lower […]

Deutsche Bank launches $8.5 billion capital hike amid heavy restructuring

Deutsche Bank plans a significant capital hike alongside the flotation of its asset management holding and further restructuring from asset disposals, Germany’s biggest lender said on Sunday. The €8 billion ($8.5 billion) capital raise will be launched on March 21, the bank said in a statement, and undertaken via the issuance of new shares with […]