Shares of index heavy-weight on the BSE, ITC fell over 2 per cent on Wednesday after reports that the company will create a new brand to foray into fresh vegetables domain.
Following the development, the stock lost 2.18 per cent to Rs 271.50 on BSE. It opened at Rs 277.65 and touched an intraday high and low of Rs 277.65 and Rs 271 respectively.
According to reports, ITC is likely to enter the market with fresh potatoes, a first-of-its-kind in India, followed by some more fresh vegetables. The company is also planning to launch fruit pulps and juices in order to become the top food company in India.
For the quarter ended June 30, 2017, the company reported total revenue at 13,800.42 crore and net profit stood at 2,560.50 crore.
