Expressing happiness over the move, Rao said his government is ready to provide adequate land for establishing the plant, the release from Chief Minister's Office said.
Diversified group ITC today expressed willingness to set up a paper manufacturing unit in Telangana with an investment of Rs 3,500 crore.
This was conveyed by top officials of ITC to Telangana Chief Minister K Chandrasekhar Rao during a meeting here, said an official release.
Expressing happiness over the move, Rao said his government is ready to provide adequate land for establishing the plant, the release from Chief Minister's Office said.
Microsoft India Chairman Bhaskar Pramanik, who also met the Chief Minister, said the company would like to expand its activities in the newly-created State, it said.
Hinduja Group Chairman Ashok Hinduja also called on Rao. Noting that the Telangana government is in the process of formulating an industrial policy, the Chief Minister said he would interact further with the industrialists after the policy is ready, the release added.
Also read: Positive Packaging deal EPS accretive, debt-free: Huhtamaki
ITC stock price
On July 14, 2014, ITC closed at Rs 345.10, down Rs 0.95, or 0.27 percent. The 52-week high of the share was Rs 386.75 and the 52-week low was Rs 285.40.
The company's trailing 12-month (TTM) EPS was at Rs 11.04 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 31.26. The latest book value of the company is Rs 33.01 per share. At current value, the price-to-book value of the company is 10.45.
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