ITC plans stock option

NEW DELHI, SEPT 2: ITC Ltd is mulling an employee stock option scheme. The scheme will be put up before the ITC board at the next meeting and may be emulated by ITC subsidiaries. quot;We are exploring a number of new management practices and an employee stock option sceheme is on the cards,quot; ITC chairman YC Deveshwar told reporters.

ITC is also scouting for acquisitions in the four core areas of business identified for growth by the Rs 7,585 crore tobacco giant. The areas are cigarettes and tobacco, hotels, paper board and packaging.

quot;ITC is interested in acquisitions in all these areas, and are currently looking for acquisitions in the paper business. We have identified these four areas where we can be globally competitive, and growth in these areas can come organically or through the acquisitions route,8221; Deveshwar said after a Ficci meeting.

A subsidiary of ITC, Rusell Credit, is acquiring a 51 per cent stake in Rollatainers, one of the country8217;s largest paper packaging companies.