ITC will hold its first-ever analyst meet (a long-standing investor demand). "In our view, this step by ITC to become more investor friendly and catch up with best practices of its peer set is welcome," said Edelweiss Securities.

"We outline 14 questions that investors should ask ITC at the meet on December 14," the domestic brokerage said.

The questions are:

1) ITC has been very aggressive in seeking approval for PLI in foods. What is the plan?

2) Among new FMCG categories, what are the priorities, must-win categories, key focus areas and growth drivers

3) ITC’s FMCG margins are still lower than its peers. When do margins begin to touch the mid to high teens?

4) What will the M&A strategy be, especially in FMCG, D2C brands?

5) Plans on e-commerce scale-up

6) In terms of the FMCG business, is the peak investment cycle behind?

7) How is the company competing in cigarettes against Marlboro?

8) What is plan for customer acquisition, mix change and dealing with illegal cigarettes?

9) Views on likely recommendations by expert panel on taxes on cigarettes and bidis

10) How are the e-choupals faring, and what is the strategy thereof?

11) What are the plans of scale-up and demerger pertaining to the hotel and tech business?

12) Now that FMCG business is cash flow positive, is demerger a possibility?

13) How is rural demand shaping up?

14) Considering ITC’s huge cash reserves, is a share buyback a possibility?

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