ITC will soon hike cigarette prices by up to 15%
14 March 2015 1:46 AM GMT
Leading conglomerate ITC will soon increase prices of cigarette brands like Classic and Gold Flake Kings by up to 15 per cent per pack following the hike in excise duty on cigarettes in the Budget 2015-16.
According to sources, Gold Fake regular is likely to be priced at Rs 78 for a pack of 10 cigarettes as against Rs 68 now, up 15 per cent, while Navy Cut brand is likely to be priced at Rs 78 for packs of 10 cigarettes pack, up 12 per cent from Rs 70 now.
ITC is India's largest cigarette manufacturer.
ITC's cigarettes with revised prices are expected to hit market by end of the next week.
Classic 20-cigarettes pack will cost Rs 218, an increase of 15 per cent from Rs 190 at present and India Kings is expected to cost Rs 250 for a pack of 20 cigarettes as against Rs 220, up 14 per cent.
When contacted, ITC spokesperson said: "We do not give any guidance on future pricing strategies."
According to sources, Gold Fake regular is likely to be priced at Rs 78 for a pack of 10 cigarettes as against Rs 68 now, up 15 per cent, while Navy Cut brand is likely to be priced at Rs 78 for packs of 10 cigarettes pack, up 12 per cent from Rs 70 now.
ITC is India's largest cigarette manufacturer.
ITC's cigarettes with revised prices are expected to hit market by end of the next week.
Classic 20-cigarettes pack will cost Rs 218, an increase of 15 per cent from Rs 190 at present and India Kings is expected to cost Rs 250 for a pack of 20 cigarettes as against Rs 220, up 14 per cent.
When contacted, ITC spokesperson said: "We do not give any guidance on future pricing strategies."
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