India: ITC Raises Price of Bristol Packet by 15%, Shares up 1%

Source from:  moneycontrol.com  01/15/2014

Shares of ITC gained as much as 1.36 percent in morning trade on Tuesday as reports suggest that it has increased Bristol cigarette price.

ITC raised Bristol cigarette price by 15 percent to Rs 45 per pack of 10 sticks, reports CNBC-TV18 quoting unnamed sources. Earlier a packet of 10 Bristol stocks costed Rs 38.

ITC is the market leader in cigarettes in India and sells cigarettes under several brands like Insignia, India Kings, Lucky Strike, Classic, Gold Flake, Navy Cut, Players, Scissors, Capstan, Berkeley, Bristol, Flake, Silk Cut, Duke and Royal.

The company has consistently been raising product prices. On December 31, it had increased Wills Navy Cut cigarette price by 17 percent to Rs 69 for 10-stick pack and Rs 138 for 20-stick pack.

The company on December 30 hiked Gold Flake Sleek Line Kings cigarette price by 9.1 percent to Rs 120 for 16-stick pack.

ITC also hiked some cigarette prices by Rs 4-5 per pack of 10 sticks on November 27, 2013. Flake Excel cigarette price was increased by Rs 4 per pack of 10 sticks while Capstan and Flake Filter cigarettes prices by Rs 5 each per pack of 10.

In December, the company launched new cigarette in Gold Flake range. It priced Gold Flake Greece at Rs 180 per pack of 20 sticks.
 
At 10:01 hours IST, the stock was trading at Rs 327.70, up 0.6  8 percent on the BSE. Enditem