ITC ups Price of Classic, Gold Flake Kings Cigarette Brands

Source from:  Money Control 03/23/2016

Get ready to shell out more for your cigarettes because ITC, the country's largest cigarette maker has hiked prices of some cigarette brands. The hike is for two of its flagship brands Classic and Gold Flake Kings.

The company has decided to pass on the 10 percent excise duty hike that was announced in the Budget in February. The price hike will be effective all over India in a phased manner.

The hike will be in a range of 12-13 percent. So a pack of 10 cigarettes will now cost about Rs 123 from Rs 109 earlier while a pack of 20 cigarettes would now cost Rs 246, instead of Rs 218.

According to analysts, the price hikes could impact cigarette volumes but not significantly. There has been no price hike on other brands of ITC. Enditem