ITC, the country’s largest cigarette-maker would take a 10 to 12% price hike for the year as the Union Budget has hiked the excise duty on cigarettes ranging from 15 per cent on sticks with length of 65 mm and above. Moreover, excise duty hike of 25 per cent has also been proposed on cigarettes of length less than 65 mm.
ITC, a diversified conglomerate has business interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
