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ITC rules out immediate price increase on food items

13 Jul 2011 Evaluate

ITC, multi-business conglomerate that makes food products under brands such as Sunfeast and Bingo expects increase in raw material prices by around 3% in the next 2-3 months, but ruled out any major price hike for consumers.

The company believes that at present raw material costs are under control but value added tax (VAT) on food items is a cause of concern. The company does not expect any great increase in prices barring a few exceptions, 90% of its products will not be impacted in terms of price hikes.

Recently ITC's Paperboards and Specialty Papers Division (PSPD) was likely to expand its manufacturing capacity by one lakh tonne per annum at an investment of Rs 600 crore. Due to improved market conditions and cost cutting measures the division is also anticipated to advance its bottom line in the current fiscal.

ITC Share Price

302.10 3.45 (1.16%)
15-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ITC 302.10
Godfrey Phillips 2092.55
VST Industries 237.80
The Indian Wood Pro. 33.13
NTC Industries 157.95
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