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.
Company Name | CMP |
---|---|
ITC | 441.20 |
Godfrey Phillips | 3912.15 |
VST Industries | 4010.00 |
The Indian Wood Pro. | 29.38 |
Golden Tobacco | 37.28 |
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