ITC has increased price of Bristol cigarette by 15% to Rs 45 per pack. Recently, the company increased price of Wills navy cut cigarette by 17%. Following the price-hike, the 20-stick packet of the Navy Cut brand is priced around Rs 138.
In the fiscal year 2013-14, the company has taken above 18% average price increase across its cigarette brands after the government raised excise duty in Budget 2013-14 and consequently some states increasing their VAT rates.
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.
