ITC Ltd.

ITC has reportedly hiked prices of cigarettes by up to 20%. The company has hiked prices to off-set impact of excise duty hikes. Last month, excise duty on cigarettes was hiked ranging from 15 per cent on the cigarettes length of 65mm and above to 25 per cent for the cigarettes of length less than 65 mm in the Union Budget.

Apart from that the diversified conglomerate ITC is scouting for more acquisitions to scale up its non-cigarette fast-moving consumer goods (FMCG) business, as it expects cumulative brand turnover from this segment to increase to Rs 15,000 crore in the next two-three years.

ITC has business a 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.