ITC trades with traction on the buzz of hiking select cigarette brands’ prices

             The scrip opened at Rs. 299.55 and has touched a high and low of Rs. 305.70 and Rs. 298.00 respectively. So far 133929 shares were traded on the counter.
             The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 310.75 on 04-Feb-2013 and a 52 week low of Rs. 224.25 on 08-May-2012.
             Last one week high and low of the scrip stood at Rs. 305.70 and Rs. 281.15 respectively. The current market cap of the company is Rs. 240689.84 crore.

The Institutions and Non-Institutions held 52.48% and 47.22% stake in the company, respectively.

             ITC reportedly has increased prices of select cigarette brands. The company has hiked the prices of Wills Navy Cut by Rs 10 for the pack of 10 while, increased the prices of Gold Flake Kings by Rs 20 for the pack of 20. The prices have been hiked mainly to offset the effect of higher VAT and excise duty on cigarettes.

             Earlier in this month, the company had hiked the prices of Classic and Kings Cigarette by Rs 20 for the pack of 20.

             ITC is 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. [via]
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