Cigarette-maker, ITC Ltd has hiked price of its three popular mid-range brands, ‘Bristol’, ‘Flake Excel’, and ‘Capstan.
The Kolkata-headquartered company has increased prices between 6 per cent and 15 per cent.
According to market sources, price of Bristol has gone up by 6.7 per cent; that of Flake Excel by 11 per cent and that of Capstan by 14.5 per cent.
“Prices of a few select brands have been marginally revised,” an ITC spokesperson said.
According to Abneesh Ray, Senior Vice-President, Institutional Equities, Edelweiss Securities, distributors have confirmed price hikes. These price hike will help in recouping the margin miss seen in the past few quarters.