No decision to hike prices of non-filter Cigarettes: ITC

Kolkata, Apr 13 Although the Budget has brought the excise duty on non-filter Cigarettes on par with filter Cigarettes, ITC Ltd is yet to take a decision on hiking the prices of the former.

Kolkata, Apr 13 Although the Budget has brought the excise duty on non-filter Cigarettes on par with filter Cigarettes, ITC Ltd is yet to take a decision on hiking the prices of the former. Asked whether the company was contemplating hiking the prices of non-filter Cigarettes, an ITC spokesman told PTI "no decision has been taken as yet". Sources said that the twin incidence of VAT and increased excise duties on Cigarettes was having a negative impact on the sales volume. The non-filter cigarette portfolio of ITC consists of Bristol Standard, Scissors Standard, Berkeley Standard and Capstan Standard. Equity research analysts tracking ITC were of the view that the company might go for conversion of non-filter Cigarettes to filter Cigarettes to avoid a price hike. A price hike in non-filter Cigarettes would make it uncompetitive vis-a-vis filter ones. (Agencies) Published: Sunday, April 13, 2008

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