New Delhi: FMCG major ITC, the largest
player in the domestic cigarette market, has increased prices
of two of its brands, India Kings and Benson & Hedges, by Rs
10 and Rs 5 respectively.
Sources said that the company has increased the maximum
retail price of a pack of 20 sticks of India Kings to Rs 110
from Rs 100. It has also hiked the price of a pack of 20
sticks of Benson & Hedges to Rs 105 from Rs 100.
According to the industry analysts, the total market for
branded cigarettes in India is around Rs 20,000 crore and ITC
with a portfolio of popular brands like Insignia, India Kings,
Classic, Gold Flake, Silk Cut, Navy Cut, Scissors, Capstan,
Berkeley, Bristol and Flake, has around 80 per cent share of
the market.
When contacted ITC spokesperson confirmed the price hike
but declined to provide further details.
ITC reported a revenue of Rs 4,183 crore through sale
of cigarettes in the July-September quarter this fiscal.
The company in the last financial year posted a revenue
of Rs 15,115 crore from the cigarette business.
Bureau Report
First Published: Wednesday, November 18, 2009, 20:22