Company updateBusiness Today
ITC shares rise 2% on Gold Flake Premium rate hike
Positive+302 sources
GreyOak summary
ITC Ltd shares gained 2% after reports indicated an 8% price hike for Gold Flake Premium cigarettes, raising the MRP to Rs 135. This marks the second increase this year as the company attempts to counter illicit trade and manage tax pressures. While the cigarette business saw a 27.2% profit decline, the FMCG segment reported its strongest revenue growth in 14 quarters.
What it affects
- ITCPositive +30
Shares rose 2% on cigarette price hike.Rolling sentiment Negative -15
Source
Read the original at Business TodayMore ITC news
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