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ITC hikes prices of two cigarette brands

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. - Index closes below 17,000 - Bhupesh Bhandari: The reign of rural retail">Bhupesh Bhandari: The reign of rural retail - Amway eyeing Rs 1,400 cr revenue - Dabur alleges US firm of infringing on its trademark - HUL launches Pureit Autofill water purifier - Godrej strengthens roots in villages with regional ads Sources said the company had 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 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.


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