NEW DELHI: Shares of ITC Ltd jumped over 2% in morning trade after the leading cigarette maker increased the price of three brands - Bristol, Flake Excel and Capstan.
At noon, ITC shares were trading at ₹286.80, up by 1.47%, on the BSE. After opening at ₹284.50, ITC shares touched a high of ₹288.90 during the day.
On NSE, the shares were trading at ₹287.65, up 1.8%.
The Kolkata-headquarted company has increased its prices by about 7% to 14%, PTI reported. "Prices of a few select brands have been marginally revised," a company spokesperson said.
Price of Flake Excel has been hiked by 11%, Bristol by 6.7% and Capstan by 14.5%.
These three brands together contribute around 10% to 13% of total cigarette sales of ITC.