ITC shares surge after it raised Gold Flake prices: UBS
"ITC has raised prices for Gold Flake King-Size (GFK) from Rs 136 to Rs 150 (pack of 20)," UBS said.
September 02, 2013 / 16:33 IST
Shares in ITC gain 4 percent after the company raised prices of a key cigarette brand, UBS says.
"ITC has raised prices for Gold Flake King-Size (GFK) from Rs 136 to Rs 150 (pack of 20)," UBS said in a note to its clients on Monday.The bank adds this price increase will add 1 percent to cigarette revenues and 2-3 percent to the segment's operational profit, all else remaining unchanged.A company spokeswoman was not immediately reachable for comment.Also Read: BSE Sensex eyes 19000; metals & FMCG support, ITC up 5% Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
