ITC hikes prices of Navy Cut and Gold Flake

Per-packet price for both brands raised by Rs 11, no reason given for hike

Cigarettes to FMCG major, ITC Ltd has raised the prices of two of its bestselling brands -- Gold Flake and Navy Cut.

Both these brands which sold at Rs 78 and Rs 79 (depending on VAT) have now been priced at Rs 89 and Rs 90 for a pack of 10.

When asked, an ITC spokesperson said, "Prices of selected brands have been increased". However, the person did not give any reasons for the price hike.

The company's trade channel is of the view that the price hike by ITC for selected brands is in anticipation of higher taxes which can be imposed on tobacco in the forthcoming Union Budget.