The scrip is said to have slipped on reports that global cigarette major Philip Morris had launched the premium Marlboro brand in India.
ITC earns a major part of its revenues through cigarette sales and Marlboro will offer stiff competition to the company.
ITC reported a 12.3 per cent growth in net profit at Rs 42.78 crore for the second quarter ended September 2003, compared to Rs 38.05 crore in the corresponding quarter last year. ITC
