ITC slides as Marlboro is launched

Dalal Street Spikes

 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