Monday 9 May 2016

ITC to resume cigarette production in phases; stock up 2%

The company had shut production on May 4, saying it was not in a position to comply with the Supreme Court order.

With referene to the letter dated May 05, 2016, ITC Ltd has announced that the cigarette factories are commencing production in a phased manner with the specified 85% graphical warning pending hearing by the Karnataka High Court.

Report says that the new packs will have just 15% of the total area for branding and printing other details such as name of the factory, price and date of manufacturing 
On May 4, the company had shut production, saying it was not in a position to comply with the Supreme Court order. 

The stock was up by 2% at Rs. 323.

The stock has hit a high of Rs. 324 and a low of Rs. 320.

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