ITC to resume cigarette manufacturing; share up two pct

New Delhi : The shares of Indian conglomerate ITC jumped over two percent intraday on Monday as the company announced to resume manufacturing of cigarettes at its factories soon.

The FMCG major had suspended cigarette manufacturing from April 1 over large pictorial warning issue.

In a BSE filling today, the company said “Consequent upon a High Court order passed in favor of the company, the company will soon resume manufacturing of cigarettes at its factories.”

The Kolkata-headquartered firm had suspended manufacturing at all its five cigarette factories, saying there was lack of clarity in policy regarding printing of larger pictorial warnings on the packets.

ITC manufactures a range of cigarette brands, including India Kings, Classic, Gold Flake, Navy Cut, Capstan, Bristol, Flake, Silk Cut, which are manufactured at plants in Bengaluru, Munger, Saharanpur, Kolkata and Pune. ITC’s smaller rival Golden Tobacco has already decided to resume production. (ANI)