ITC plans foray into snacks market; Launches Bingo
March 15th, 2007
ITC Limited is planning a foray into snacks market and will be investing about Rs. 350 crores in the next three to four years as per a leading business daily. The ITC Foods Division has launched Bingo brand of snacks in 16 flavors. The company is planning to grab 25% of market share in this segment in four to five years time.
Currently, Lays and Kurkure dominate the modern snacks market while Halidrams dominate the traditional snacks market. Growing income levels and appetite for ready made foods by people living in urban regions would make the snacks market to be doing well in the next few years.
On the NSE, ITC closed yesterday at 142.90, opened today at 145.00 saw an intraday high of 150 and is currently trading at 149.10
Leave a Comment
Some HTML allowed:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>