Reuters Market Eye - Shares in ITC
While no ad valorem duty is seen as a positive, Goldman Sachs says ITC will likely need to increase prices by 15-25 percent to generate operating profit growth similar to the historical trend.
The investment bank sees the prospective price increases likely impacting volumes.
"We now estimate a volume decline of 1 percent y-o-y and overall price increase of 17 percent y-o-y in FY14," Goldman Sachs says in a report.
(Reporting by Abhishek Vishnoi)