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The chief of one of Indias largest private sector conglomerates said the company expects cigarette business volume will recover in 2021 due to stable taxation, though it may scale down the lifestyle retail business due to lack of synergies.
The chief of one of India's largest conglomerates said in an interview that the Indian economy has bounced back ahead of expectation and private investment is likely to pick up pace soon with the government providing enabling factors.
Cigarette business' earnings before interest and tax fell 8.7 percent year-on-year to Rs 3,658.65 crore in Q3FY21.