Mumbai: Shares of cigarette-to-consumer goods conglomerate ITC closed at a three-year low on Friday, extending losses to a second straight session after most brokerages downgraded the government following the government’s announcement of an additional excise duty on tobacco products with effect from February 1. The stock fell 3.8% to ₹350.1 on Friday after falling almost […]
Shares of tobacco stocks such as ITC and Godfrey Phillips fell as much as 19% on Thursday morning after the Treasury Department notified February 1 as the effective date for imposing additional duties on tobacco products. ITC shares fell 10% to an intraday low of Rs 362.7, while Godfrey Phillips fell 19.2% to Rs 2,230.15 […]