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ITC shareholders have seen nearly Rs 1 lakh crore wiped off the company’s market value in about a month, as the stock corrected nearly 20% after a sharp hike in cigarette tax announced in late December. The sell-off has made one of India’s most widely held defensive stocks a major Budget talking point, with investors […]
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 […]
