Latest Updates Around The World
Domestic brokerage firm Nuvama Institutional Equities has downgraded ITC shares from buy to hold, warning that a very sharp hike in cigarette taxes is likely to force price hikes of at least 20% for key brands from February.Nuvama has also sharply downgraded tobacco, arguing that the government’s latest move marks a clear break from the […]
The Finance Ministry’s announcement on the sharp increase in cigarette duties is “clearly negative” for ITC in the short term, Jefferies warned. This signals a significant hit to volumes and profits, even as the company remains positive on the stock.Jefferies describes this move as “a meaningful negative surprise for the legal cigarette industry,” estimating that […]
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 […]
Shares of ITC LTD, one of the largest cigarette manufacturers in India, will be in Focus on Thursday 4 September, after the GST Council had clarified that the current 28% GST Plus compensation structure on tobacco products will continue until compensation-related loans will be fully refunded. After that, a revised 40% GST plate is introduced […]
