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Tag: ITC stock crashes

LIC’s losses widen to Rs 10,445 crore in ITC in two days as shares plunge 13% after tax hike
Stock Market

LIC’s losses widen to Rs 10,445 crore in ITC in two days as shares plunge 13% after tax hike

India’s largest institutional investor Life Insurance of India (LIC) has lost Rs 10,445 crore in just two days on its investment in blue-chip stock ITC, which plunged 14% after the government announced a revised excise duty structure on cigarettes.LIC’s stake in ITC stood at 15.86% (199 crore shares) at the end of the September quarter. […]

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Rs 50,000 crore disappeared as ITC shares crashed 10%, the worst day in six years. Should Investors Buy the Fear?
Stock Market

Rs 50,000 crore disappeared as ITC shares crashed 10%, the worst day in six years. Should Investors Buy the Fear?

Shares of India’s largest cigarette maker ITC suffered the steepest one-day decline in almost six years on Thursday, with shares plunging 10% and wiping out more than Rs 50,000 crore in market capitalization after the Finance Ministry imposed a steep new tax on cigarettes late on Wednesday.The stock tumbled to a fresh 52-week low of […]

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