ITC is among the top five losers on the BSE today, falling down to a new low at Rs.205. Volumes have jumped up over 2.5 times.
The stock fell on the back of the Budget wherein, like always it hiked the excise duty on cigarettes. The Budget increased the excise duty on cigarettes at an average of 6-12% based on the sizes.
The duty on bidis has not been hiked.