Brokerages bearish on ITC as excise duty on cigarettes may hit earnings growth, slash target prices by up to 34%

The sharp selloff has wiped off around Rs 72,000 crore from the company’s market capitalization in just two days.

ITC shares fall 10%, Godfrey Phillips down 19% as govt imposes new excise duty on cigarettes

In December, the government approved a new law - the Central Excise (Amendment) Bill 2025 - that replaces a temporary levy on cigarettes and tobacco products.

ITC, Godfrey Phillips shares tank up to 19% as govt announces excise duty on cigarettes effective February 1

Shares of cigarette companies ITC and Godfrey Phillips slumped up to 19% in Thursday's trade (January 1), after the ...

Largest Indian Cigarette Maker ITC Plunges on Higher Tobacco Tax

Shares of ITC Ltd. plunged the most in nearly six years after a higher levy on tobacco products by the government fueled ...

Excise duty impact: ITC shares slip to lowest levels since Feb 2023; Rs 49K cr m-cap gone

The ITC stock eventually settled at Rs 363.95, down 9.69 per cent. The company’s market capitalisation declined Rs 48,925.59 ...
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ITC shares lose nearly ₹70,000 crore in market cap after two-day fall extends to nearly 15%

A large trade also took place in ITC earlier in the day where over 4 crore shares changed hands in the transaction. The ...

India’s ITC Sheds $7 Billion as ‘Tax Shock’ Triggers Rating Cuts

India’s largest cigarette maker ITC Ltd. wiped out about $7 billion in market value after a government tax hike on tobacco ...

ITC shares plunge 3.8% as brokerages slash targets after unprecedented cigarette tax hike

ITC shares drop 3.8% as brokerages cut targets following a significant cigarette tax hike, marking a 28.44% annual decline.

ITC hit by cigarette tax shock! Brokerages downgrade stock as hike darkens outlook. Should you buy, sell or hold?

ITC shares plummeted to a three-year low following a surprise government hike in cigarette excise duties. Brokerages have downgraded the stock, citing concerns over volume and margin pressure due to ...

ITC shares crash 10% to near three-year low on higher tobacco tax: Should investors consider buying the dip?

ITC shares plunged 10% to their lowest level since January 30, 2023, on an intraday basis to ₹362.70. The Bloomberg report ...

ITC shares plunge most in six years after India raises tobacco, cigarette tax

ITC might need to hike prices by “at least 15%” to pass on the overall impact to consumers, if not higher. ITC gets over 40% ...