The stock has tanked over 9 percent in the last two days following buzz of ban on sale of loose cigarettes in Maharashtra.
ITC has plunged to a fresh 52-week low of Rs. 301 in trades today amid buzz of likely ban on sale of loose cigarettes in Maharashtra.
According to media reports, following the Budget proposals
Maharashtra government is looking to implement the ban on sale of loose cigarettes and chewing tobacco in public places. Reports add that Chandigarh recently became the first state to implement ban the sale of loose cigarettes.
The stock is now down 4.3 percent at Rs. 305. The counter has seen over three-fold jump in volume with trades of around 1.8 million shares as against the two-week daily average volume of around 581,000 shares on the BSE. In the process, the stock has slumped 9.3 percent in the last two trading days.
Another Cigarette-maker, Godfrey Philips too is trading with a loss of over 3 percent at Rs. 494. Meanwhile, the Sensex has tanked 342 points to 26,847.
ITC has plunged to a fresh 52-week low of Rs. 301 in trades today amid buzz of likely ban on sale of loose cigarettes in Maharashtra.
According to media reports, following the Budget proposals
Maharashtra government is looking to implement the ban on sale of loose cigarettes and chewing tobacco in public places. Reports add that Chandigarh recently became the first state to implement ban the sale of loose cigarettes.
The stock is now down 4.3 percent at Rs. 305. The counter has seen over three-fold jump in volume with trades of around 1.8 million shares as against the two-week daily average volume of around 581,000 shares on the BSE. In the process, the stock has slumped 9.3 percent in the last two trading days.
Another Cigarette-maker, Godfrey Philips too is trading with a loss of over 3 percent at Rs. 494. Meanwhile, the Sensex has tanked 342 points to 26,847.
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