FM Arun Jailtey announced excise duty hike on most tobacco products by 10-15%.
ITC stocks hit 52 week low on BSE index, after FM Arun Jailtey announcement to hike excise duty on most tobacco products by 10-15%.
According to reports, it is expected that ITC may implement a weighted average price hike of 10-11 percent to pass on the excise duty increase. If such a scenario arises, cigarette will price will increase, while its volumes may decline by 8-10 percent in FY17.
Shares of ITC is currently trading at Rs. 272.70, down by Rs. 18.30 or 6.29% from its previous closing of Rs. 291 on the BSE.The scrip opened at Rs. 292 and has touched a high and low of Rs. 293.65 and Rs. 268 respectively. So far 12861528(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 233984.64 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 409.7 on 28-Feb-2015 and a 52 week low of Rs. 268 on Budget 2016 announcement. Last one week high and low of the scrip stood at Rs. 304 and Rs. 268 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.93 % and 43.82 % respectively.
The stock is currently trading above its 200 DMA.
According to reports, it is expected that ITC may implement a weighted average price hike of 10-11 percent to pass on the excise duty increase. If such a scenario arises, cigarette will price will increase, while its volumes may decline by 8-10 percent in FY17.
Shares of ITC is currently trading at Rs. 272.70, down by Rs. 18.30 or 6.29% from its previous closing of Rs. 291 on the BSE.The scrip opened at Rs. 292 and has touched a high and low of Rs. 293.65 and Rs. 268 respectively. So far 12861528(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 233984.64 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 409.7 on 28-Feb-2015 and a 52 week low of Rs. 268 on Budget 2016 announcement. Last one week high and low of the scrip stood at Rs. 304 and Rs. 268 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.93 % and 43.82 % respectively.
The stock is currently trading above its 200 DMA.
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