Power-puff! ITC jumps 8%

FM Arun Jailtey announced to hike excise duty on most tobacco products by 10-15%.

ITC jumped 8% to Rs.319 on BSE. FM Arun Jailtey announcement to hike excise duty on most tobacco products by 10-15%. According to media reports, the brokerage upgraded the stock to 'buy' as the hike in excise duty was less than expected. 

The scrip opened at Rs. 305 and has touched a high and low of Rs. 322.6 and Rs. 302 respectively. So far 24700551(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 237844.18 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 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 301.5 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 below its 200 DMA.