ITC lost 2.48% to Rs 337.70 at 11:37 IST on BSE on media reports that the Uttar Pradesh government has decided to ban the sale of loose cigarette sticks in the state.
Meanwhile, the S&P BSE Sensex was down 196.15 points or 0.73% at 26,839.70.
On BSE, so far 1.96 lakh shares were traded in the counter as against average daily volume of 5.39 lakh shares in the past one quarter.
The stock hit a high of Rs 347 and a low of Rs 337.25 so far during the day. The stock had hit a 52-week low of Rs 294.50 on 15 June 2015. The stock had hit a record high of Rs 409.70 on 28 February 2015.
The stock had outperformed the market over the past one month till 7 October 2015, surging 10.55% compared with Sensex's 8.6% rise. The scrip had also outperformed the market in past one quarter, jumping 9.23% as against Sensex's 4.03% fall.
The large-cap cigarette maker has equity capital of Rs 802.65 crore. Face value per share is Re 1.
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Media reports further suggested that Maharashtra is also planning to ban sale of loose cigarettes.
ITC's net profit rose 3.6% to Rs 2265.44 crore on 7.2% decline in net sales to Rs 8505.53 crore in Q1 June 2015 over Q1 June 2014.
ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.
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