Sunday, March 16, 2025 | 09:22 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

After Budget newsflow on GST rates, demand hold key for ITC stock

Shares of the cigarette maker hit 52-week high after the Budget left taxes unchanged

ITC
Premium

Positively, ITC's FMCG business has seen good gains in profitability in the past few quarters and the potential remains strong

Yash Upadhyaya Mumbai
Shares of ITC, the leader in domestic cigarettes industry, advanced close to 3.5 per cent intra-day to hit a fresh 52-week high of Rs 223.5 per share on the NSE on Tuesday. The stock though witnessed some profit-booking before ending the day with 1.2 per cent gains, but is still up 7.5 per cent in the past two days.

The gains come on the back of no mention of a widely expected hike in National Calamity Contingent Duty (NCCD) in the Budget. To put it into context, analysts were expecting the finance minister to increase taxes on cigarettes in order

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in