ITC hits life-time high, bounces back 11% from day's low on heavy volumes

Shares of ITC were up nearly 4 per cent at Rs 365.65, surpassing its previous high of Rs 362, touched on November 11, 2022, on the BSE in intra-day trade on Wednesday.

Shares of ITC jumped nearly 4 per cent to Rs 365.65, surpassing its previous high of Rs 362, touched on November 11, 2022, on the BSE in Wednesday’s intra-day trade. The stock of cigarette major bounced back 10 per cent from its intra-day low of Rs 329 on the back of heavy volumes.

The stock of cigarette major dipped nearly 7 per cent in intra-day trade after the government proposes to revise the National Calamity Contingent Duty (NCCD) upwards by about 16 per cent on specified cigarettes.

“National Calamity Contingent Duty (NCCD) on specified cigarettes was last revised three