 "ITC hits lifetime high; surpasses HDFC Bank in m-cap ranking")
ITC has moved higher to its lifetime high of Rs 280, up 4% in early morning trade, extending its previous days nearly 5% rally on the BSE, after a lower-than-expected hike in excise duty on cigarettes in the Budget.
In his budget speech, finance minister Arun Jaitley proposed to hike excise duty on various lengths of cigarettes between 2.5% to 6%, as against an expectation of 8-10%. CLICK HERE TO READ FULL REPORT
"Excise duty for cigarettes hiked between 2.5%-6% is positive for ITC, VST Industries and Godfrey Philips as hike is less than expected," said
In his budget speech, finance minister Arun Jaitley proposed to hike excise duty on various lengths of cigarettes between 2.5% to 6%, as against an expectation of 8-10%. CLICK HERE TO READ FULL REPORT
"Excise duty for cigarettes hiked between 2.5%-6% is positive for ITC, VST Industries and Godfrey Philips as hike is less than expected," said
