ITC hits record high

ITC hit a record high of Rs 390, up nearly 2%, extending its previous day's 5.5% rally on the National Stock Exchange.

Shares of ITC has touched a record high of Rs 390, up nearly 2%, extending its previous day’s 5.5% rally on the National Stock Exchange (NSE), after media reports suggests that the government was reconsidering a proposal to ban sale of loose cigarettes.
 

According to government sources, the idea of banning sale of loose cigarettes has been put on hold. They said any decision on the same or demands from activist groups that tobacco and areca nut cultivation be restricted will only be taken after factoring in “commercial interests and interests of farmers,” a Business Standard report suggests.

Godfrey Phillips India and VST Industries among other cigarette companies are trading higher by 1% each at Rs 623 and Rs 1,937 respectively.