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ITC, NTC Ind: Strategies for Cigarette-related stocks after duty hike

ITC stock needs to sustain over Rs 350 to embark a new bull-run

cigarette, ITC
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Tax on cigarette raised by 16 per cent

Avdhut Bagkar Mumbai
Shares of cigarette-related companies will be in limelight starting today, as the Finance Minister raised Natural Calamity Contingent Duty (NCCD) on certain cigarettes by 16 per cent in her Union Budget 2023 speech.

As soon as this news poured in, all the cigarette related stock experienced a sudden dip fall. However, shares of ITC went to hit a new all-time high as it successfully managed to recover from the impact. Previous historic peak of ITC was at Rs 361.45.

Barring Godfrey Phillips India, VST Industries and NTC Industries were also able to recoup their losses and were seen trading with gains between

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First Published: Feb 01 2023 | 2:24 PM IST

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