ITC trades firm despite Maharashtra banning sale of loose cigarettes

This regulation is mainly on small retail shops and would be difficult to implement on the ground, analysts say

Shares of ITC were trading firm at Rs 173, up 1 per cent, on the BSE on Monday despite the Maharashtra government banning the sale of loose cigarettes and beedis, making it the first state to do so. The stock of the fast moving consumer goods (FMCG) company, however, underperformed the S&P BSE Sensex, which up 1.4 per cent at 37,919 points at 01:10 pm.

The Maharashtra government's move is aimed at ensuring that customers see the graphic, public health warnings mandated on cigarette packs. This regulation is mainly on small retail shops and would be difficult to implement