ITC Slips 0.46% to 306 Rupees as SENSEX Drops 1.70%
Updated
Updated · MarketWatch · May 11
ITC Slips 0.46% to 306 Rupees as SENSEX Drops 1.70%
11 articles · Updated · MarketWatch · May 11
ITC shares fell 0.46% to 306.00 rupees on Monday, a milder decline than the broader market selloff.
The BSE SENSEX dropped 1.70% to 76,015.28, pressuring stocks across the session and driving the weakness in ITC.
ITC still outperformed tobacco peers, with Golden Tobacco down 2.92% and Godfrey Phillips India falling 1.35%.
Trading volume was 496,950 shares, well below the 50-day average of 1.1 million, while the stock remained 31.10% below its 52-week high of 444.15 rupees.
Why do analysts predict a 31% rally for ITC despite a crippling new tax on its core business?
As new taxes hammer cigarette sales, can ITC's pivot to food and hotels happen fast enough to succeed?