Shares in ITC Rally 5% on Reports of Govt Reconsidering Loose Cigarette Sale Ban

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    Shares in Cigarettes maker ITC were up 4 per cent, after reports that the government was re-considering a decision to ban loose cigarettes. Last last week shares of ITC fell sharply after reports of the ban. However, today it rallied almost 4 per cent on reports of the government reconsidering its decision.

    Shares in ITC Rally 5% on Reports of Govt Reconsidering Loose Cigarette Sale Ban
    ITC: Quotes, News
    BSE 289.75BSE Quote0.1 (0.03%)
    NSE 289.75NSE Quote0.15 (-0.05%)
    The stock was trading 4 per cent higher at Rs 374.

    ITC has over the years diversified and broadened its portfolio to ensure a lesser reliance on the tobacco business. Nonetheless, the company derives a significant proportion of its business from Tobacco.

    Read more about: itc
    Story first published: Thursday, December 4, 2014, 10:34 [IST]
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