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.
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.