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ITC Shares Extend Further Decline, Falls 4%
ITC shares on the proposal to hike excise duty on tobacco and cigarettes was the biggest loser in trade on the Budget day.
The shares extended further decline and reached an intra-day low of Rs. 210.70 in early trade, shedding as much as 4% in Monday's session.
After the hike of as much as 10% in taxes, there is expected a price rise of 7-10% which is likely to stoke growth in volume.
The share emerges as the worst performed on both the NSE and BSE.
At 9:31 am, the stock quoted at Rs. 212.30, declining 3% on the BSE.
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