Feb 28, 2015 at 20:02 | Source: PTI
"The footwear industry is particularly bullish as for shoes having MRP of above Rs 1,000 per pair will now attract half the excise duty by halving the duty from 12 to 6 percent," Liberty Footwear Chief Executive Adesh Gupta said.
Feb 28, 2015 at 17:10 | Source: PTI
Leather footwear priced above Rs 1,000 per pair will cost less as excise duty has gone down to 6 percent from 12 percent earlier. Packaged fruits and vegetables will also become cheaper as pre-cooling, ripening, retail packing and labelling of these items have been exempted from service tax.
Feb 28, 2015 at 16:30 | Source: Moneycontrol.com
An excise duty hike by 15 percent for cigarettes took a toll on index heavyweight ITC, knocking off some 9 percent intraday. Not only that, the government has also proposed an excise duty raise by 25 percent for 65mm cigarettes and on tobacco increased to Rs 70/kg from Rs 60/kg
Feb 28, 2015 at 14:00 | Source: Moneycontrol.com
ITC is down 9 percent on excise duty hike on cigarettes. BHEL is down 5 percent, while NTPC, Hindalco and HDFC are losers in the Sensex.
Feb 28, 2015 at 13:17 | Source: Moneycontrol.com
Auto sales have been under pressure for the last few months with the economy still to show signs of a recovery. The pick-up around the festive season too has not been maintained. Furthermore, the withdrawal of excise cut forced auto makers to increase prices, thereby affecting sales.
Feb 28, 2015 at 13:10 | Source: Moneycontrol.com
ITC is down 8 percent as government has increased excise duty by 15 percent. FMCG index is down 4 percent from previous close. However, HUL is up 2 percent from the FMCG pack. Axis Bank, Tata Motors, Tata Steel and Dr Reddy's Labs are gainers in the Sensex. Among the losers are ITC, NTPC, BHEL, Sesa Sterlite and HDFC.
Feb 28, 2015 at 12:57 | Source: Moneycontrol.com
The government has increased excise duty on cigarettes by 25 percent for cigarette length of less than 65 mm and for other categories it has increased by 15 percent.
Feb 28, 2015 at 12:53 | Source: Moneycontrol.com
ITC is down 8 percent as government has increased excise duty by 15 percent. FMCG index is down 4 percent from previous close. NTPC, BHEL, L&T and Hindalco are major losers.
Feb 28, 2015 at 12:33 | Source: Moneycontrol.com
Relaxo Footwears and Bata India shot up 4-5 percent as government has reduced excise duty on leather footwear.
Feb 28, 2015 at 09:25 | Source: Moneycontrol.com
Shares of ITC declined nearly a percent on Saturday as investors seem to be cautious fearing for an excise duty hike on cigarettes. In an earlier note, Credit Suisse had warned ITC may see de-rating if excise duty on cigarette is hiked over 15 percent indicating headwinds likely to continue for some more years.