ITC may correct to Rs 290-292, says SP Tulsian

Tulsian told CNBC-TV18, “The Budgets will all keep coming in of the states. We have seen yesterday of the UP government but they have spared it. So, whenever we see these kinds of hikes happening by the states they are all passed through.”

He further added, “I have been hearing this for over a decade because generally for all the governments this is the best revenue generation move by them and I don’t think this is really a bug fear. Sentimentally ITC may correct to Rs 290-292 or maybe Rs 295, in fact I don’t take a very negative call because of this news.”