Moneycontrol

Budget 2023Budget 2023
you are here: HomeNewsOpinion

Are ITC’s shares catching a budget chill?

Budget time brings fears among investors about an increase in tax on tobacco. Other proposed policy moves too may be worrying them

December 29, 2022 / 06:07 PM IST
Are ITC’s shares catching a budget chill?

While the risk of taxes on cigarettes being hiked remains, it does not appear to be serious enough to merit a re-rating of the ITC stock

ITC’s shares have done rather well in 2022 compared to peers but recently they seem to be facing some rough weather. While it could have to do with relative valuations, maybe it’s just about taking a break for some time after having run up smartly during the year. (image) But, there could be some other reasons too. On the policy front, recent news reports have talked about loose cigarettes being banned and disallowing tobacco consumption at special zones demarcated at...

To read the full story, Subscribe to Moneycontrol PRO

Access the exclusive stories, weekly investment ideas and daily technical calls in an Ad free experience

Already a member? Sign in

Limited Period offer on Moneycontrol PRO. Subscribe to PRO and get up to

50% OFF

What Do You Get

  • Ad free experience

    Experience a non-intrusive navigation and faster response in the ad free mode

  • Sharpest Opinions

    Access to 230+ exclusive stories per month from our editorial and Experts

  • +

    Have a Global edge with access to content from world renowned experts and journalist

  • Actionable Insights

    Access to 40+ weekly investment ideas including 4 daily technical calls

  • Virtual Events

    Exclusive access to live webinars from market experts on trading and investment strategies

  • Newsletters

    Daily and weekly insights bundled and sent to your inbox to keep you ahead in the race.

Get upto 50% discount on limited period offers