ITC: No tax hike on cigarettes, robust Q3 can fire up ITC stock

The ITC stock has appreciated over 6% since the announcement of the budget on the back of no change in the tax burden on cigarettes.

Synopsis

It seemed the budget, with no tax increases on cigarettes, would effectively steal the thunder of ITC’s December quarter results to be announced on Thursday. However, with the company posting strong performance for the third quarter aided by a low base, the rally in the ITC stock has been provided with further fuel in the near term.

ET Intelligence Group: It seemed the budget, with no tax increases on cigarettes, would effectively steal the thunder of ITC’s December quarter results to be announced on Thursday. However, with the company posting strong performance for the third quarter aided by a low base, the rally in the ITC stock has been provided with further fuel in the near term.

The surge in revenues of the company’s cigarette, agri and hotels businesses drove the 30%

BY

ET Bureau

3 mins read, Last Updated:

Feb 04, 2022, 06:08 AM IST

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