Updated February 20, 2020
Why is ITC Ltd Stock Falling? ITC Ltd stock has corrected by almost 10-12% from the last couple of weeks and hit its 52-week low 203.9 on 18th Feb, 2020.
Why ITC Ltd Stock is Falling – Negative Factors
The share price of ITC Ltd stock has been going down since announcement Budget 2020 and What is happening to ITC Ltd Share Price in the Stock Market and Why? In this article, we are going to discuss the positive and negative factor about ITC Ltd.
- The increase in taxes on cigarettes is on the back of an increase in National Calamity Contingent Duty (NCCD).
- NCCD in 2020 Budget was increased to Rs.44.5 paisa/stick for all segments which will result in a 14% increase in total tax per stick and in turn 5% downgrade to projected Earnings.
Why ITC Ltd Stock is Falling – Positive Factors
ITC Limited is an Indian multinational conglomerate company having headquarter in Kolkata, West Bengal. The company operates through 4 segments: FMCG; Hotels; Paperboards, Paper and Packaging; and Agri Business.