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Cigarette shares gain on GST Council proposals; ITC up over 5%

Cigarette shares gain on GST Council proposals; ITC up over 5%

Friday, March 17, 2017, 10:27 AM

Shares of cigarette companies are in focus with ITC rallying over 5% in morning deals, after the Goods and Services Tax (GST) Council on Thursday cleared a proposal to cap the cess on tobacco and cigarettes. ITC surged 7.5% to Rs 288 on BSE in intra-day trade. The stock was trading close to its lifetime high of Rs 292, touched on February 7, 2017.
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