ITC Ltd is up for a third straight session today. The stock is quoting at Rs 380.15, up 5.19% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.38% on the day, quoting at 17548.9. The Sensex is at 59690.57, down 0.03%. ITC Ltd has gained around 14.81% in last one month.

Meanwhile, Nifty Financial Services index of which ITC Ltd is a constituent, has gained around 4.4% in last one month and is currently quoting at 44958.3, up 2.21% on the day. The volume in the stock stood at 382.26 lakh shares today, compared to the daily average of 131.92 lakh shares in last one month.

The benchmark February futures contract for the stock is quoting at Rs 375.1, up 5.37% on the day. ITC Ltd is up 62.15% in last one year as compared to a 0.06% slide in NIFTY and a 22.65% slide in the Nifty Financial Services index.

The PE of the stock is 26.42 based on TTM earnings ending September 22.

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Godfrey Phillips India (down 5.31%), VST Industries (down 2.40%) and Golden Tobacco (down 1.38%) tumbled.

Finance Minister Nirmala Sitharaman in her Union Budget announcement today said the National Calamity Contingent Duty (NCCD) on specified cigarettes is proposed to be revised upwards by about 16%.

The NCCD on specified cigarettes was last revised three years ago, the FM said while addressing the Parliament.

Cigarette major ITC slumped as much as 6.6% in intraday. It later bounced 2.61% to settle at Rs 361.45. The media reported that the impact of NCCD on the overall volumes of the company is expected to be limited.

According to a domestic brokerage, the net tax on cigarettes would require a 1-3% hike in the prices of cigarettes across different categories. The hike in taxes is not very high and would be easily passed on by small increases (1-3%) in prices, the brokerage reportedly said.

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ITC Ltd is up for a fifth straight session today. The stock is quoting at Rs 346.3, up 2.08% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 1.81% on the day, quoting at 17568.6. The Sensex is at 59185.13, down 1.69%. ITC Ltd has gained around 3.56% in last one month.

Meanwhile, Nifty Financial Services index of which ITC Ltd is a constituent, has gained around 0.47% in last one month and is currently quoting at 44284.15, up 0.22% on the day. The volume in the stock stood at 142.02 lakh shares today, compared to the daily average of 90 lakh shares in last one month.

The benchmark February futures contract for the stock is quoting at Rs 344.35, up 2.36% on the day. ITC Ltd is up 59.15% in last one year as compared to a 2.73% jump in NIFTY and a 22.64% jump in the Nifty Financial Services index.

The PE of the stock is 24.83 based on TTM earnings ending September 22.

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ITC announced that Navneet Doda has stepped down from the Board of Directors of the Company with effect from today i.e., 20 January 2023. Doda represented the General Insurers' (Public Sector) Association of India.

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