The Economic Times News

Rs 50,000 crore wiped out as ITC shares crack 10%, worst day in 6 years. Should investors buy the fear?

ITC shares fell sharply on Thursday, erasing over Rs 50,000 crore in market value after a steep new cigarette tax spooked investors. The excise hikeon top of GSTmay force price increases of 15% or more, raising risks of volume loss and a shift toward illicit trade, analysts warned.