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The Times of India News

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ITC price target slashed 26% on likely cigarette price hikes

Brokerages have significantly downgraded ITC and slashed target prices following a proposed steep tax hike on tobacco products. Analysts anticipate cigarette price increases of up to 32%, warning of a potential surge in smuggled goods. The stock has seen substantial losses, with market capitalization dropping by approximately Rs 66,200 crore in just two sessions.

3 Jan 2026 5:15 am