01 Feb 2026 | 5 Mins Read
ITC investors lose Rs 1 lakh crore after tax shock
Flipitmoney
ITC shareholders saw Rs 1 lakh crore wiped off the company's market value after a 20% correction due to a sharp increase in cigarette taxation. The government introduced excise duties of Rs 2,050-8,500 per 1,000 cigarette sticks and a 40% GST rate. Analysts agree the stock decline reflects policy changes, not a deterioration in ITC's business fundamentals.