ITC dips on worries over regulatory action
ITC has dipped 3% at Rs 260 on concerns about regulatory action at home after reports that Australian court has approved logo ban on tobacco packs from December 1.
“Australia called on the world to match its tough new anti-tobacco marketing laws that will ban logos on cigarette packs, after its highest court on Wednesday dismissed a challenge from global manufacturers," the Reuters report suggests.
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The stock opened at Rs 267 and hit a low of Rs 259 on the NSE. A combined 4.44 million shares have changed hands on the counter so far on both the exchanges.