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Headlines Tagged with ITC 601 headlines found

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India's ITC Ltd June qtr profit up about 7.4 pct

India's Itc Ltd :June quarter profit 25.61 billion rupees versus profit of 23.85 billion rupees last year.Consensus forecast for June quarter net profit was 25.81 billion rupees.June quarter total income 142.77 billion rupees versus 136.74 billion rupees
Reuters
added Jul 28, 2017 20:20
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[Asia, India] GST impact on cigarettes: Wills Classic, Gold Flake, Navy Cut prices to increase after hike in cess

A week after the GST Council raised the cess on cigarettes over the peak rate of 28 per cent, ITC increased cigarette prices by 4 to 8 per cent on as many as 25 different pack sizes and variants. Smokers will now have to shell out more for brands like Cla
Business Today (in)
added Jul 26, 2017 22:45
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[Asia, India] GST impact on cigarettes: ITC stock falls most in 25 years, market cap plunges by Rs 50,000 cr

The stock closed 12.63% down to Rs 284.60 on BSE and ITC lost nearly Rs 50,000 crore in market capitalisation. The share prices of other cigarette manufacturers such as Godfrey Phillips India, which counts Philip Morris International as an investor, fell
Financial Express (in)
added Jul 20, 2017 00:58
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[Asia, India] Rs 50,000 crore goes up in smoke

The stock of ITC, India's biggest cigarette maker, plunged the most in the past quarter of a century after the government corrected an anomaly in the GST and increased the surcharge on tobacco. The 13 per cent decline on Tuesday eroded the gains of the p
The Economic Times (India)
added Jul 19, 2017 16:02
2 Views

[Asia, India] Cess on cigarettes wipes out Rs 48K cr from BSE in 1 day

The Goods and Services Tax Council’s decision to increase the cess on cigarettes triggered a sharp selloff in shares of tobacco companies with the ITC scrip falling by nearly 13 per cent on Tuesday and investors losing nearly Rs 48,000 crore in a single
Daily Pioneer (in)
added Jul 19, 2017 16:00
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[India] Tobacco Tax U-Turn Burns $7 Billion Hole in ITC's Market Cap

ITC Ltd., Asia’s second-largest cigarette maker by value, plunged the most in 25 years after India surprised investors by raising levies on tobacco products. The stock slumped 12 percent to 285.1 rupees at 3:12 p.m. in Mumbai, erasing $7.5 billion from
Bloomberg News
added Jul 18, 2017 22:52
3 Views

[Asia, India] ITC felled by govt’s capricious turn on GST

The press statement sends a different message. It says that a “lower tax incidence” may be welcome for other goods but is unacceptable in goods such as cigarettes. This is very strange. If companies did not pass lower taxes the anti-profiteering rules s
livemint.com (in)
added Jul 18, 2017 22:51
6 Views

Cigarette Makers Drag Indian Equities Lower on Surprise Tax Hike

Declines in India’s cigarette makers, led by ITC Ltd., sent the nation’s benchmark stock index to its steepest decline in seven months. The S&P BSE Sensex Index closed 1.1 percent lower, dropping from Monday’s record level. The benchmark has climbed to m
Bloomberg News
added Jul 18, 2017 14:10
8 Views

[Asia, India] LIC Thinks PIL Against Its Investments in Tobacco and ITC Is Frivolous

Kicking off a public interest litigation (PIL) filed against Life Insurance Corporation’s (LIC) investments in tobacco majors such as Indian Tobacco Company Ltd (ITC), LIC told the Bombay high court on Friday that the petition was “frivolous,” an “abuse o
The Wire (in)
added Jun 27, 2017 00:16
2 Views

[Asia] India's ITC Ltd March-qtr profit up 12 pct

Reuters
added May 27, 2017 23:28
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