ITC’s market value has dropped significantly following a recent tax hike on cigarettes. Investors are now looking to the upcoming Budget for clarity on future taxation. While the core business shows resilience, near-term pressure on volumes and margins is expected. The company’s diversified operations offer a buffer against these challenges.
Mcap of 8 of top-10 firms erodes by Rs 1.55L cr
Recently, the market witnessed a downturn, with eight of the leading firms in India suffering major valuation losses. The declines of HDFC Bank and Bajaj