FMCG major ITC, witnessed a fall in share price on Saturday after finance minister Arun Jaitley increased excise duty by 25% on cigarettes up to 65mm in length.
Cigarettes more then 65mm in length will pay 15% more excise duty. Excise duty on tobacco increased to Rs 70 per kg from Rs 60 per kg.
Shares of the company are trading at Rs 359.90, down Rs 33.9, or 8.61% at the Bombay Stock Exchange (BSE) on Saturday at 2:17 p.m.
The scrip has touched an intra-day high of Rs 409.70 and low of Rs 350. The total volume of shares traded at the BSE is 4,587,464.