India’s ITC Loses Third of Buy Calls as Tobacco Tax Hits Stock

emerging-markets,brics,retail,consumer-staples,government

Ashutosh Joshi

Company Overview

Buy Recommendations on ITC Stock Slide

Largest Indian Cigarette Maker ITC Plunges on Higher Tobacco Tax

India’s ITC Sheds $7 Billion as ‘Tax Shock’ Triggers Rating Cuts

India

Government

Markets

Finance

Retail

Europe

Industrials

France

Emerging Markets

Asia

Infrastructure

Americas

BRICS

Aerospace Industry

Materials

Consumer Staples

United States

ITC has lost its status as a favorite among analysts, with a third of them downgrading recommendations on the nation’s top cigarette maker

cigarettes

ITC Ltd. has lost its status as a favorite among analysts, with a third of them downgrading recommendations on the nation’s top cigarette maker.

Bloomberg subscribers can save articles and view them from any device.

Upgrade to an unlimited subscription to save articles and view them from anywhere.

Bloomberg subscribers can send up to {count} articles a month to anyone to read for free, including non-subscribers.

Upgrade your subscription to send up to {count} articles a month to anyone to read for free, including non-subscribers.

Copy article link

Hello,<p>A Bloomberg.com subscriber thought you might want to read this story. To read it, all you need to do is click on the link – no subscription necessary. (Please note the link will only be valid for {days} days.)

Email article link

Please try again. If the problem persists, please contact customer support.

Something went wrong

We've doubled your gift articles this month. Share up to {count} articles with friends, family or colleagues.

As a subscriber, you can gift up to {count} articles this month. The recipient can read the full article for free – no subscription necessary.

As a subscriber, you can gift up to {count} articles each month. The recipient can read the full article for free – no subscription necessary.