Rs 50,000 crore wiped out as ITC shares crack 10%, worst day in 6 years. Should investors buy the fear?
Shares of India’s largest cigarette maker, ITC, suffered their steepest single-day decline in nearly six years on Thursday, with shares crashing 10% and wiping out over Rs 50,000 crore in market capitalisation after the Finance Ministry imposed a sharp new tax on cigarettes late on Wednesday. The stock plummeted to a fresh 52-week low of … Read more