ITC shares hit 6-year low after cigarette tax hike; ₹50,000 cr m-cap wiped out

Anmol Sharma, Published on Jan 1st, 2026

ITC shares hit 6-year low after cigarette tax hike; ₹50,000 cr m-cap wiped out

Shares of India's largest cigarette maker ITC Ltd fell the most in six years on Thursday after the government imposed higher tax on tobacco products. The shares crashed nearly 10% and wiped out over ₹50,000 crore in market capitalisation. The price of cigarettes will reportedly increase by 20%-30% from February 1.

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