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GST: Cigarette makers choke, ITC worst hit
Cigarette makers on Tuesday were choking in trade, with market leader ITC being hit the worst, its stock falling as much as 15 per cent to Rs 276.90 on the BSE. The slump comes on the back of the GST Council led by Finance Minister Arun Jaitley on Monday evening hiking compensation cess on cigarettes. Losses in the market were led by ITC, which has the second highest weightage (7.65 per cent) in the broader Nifty.
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