FMCG major ITC plunged on Monday after Health Minister Harshvardhan recommended a substantial hike in excise duty on cigarettes.
Harshvardhan said cigarettes should carry uniform tax of Rs 3.5 per stick irrespective of size and length-based duties should be done away with.
Shares of the company are trading at Rs 319.40, down Rs 14.3, or 4.29% at the Bombay Stock Exchange (BSE) on Monday at 12:17 p.m.
The scrip has touched an intra-day high of Rs 335 and low of Rs 319. The total volume of shares traded at the BSE is 811,328.