ITC down 2%; hikes cigarette prices by 14-18%

ITC increased cigarette prices by 14-18 percent reports DNA. The hike was in line after the government announced an increase in the excise duty on cigarettes in Budget 2013. Till now four states have already increased value added tax (VAT) on cigarettes At 10:45 hrs ITC was quoting at Rs 293.65, down Rs 6.15, or 2.05 percent.
 
It has touched an intraday high of Rs 299.50 and an intraday low of Rs 293. It was trading with volumes of 73,829 shares. 

In the previous trading session, the share closed down 2.61 percent or Rs 8.05 at Rs 299.80.
 
The share touched its 52-week high Rs 310.75 and 52-week low Rs 227.10 on 04 February, 2013 and 09 April, 2012, respectively.
 
Currently, it is trading 5.5 percent below its 52-week high and 29.3 percent above its 52-week low.