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The Economic Times
The Economic Times
Debaroti Adhikary

ITC shares fall 3% to fresh 52-week low; Motilal Oswal sees more pain ahead

ITC Motilal Motilal Oswal Financial Services FMCG NSE

Shares of FMCG major ITC dropped nearly 3% to hit a fresh record low on Wednesday, with Motilal Oswal Financial Services remaining cautious on the stock after steep tax hikes on cigarettes.

ITC shares dropped to a fresh 52-week low of Rs 275.50 apiece on NSE in the morning trading hours of Wednesday. The stock is currently among the top losers on Sensex and Nifty, following the IT stocks, which crashed up to 7%.

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