ITC stock recovers post 6% fall after NCCD hike on cigarettes

After the government increased National Calamity Contingent Duty (NCCD) on cigarettes, stocks of ITC, Godfrey Phillips and Golden Tobacco fell on Wednesday. ITC shares fell nearly 6%, only to recover soon. While Godfrey Phillips and Golden Tobacco stocks fell by 4% each, NTC Industries was down over a percent and VST Industries fell 0.5%.