ITC wipes off ₹72,000 crore from investor wealth in just 2 days

FMCG giant ITC's shares have tumbled over 14% in just two days, wiping off ₹72,000 crore from investor wealth, as the government imposed additional tax on cigarettes and pan masala. The company's shares, which hit their lowest level (₹345.35) since 2024 on Friday, have dipped nearly 26% from their 52-week high. The stock even dragged BSE FMCG index down 1.26%.