Value of govt's 28% stake in ITC surged by ₹1,800 cr on vaping ban

The value of the government's stake in ITC surged as much as ₹1,800 crore on Wednesday following the announcement of the nationwide e-cigarette ban. The government and state-owned companies including LIC together held a 28.64% stake in India's largest cigarette maker as of June. Further, state-run New India Assurance Company holds around a 1.53% stake in cigarette maker VST Industries.