Top Losers This Morning –
ITC
ITC shares fell by ₹12.75 (-2.67%), trading at ₹464.45. The stock saw a trading volume of 9.52 million shares, reflecting significant selling pressure.
The decline followed reports of the Group of Ministers (GoM) proposing a 35% GST rate on sin goods like cigarettes and tobacco. This proposal, aimed at restructuring GST rates, is a significant shift from the current GST slab of 28% plus a 5%-36% compensation cess based on the cigarette length.
With cigarettes contributing nearly 45% to ITC’s revenue, this move could pressure margins and volumes. Analysts, including Macquarie, suggested that ITC may need to raise cigarette prices significantly to offset the tax burden.
Vedant Fashions
Vedant Fashions, the parent company of Manyavar, declined by ₹39.65 (-2.77%), closing at ₹1,395.35. The total trading volume for the stock stood at 104,220 shares. The decline was linked to concerns over the GST Council’s proposal to revise tax slabs on luxury items, including ready-made garments, footwear, and accessories. Vedant Fashions, which caters to the high-end ethnic wear market, might face higher costs or reduced demand if GST on these goods is increased.
Trent
Trent witnessed a drop of ₹98.90 (-1.45%), trading at ₹6,706.40 with a trading volume of 225,820 shares.
Hyundai Motor
Hyundai Motor shares decreased by ₹25.40 (-1.35%) to close at ₹1,855.50. The stock recorded a trading volume of 290,220 shares.
Bharti Airtel
Bharti Airtel slipped by ₹17.55 (-1.06%) to ₹1,626.05, with a trading volume of 909,280 shares.
Varun Beverages
Varun Beverages dropped ₹7.80 (-1.23%), trading at ₹624.45, and saw a trading volume of 7.53 million shares.
Adani Green Energy
Adani Green Energy shares fell by ₹12.20 (-0.91%), trading at ₹1,315.75 with a trading volume of 3.08 million shares.
Zomato
Zomato dipped by ₹1.85 (-0.65%), trading at ₹280.65, with a total trading volume of 11.22 million shares.
| Stock | Price (₹) | Change (₹) | % Change | Volume |
|---|---|---|---|---|
| ITC | 464.45 | -12.75 | -2.67% | 9.52M |
| Vedant Fashions | 1,395.35 | -39.65 | -2.77% | 104.22K |
| Trent | 6,706.40 | -98.90 | -1.45% | 225.82K |
| Hyundai Motor | 1,855.50 | -25.40 | -1.35% | 290.22K |
| Bharti Airtel | 1,626.05 | -17.55 | -1.06% | 909.28K |
| Varun Beverages | 624.45 | -7.80 | -1.23% | 7.53M |
| Adani Green Energy | 1,315.75 | -12.20 | -0.91% | 3.08M |
| Zomato | 280.65 | -1.85 | -0.65% | 11.22M |
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
