ITC Stock Plunges to 21-Month Low Amid Tax Hike, Block Deal

• ITC shares hit a 21-month low due to new tobacco taxation and a significant block deal.
• Finance Ministry notified 40% effective GST on tobacco products from February 1, 2026.
• A block deal saw over 40 million ITC shares worth Rs 16.145 billion change hands.
• Cigarette segment is ITC's key profit driver, accounting for 48% of Q3 revenue.
• Godfrey Phillips India also saw a nearly 10% decline following the news.

Why It Matters: ITC stock fell sharply to a 21-month low, driven by new tobacco taxes and a large block deal.