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Cess has not much impact , the Input tax credit will absorb it. Cess is levied on raw tobacco too. In the process of manufacture more wastage happens before ultimate cigarette is produced. STGST and IGST input tax credit will offset and ultimately the cost of final product comes down. By this process, there is probability of more than 18% reduction in the selling price of the final product and even if the cess is levied Cigarettes companies will have atleast 10% growth due to overall growth in volume of sales . The topline can be expected to grow atleaast 10% if not more minimum, thus ITC will show a good performance in the next quarter. The GST with or without cess is going to be more beneficial for the ITC and thus its share price is going to move above 390 in the days to come. This beating down of the price is only a accumulation by FIIs and DIIs . Nothing to get paniced. The punter , who have lost the race to accumulate at the lower price at 310-320 are beating the stock down to get it at that level. Tomorrow , I may not be surprised. to see the stock move more than 5 to 6% if the level of 318 is not broken down. A gap up opening above 334.50 can see stock moving forward to 360 by Friday next. If the stock falls below 318, the maximum level it can fall is 313.10 where it will see a very very strong support and bounce back ( 3 days ago )
  rapidinformer  306 followers
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Your analysis may be right but the stock moved up because of no additional cess...why didnt you post this analysis at that time??? ( 3 days ago )
  Market Mentor  3 followers
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Nice analysis dude..even i think cess wont be a roadblock in the topline ( 3 days ago )
  ss86  1 followers
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Thanxx for encouraging .... ( 3 days ago )
  c4chop  0 followers
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