New Delhi, Jan. 2 -- ITC share price fell over 5% on Friday, January 2, sliding to a 52-week low of Rs.345.35, after the government announced a fresh excise duty on tobacco products, effective February 1. This comes after a 10% decline in the previous session.

As per a Finance Ministry notification issued late on December 31, cigarettes will attract an excise duty in the range of Rs.2,050 to Rs.8,500 per 1,000 sticks, depending on cigarette length. The new levy will be imposed in addition to the existing 40% GST applicable on cigarettes, tobacco and similar products from February 1.

The tobacco stock has shed 25% in last 1 year, 16% in past 6 months, 14% in last 3 months and 13% in last 1 month.

The excise hike is expected to significa...