New Delhi, Jan. 13 -- Shares of FMCG giant ITC fell 1% to Rs.334.85 apiece, hitting a fresh 52-week low, on Tuesday, January 13, as the market reacted to broader weakness and the looming excise duty hike on cigarettes.

The FMCG stock has been in focus since the beginning of the year after the government announced a hike in cigarette taxes, which will be effective from February 1, 2026.

In December 2025, the Indian government announced an additional excise duty on tobacco products effective February 1.

The finance ministry announced amendments to the Central Excise Act that introduced excise duty ranging from Rs.2,050 to Rs.8,500 per 1,000 cigarette sticks, depending on their length. This levy will apply in addition to the now increased...