Shorts pile up on ITC counter; but a neutral Budget can send it soaring

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Shorts pile up on ITC counter; but a neutral Budget can send it soaring
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, ETMarkets.com
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Synopsis

This time around, there are heightened concerns after the government proposed a new cigarette policy that could severely dent the prospects of the industry, which makes up for majority of ITC’s operating profit.

Agencies
Traders have developed cold feet, and sharply increased short positions in February futures contracts of ITC, suggesting that they fear a tax hike in the Budget.

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