ITC – Is 'Capital Misallocation' a narrative fallacy or a reality?

The share of ITC is at seven-eight year low after the current market turmoil and because of several reasons related to its business: a) The escalating and unprecedented tax burden on legal cigarettes which has trebled between 2012-13 and 2017-18. Source: Tobacco Institute of India b) The legal cigarette industry's volume growth has declined steadily … Continue reading ITC – Is 'Capital Misallocation' a narrative fallacy or a reality?