I have 200 shares of ITC Ltd purchased at around Rs168. The stock fell sharply after the Budget. I am a long-term investor and want to play safe.
— G. Ramesh
In the Budget, the excise duty on tobacco products was hiked, which affected cigarette makers such as ITC. This was much anticipated and for the last several years it is a rather common budgetary proposal. However, since ITC is a well- diversified group, I would not recommend you to sell this stock.
I have 500 shares of Unitech Ltd purchased at Rs105. What’s the future of the stock, especially after the Budget, and when should I sell?
— Pratibha
The Budget has a good impact on Unitech as it proposed to give developers tax deductions on existing projects and relaxed norms for built-up area. I think you should hold this stock.