Shares of ITC Ltd. plunged the most in nearly six years after a higher levy on tobacco products by the government fueled concerns about its impact on India’s largest cigarette maker.Cigarettes will have an excise duty ranging from ₹2,050 to ₹8,500 rupees per 1,000 sticks from Feb. 1, according to a government notification late Wednesday. The higher charges imply a tax hike of over 30 per cent if the National Calamity Contingent Duty continues, Jefferies Financial Group Inc. said, referring to a surcharge on ...