ITC shares experienced a significant decline of 10% following a government excise duty hike on cigarettes, effective next month. This development may impact the company's margins and stock price. Major institutional investors, including SBI Mutual Funds, ICICI Prudential Mutual Funds, and foreign investor GQG Partners, hold substantial stakes in ITC. Life Insurance Corporation of India (LIC) is also a significant shareholder. The company's shareholding pattern indicates public shareholders own the entire stake, with no promoter holdings.