Indian tobacco stocks tank as government levies new tax on cigarettes
- 01-Jan-2026
Shares of Indian tobacco companies slumped on Thursday after the government imposed a new tax on cigarettes, making them costlier for an estimated 100 million smokers in the world’s most populous country. ITC (ITC.NS) maker of Gold Flake and the market leader, fell 9.2%, while Godfrey Phillips India (GDFR.NS), opens new tab, the distributor of […]