Post Budget: Cigarettes stocks trade in the green
Shital Jibhe / 01 Feb 2017
The cigarettes stock surged sharply post the budget. The shares of ITC, Godfrey Phillip, VST, Kothari Product, Golden Tobacco and NTC industries are trading in the green and are up in the range of 1.94 per cent to 6.27 per cent.
The cigarettes stock surged sharply post the budget. The shares of ITC, Godfrey Phillip, VST, Kothari Product, Golden Tobacco and NTC industries are trading in the green and are up in the range of 1.94 per cent to 6.27 per cent.
Golden Tobacco is the highest gainer, followed by ITC which is the largest contributor to the Sensex gain. The cigarette stocks surged as Finance Minister Arun Jaitley announced the hike in the excise duty on various lengths of cigarettes by 2.5 per cetn. Now the current excise duty will be 6 per cent.
These developments also indicate that the cigarettes manufacturers will pass on the cost to the end consumer. In the past few years, the excise duty has been constantly increasing, which in turn has resulted in increase in the prices of cigarettes.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.