Cigarette Stocks Fall Amid GST Overhaul

  Published 7 months ago

Indian cigarette makers slipped as GST overhaul threatens higher taxes, despite a broader market rally.

  • Godfrey Phillips plunged 5% to ₹9,660, driven by concerns of possible GST-driven tax hikes.
  • ITC fell 0.7% while VST Industries dipped 0.6%, reflecting sector-wide investor caution.
  • Benchmark Nifty 50 rose 1.3%, boosted by autos, consumption, and insurance stocks gaining on reforms.

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