Last Updated on January 1, 2026 12:19 pm by INDIAN AWAAZ
Biz Desk
Shares of cigarette companies ITC and Godfrey Phillips slumped up to 10% on Thursday’s trade (January 1), after the government imposed excise duty on cigarettes effective next month onwards
The excise duty will be imposed in the range of ₹2,050-8,500 per thousand sticks based on the length of the products from February 1, the Finance Ministry order said late on Wednesday.
The move could increase the prices of cigarettes, thus impacting the sales for ITC and other cigarette producers.
ITC hits 52-week low; Godfrey Phillips tanks 10%
Following this announcement, ITC shares cracked as much as 6% on the BSE to hit the 52-week low of ₹379.
Additionally, a block deal in ITC shares further pressured the stock, according to multiple media reports. CNBC TV-18 reported that 4.03 crore shares (0.31% equity) worth ₹1,614.5 crore changed hands at ₹400 apiece