Shares of ITC Ltd., Godfrey Phillips Ltd., VST Industries Ltd., and other tobacco manufacturing companies advanced on Saturday, as the government announced that tax rates on tobacco products will remain unchanged, in the Union Budget 2025–26. There will be no increase in taxation on cigarettes in finance bill, Finance Minister Nirmala Sitharaman said.
Following the announcement, the market-cap of the sin goods manufacturing companies increased Rs 14,276.9 crore to Rs 5.9 lakh crore as of 12:32 p.m.
Godfrey Phillips India Ltd. share price led the gains among peers. ITC Ltd., and The Indian Wood Products Ltd. followed suit, with 3.40% and 2.58% gain, respectively.
Intraday, Godfrey Phillips and ITC Ltd. share prices rose 5.25% and 4.79%, respectively.
Meanwhile, Sinnar Bidi Udyog Ltd. was flat to become the worst performing stock.
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