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The Economic Times News

Business / The Economic Times

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ITC, Godfrey Phillips shares crack up to 8% on New Years Day. Whats the bad news?

Tobacco stocks like ITC and Godfrey Phillips saw significant drops on Thursday. This follows the finance ministry's notification of an additional excise duty on tobacco products. The new levies, effective February 1, will be applied over and above the GST rate. This change replaces the existing compensation cess. Companies may need to increase prices due to these higher taxes.

1 Jan 2026 10:01 am