Click it and Unblock the Notifications
Shares in ITC fall as Health Minister proposes tax on cigarettes
Shares in India's largest cigarettes manufacturer ITC fell after the Economic Times reported that Union health minister Harsh Vardhan has sought an increase in tax on cigarettes of all lengths by Rs 2 to Rs 3.5 per stick as well as removal of tax exemption granted to bidi makers, measures that can deter people from smoking.
Shares in ITC fell 5 per cent after the proposed reports and was last trading at Rs 320 on the National Stock Exchange.
Though ITC is now a well diversified company, a bulk of its revenues still come from the cigarettes business. The tobacco business is also a high margin business for the company.
In the past successive Union Budget's have raised the prices of excise on cigarettes to curb their usage. This is also a good revenue stream for the company.
GoodReturns.in
More From GoodReturns
Gas Cylinder Booking Rules: 5 Things To Know For Your 14.2Kg, 19KG, 5KG, 10KG LPG Booking In April 2026
New PAN Card Rules From April 1, 2026: How To Apply For New PAN Card Via Protean, E-Filing Portal?
LPG Gas Cylinder Prices Hiked Again From April 1; 19 KG LPG Gets Costlier By Rs 218; 14.2 KG LPG Unchanged
Gold Rate in India Rises Over Rs 37,000/24K in Three Days; Will Jump in Gold Price Today Continue on 31 March?
Gold Rate in India Rebounds After Falling Nearly Rs 40,000 In a Day; Will Gold Price Today Jump or Drop?
Gold Price Today Declines After 3-Day Surge; Check Latest 22K, 24K, 18K Gold & Silver Rates in Delhi on 2April
Bank Holiday In April 2026: Banks To Be Closed For 14 Days; Good Friday, Baisakhi To Akshaya Tritiya
Hyderabad Gold Rates Today Crash By Rs 40,000 After 6 Days, Silver Rate Falls By Rs 10,000: 24K, 22K, 18k Gold
Fresh Drop in Gold Rate Today; Silver Stable: Latest 22K, 24K, 18K Gold & Silver Prices in Delhi on 30 March
Govt Approves PDS Kerosene Distribution in 21 States for 60 Days, Sets 5,000 L Storage Limit Amid LPG Crisis
Bank Holiday Today, Tomorrow & More: Banks Are Closed On March 31, April 1, April 2, April 3; Here's Why
Sign in with Google