Latest Updates Around The World
India’s benchmark indices rose on Monday after the US Supreme Court struck down President Donald Trump’s sweeping global tariffs on Friday. The 30-share Sensex rose over 670 points to hit an intraday high of 83,486 before paring gains at 83,294.66, up 480 points or 0.6%. The Nifty also advanced 142 points to close at 25,713.Meanwhile, […]
Shares of India’s largest cigarette maker ITC suffered the steepest one-day decline in almost six years on Thursday, with shares plunging 10% and wiping out more than Rs 50,000 crore in market capitalization after the Finance Ministry imposed a steep new tax on cigarettes late on Wednesday.The stock tumbled to a fresh 52-week low of […]
The Finance Ministry’s announcement on the sharp increase in cigarette duties is “clearly negative” for ITC in the short term, Jefferies warned. This signals a significant hit to volumes and profits, even as the company remains positive on the stock.Jefferies describes this move as “a meaningful negative surprise for the legal cigarette industry,” estimating that […]
Shares of tobacco stocks such as ITC and Godfrey Phillips fell as much as 19% on Thursday morning after the Treasury Department notified February 1 as the effective date for imposing additional duties on tobacco products. ITC shares fell 10% to an intraday low of Rs 362.7, while Godfrey Phillips fell 19.2% to Rs 2,230.15 […]
Cigarette maker Godfrey Phillips India on Monday reported a 22.8 per cent rise in consolidated net profit at Rs 304.99 crore for the September quarter of FY’26. The company had posted a net profit of Rs 248.31 crore in the July-September period a year ago, according to a regulatory filing by Godfrey Phillips India, the […]
