The Health Ministry has urged the Finance Minister to increase the price of cigarettes by ₹3.5 per stick irrespective of its length by increasing taxes on them. It has also urged the Finance Ministry to scrap the tax exemption on bidis.
Shares such as ITC, Godfrey Phillips and VST Industries are likely to come under pressure next week.
Analysts would keenly be watching the developments on this front as that can impact the bottomline of these companies directly.