Shares of cigarette-making companies surged sharply on Wednesday following a price revision taken to offset the impact of higher taxes. ITC shares gained 2.2% to close at Rs 332.70 apiece while Godfrey Phillips India shares rallied 20 % to settle at Rs 2,478.8 apiece. Cigarette stocks had come under severe selling pressure since the beginning of the year following the government's notification of a new excise duty. This followed the passage of the Central Excise (Amendment) Bill, 2025, which replaced the earlier temporary levy with a formalised excise structure. The changes have led to substantial price hikes of 15% to 40% per pack.

Source: Indian Express February 19, 2026 04:51 UTC