|Title||Budget puffs out cigarette stocks|
|Description||In what appears to be a classic case of flattering to deceive, shares of cigarette companies, which flared up under the impression that these companies will be spared of any duty hike, crashed after it became clear that the Union Finance Minister had proposed a sharp hike in duty on cigarettes linked to their size Duty Free Marlboro Cigarettes.
In fact, ITC shares zoomed to a new 52- week high only to come down later losing more than 8 per cent after the market digested the extent of the hike Cartons Of Cigarettes Wholesale.
Arun Jaitley hiked the excise duty by 25 per cent on cigarettes up to 65mm in length and by 15 per cent on cigarettes that were more than 65mm in length. Excise duty on tobacco was hiked to per kg from per kg Cheap Wholesale Cigarettes.
The announcement took a toll on cigarette stocks Wholesale Cigarettes Online. ITC shares shed to slip to after market realised that the budget had hiked the tax on cigarettes. The stock had reached a new high of before it started its downward journey.
Godfrey Phillips India Ltd went down from a high of to VST Industries was another tobacco related stock to be hit. The stock shed to trade at The stock had touched a high of before starting to go down Cheep Newports With Stamps.
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