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Godfrey Phillips shares tumble over 19% here's what tech charts hint at
Godfrey Phillips India’s share price dropped over 19% on Jan 1, 2026 as markets reacted to new excise duty news, with technical charts showing bearish momentum. :contentReference[oaicite:1]{index=1}
Shares of Godfrey Phillips India Ltd plunged sharply in the first trading session of 2026 after the Indian government announced an additional excise duty on cigarettes effective February 1, 2026. The stock declined about 19.24% to a low of around ₹2,230.15 as selling pressure intensified following the tax news. Technical indicators show the share trading below multiple moving averages, suggesting weak momentum, while the 14-day RSI at 26.05 indicates oversold conditions.