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Indian tobacco stocks slide after government imposes fresh cigarette tax
Tobacco stocks in India fell following the government’s announcement of a fresh cigarette tax hike, raising investor concerns about demand and earnings impact.
Shares of major Indian tobacco companies declined after the government announced a fresh increase in cigarette taxes, raising concerns among investors about potential pressure on volumes and margins. The decision to raise excise duties is part of broader efforts to boost revenue and curb consumption, but has immediate implications for tobacco firms listed on Indian exchanges. Higher taxes could weigh on consumer demand and near term profitability, prompting selling in sector stocks.