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Cigarette stocks surge as ITC, Godfrey Phillips rally
ITC and Godfrey Phillips shares surged up to 11 percent amid positive regulatory expectations, while ICICI Prudential Mutual Fund reopened select international schemes with capped investments.
Shares of cigarette makers rallied sharply, with ITC and Godfrey Phillips rising up to 11 %, driven by positive regulatory and tax-related expectations. Investors bet on improved margins and stable demand outlook for tobacco companies. Separately, ICICI Prudential Mutual Fund has resumed subscriptions in three international schemes, capping investments at ₹2 lakh per PAN to manage inflows while offering controlled global equity exposure.