New Delhi [India], January 1: New year optimism lasted exactly one session. Indian tobacco stocks fall after the government quietly rewired cigarette taxes and markets reacted, fast and without mercy.
Indian tobacco stocks fall was the story traders could not ignore on Thursday. Screens lit up red. Orders thinned. And by mid-session, it was obvious this was not a mood swing. It was policy colliding with profit.
The finance ministry late Wednesday notified a new excise duty on cigarettes, effective February 1. No drama. No long speech….
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