The Nifty stayed flat, but for tobacco investors, today was a bloodbath. ITC and Godfrey Phillips tanked over 10% in a single session. Why?
The government just unleashed a new tax regime: 40% GST and a steep excise duty hike up to ₹8,500. Billions in market cap were wiped out in hours. Is this the end of the road for tobacco stocks, or a buying opportunity in the wreckage?
Plus, amidst the chaos, GST collections hit ₹1.74 Lakh Cr—proof the economy is booming while stocks bleed.
Sanket Bendre breaks down the damage.
