Three cigarette makers rose by 0.16% to 3.77% at 14:28 IST on BSE after Finance Minister proposed to increase the specific excise duty on cigarettes in the range of 11% to 72%.
NTC Industries (up 3.77%), Godfrey Phillips India (up 0.27%) and ITC (up 0.16%), edged higher.
However, VST Industries fell 4.23%.
The S&P BSE Sensex was up 400.65 points, or 1.57% at 25,845.46.
In the Union Budget 2014-15 today, 10 July 2014, Finance Minister Arun Jaitley proposed to increase the specific excise duty on cigarettes in the range of 11% to 72%. Similar increases are proposed on cigars, cheroots and cigarillos.
Likewise, the excise duty was increased from 12% to 16% on pan masala, from 50% to 55% on unmanufactured tobacco and from 60% to 70% on gutkha and chewing tobacco.
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