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Shares of cigarette companies ITC, Godfrey Phillips India and VST Industries have tanked up to 11% in late noon deal on reports that the Health Ministry has accepted the recommendation of expert panel to ban the sale of loose cigarettes.
Among the individual stocks Godfrey Phillips has plunged 11% to Rs 2,890 on BSE. The stock opened at Rs 3,268 and touched low of Rs 2,880 so far.
ITC dipped 5% to Rs 355, while VST Industries slipped 4% to Rs 1,798 on BSE.
“The Ministry has accepted the recommendations and a draft note for Cabinet has been circulated for consultation," said Health Minister JP Nadda in a written reply in the Rajya Sabha.
These recommendations will now be put before the Cabinet and will also require a Parliament nod before they are implemented, the NDTV report suggests.
Among the individual stocks Godfrey Phillips has plunged 11% to Rs 2,890 on BSE. The stock opened at Rs 3,268 and touched low of Rs 2,880 so far.
ITC dipped 5% to Rs 355, while VST Industries slipped 4% to Rs 1,798 on BSE.
“The Ministry has accepted the recommendations and a draft note for Cabinet has been circulated for consultation," said Health Minister JP Nadda in a written reply in the Rajya Sabha.
These recommendations will now be put before the Cabinet and will also require a Parliament nod before they are implemented, the NDTV report suggests.
