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To view or add a comment, sign in Shares of cigarette makers like ITC and Godfrey Phillips continued their winning streak on Wednesday, February 18, with the stocks rallying up to 13% following reports of cigarette price hikes to offset the recent excise duty increases.Shares of Godfrey Phillips India surged about 12%, hitting intraday highs of 2,314.30, while those of VST Industries gained about 3%

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And because many tobacco users are on the lower end of the income scale, an increased tax falls squarely on the backs of the poor

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