ITC shares ended over 3 per cent lower on Wednesday after the government proposed amending anti-smoking law and other changes, including ban on sale of loose cigarettes.
ITC’s scrip fell by 3.29 per cent to end at Rs. 348.40 on the BSE. During the day, it lost 3.92 per cent to settle at Rs. 346.10.
Shares of Godfrey Phillips India were down by 2.47 per cent to Rs. 560.25 and VST Industries shed 1.37 per cent to close at Rs. 1,898.30.
Brushing aside opposition, the government had on Tuesday moved to amend the anti-smoking law and proposed radical changes, including ban on sale of loose cigarettes and raising the minimum age of a person buying tobacco products to 21 years from existing 18.
It has also proposed raising of fine to Rs. 1,000 from Rs. 200 on smoking in public places as well as recommending removal of designated smoking zones in hotels and restaurants.
