Share prices of cigarette makers ITC, Godfrey Phillips and VST Industries along ... for companies due to reduced consumer spending. This shift may result in a sharp drop in sales.

Stock market analysts believe no tax hike would be the best scenario for cigarette stocks, followed by a single-digit growth in taxes that they believe could be easily absorbed by cigarette makers.

However, Philip Morris, the world’s largest tobacco company, allegedly made indirect payments to its manufacturing partner, Godfrey Phillips, to produce its iconic Marlboro cigarettes.

in which the Modi family owns 47.48 per cent stake and the remaining 25.10 per cent is owned by Philip Morris Global Brands Inc. Godfrey Phillips India produces a range of cigarette brands.