Cigarette stocks decline; ITC down 2%

Godfrey Phillips dipped 6% to Rs 2,988, while VST Industries down nearly 3% at Rs 1,638 on BSE.

Shares of cigarette companies like ITC, Godfrey Phillips India and VST Industries are trading lower by up to 6% on media reports that the government may tighten norms to put a check on smoking.

The government is considering a proposal to ban a sale of loose cigarettes. The health ministry also proposed to raise age limit for consumption and increasing the fine for smoking in public spaces to Rs 20,000 from Rs 200, apart from making this a cognizable offence, the Economic Times report suggests.

Among the individual stocks Godfrey Phillips has dipped 6% to Rs 2,988 on BSE.  VST Industries decline nearly 3% at Rs 1,638, while ITC down 2% at Rs 351.