Cigarette stocks gained up to 5.5 per cent on Wednesday after the Cabinet approved an ordinance for banning production, import, distribution and sale of electronic cigarettes.
Shares of Godfrey Phillips India jumped 5.55 per cent and Golden Tobacco climbed 4.69 per cent on the BSE.
Likewise, VST Industries rose by 3.43 per cent and ITC gained 1.03 per cent.
The Union Cabinet on Wednesday approved an ordinance for banning production, import, distribution and sale of electronic cigarettes and proposed a jail term for those violating the provisions.
Finance Minister Nirmala Sitharaman, who had headed a Group of Ministers (GoM) on the issue, said the Cabinet decided to ban e-cigarettes and similar products as they pose health risk to people, especially the youth.
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