Tobacco on tenterhooks after Harsh Vardhan's appointment as health Minister

Investors in tobacco companies are a worried lot following Harsh Vardhan’s appointment as Union health minister. Shares of ITC and Godfrey Phillips fell on Friday following the portfolio announcement of Cabinet ministers. Vardhan has been at the forefront of the battle against tobacco and drug abuse and in the enactment of several laws, including the Delhi Prohibition of Smoking in Public Places. “Usually investors in tobacco stocks are worried about imposition of higher taxes. Now, they also have to worry about steps the health ministry might take to cut down the consumption of cigarettes,” said an analyst.

Sundar Sethuraman

Tough