You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Cigarette stocks rise after Lok Sabha passes bill to ban e-cigarettes in India

Capital Market 

Cigarette stocks climbed after a bill to ban the production, import and sale of electronic cigarettes was passed by the Lok Sabha on Wednesday, 27 November.

Godfrey Phillips India (up 6.06%), Golden Tobacco (up 1.41%) and VST Industries (up 1.26%) advanced.

Cigarette major, ITC was trading 0.66% lower at Rs 247.45.

The Prohibition of Electronic Cigarettes (Production, Manufacture, Import, Export, Transport, Sale, Distribution, Storage and Advertisement) Bill, 2019, seeks to replace an ordinance issued on 18 September 2019.

Health Minister Harsh Vardhan, who had moved the bill for consideration and passage, defended the ban, telling the house that vaping is harmful for the health of the people.

An electronic cigarette or e-cigarette is a handheld battery-powered vaporizer that simulates smoking, but without burning tobacco. E-cigarettes are heated and the vapors of nicotine as well as the flavours are then inhaled. Using an e-cigarette is known as "vaping".

Meanwhile, the NSE Nifty 50 index was trading 0.4% higher at 12,086.40.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 27 2019. 14:58 IST