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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.

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

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