SSPL WEALTH PVT LTD

Friday 21 Feb, 2025 08:26 PM

Agarwal Industrial bags bitumen supply contract from BPCL Pfizer partners with Mylan for marketing of Ativan and Pacitane One MobiKwik to acquire 3.39% stake in Blostem Fintech Religare Enterprises surges after Burman Family secures majority control Mahindra & Mahindra Ltd leads losers in 'A' group FCS Software Solutions Ltd leads losers in 'B' group DEV IT jumps on bagging order from Rajya Sabha Secretariat Volumes jump at Godrej Industries Ltd counter Consumer goods stocks edge lower Healthcare shares fall Auto stocks edge lower Auto stocks take a hit amid speculation of EV import duty cut M&M slumps on plans to invest in rights issue of listed subsidiaries Bandhan Bank Ltd soars 3.15% Jindal Stainless Ltd soars 1.96%

Saravan Stocks

Hot Pursuit

Scrips, which has significant changes during the market hours.

Tobacco stocks drop on buzz of likely GST hike

20-Feb-25 14:07 Hrs IST

Godfrey Philips India (down 4.71%), VST Industries (down 3.34%) and ITC (down 1.08%) declined.

Media reports suggest the government may increase the GST on cigarettes and other tobacco products once the compensation cess ends. Currently, these products, classified as sin goods, are taxed at 53% (28% GST plus other levies), short of the WHO's 75% target. A potential strategy is to raise the GST to the 40% limit and add an excise duty. Tobacco products, including cigarettes and pan masala, contribute significantly to government revenue.

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