GODFRYPHLP.NSE

Godfrey Phillips India Ltd.

A meeting of the Tobacco Board held in Mysuru on March 2 saw elected representatives put pressure on traders, represented by ITC Limited, Godfrey Phillips India Limited, and others to increase prices and protect farmers’ interests.

Shares of cigarette maker Godfrey Phillips India surged over 6% on Thursday to hit Rs 2,635 on the BSE, extending a three-day winning streak that has pushed the stock up 31%.The sharp rise follows media reports indicating that companies have raised prices to pass on higher costs to consumers. The price hikes are aimed at offsetting the recent excise duty increase, reducing the expected EBIT decline to around 2%, compared with earlier estimates of 8–15%.Godfrey Phillips India has raised the price of Marlboro Compact from Rs 9.5 per stick to Rs 11.5 per stick, according to a news report. ITC is likely to raise cigarette prices by 20–40% across brands, with fresh shipments expected to reach the market soon. Retailers are also selling existing inventory at higher prices.These developments follow the government's notification ending the GST compensation cess and rolling out a new tobacco tax regime on February 1, as reported by ETNow.Under the new framework, excise duties on cigarettes were restructured to a range of Rs 2,050 to Rs 8,500 per 1,000 sticks, alongside a 40% GST.

Indian markets logged a third straight gain. E2E Networks and Netweb Technologies India jumped on Nvidia partnerships, while Godfrey Phillips, Easy Trip, Ola Electric saw sharp moves.

India’s equity benchmarks shook off a sluggish start to close higher on Wednesday, with financials and metal stocks leading the advance, while IT lagged on persistent uncertainty around AI and kept a lid on broader gains. The Nifty 50 rose 0.37% to 25,819.35 and the BSE Sensex added 0.34% to 83,734.25, their third straight day of gains. Both benchmarks opened flat and edged 0.2% lower in the early session, before staging a recovery in the final two hours of trade. Fifteen of the 16 major sectors rose. State-owned lenders added 1.3% after advancing 2.1% in the previous session. The heaviest-weighted financials rose 0.6%. Metals gained 1.3%, reversing previous session’s losses, after media reports quoted U.S. trade representative Jamieson Greer saying that Washington is open to simplifying steel tariffs amid industry pushback. Steel makers Tata Steel rose 2.9%, JSW Steel gained 0.7% and Steel Authority of India added 1.4%. The broader small-caps and mid-caps added 0.5% each. On the flipside, IT index fell 1.2%, pulling back from a 1% rise in the previous session.