Hit enter to search or ESC to close
New Delhi. During Budget 2023, the Finance Minister announced to increase the tax on cigarettes. With this announcement, the shares of cigarette companies fell by 5 percent in the Bombay Stock Exchange. According to the information, there has been a huge decline in the shares of Godfrey Phillips and ITC. During her budget speech, Finance Minister Nirmala Sitharaman increased the tax on cigarettes by 16 percent.
After this announcement, the shares of Godfrey Phillips fell by 4.92 percent, after which the share price came down to 1828.75. On the other hand, the share price of Gold Tobacco fell by 3.81 percent to 59.4 percent. ITC also registered a decline during this period and the company’s shares fell 0.78 percent to Rs 349. On the other hand, NTC Industries declined by 1.4 percent and VST Industries by 0.35 percent.
read this also: Share Market Live: Stock market salute to the budget, Sensex jumped 1058 points
On the other hand, there has been a boom in the market. There is rally in both Sensex and Nifty index. The Finance Minister announced to promote tourism under mission mode. After this news, there has been a strong rise in hotel stocks. Around 12.37 pm, the Sensex is trading at a level of 60607.64 with a gain of 1,057.74 points i.e. 1.78 per cent. On the other hand, Nifty is seen at the level of 17946.30 with an increase of 284.10 points i.e. 1.61 percent.
sensex up 500 pointsNifty is trading around 17800. Around 12 o’clock, the Sensex is trading at the level of 60056.22 with a gain of 506.32 points i.e. 0.85 percent. At the same time, Nifty is trading at the level of 17795.50 with a gain of 133.30 points i.e. 0.75 percent.
read this also: Income Tax 2023 Budget: 5 big announcements on income tax, tax will not be applicable till 7 lakhs, how much your tax will change
At the same time, there has been a slight decline in the prices of gold. The price of 22 carat gold has reached Rs 52,500 per ten grams in the bullion market on Wednesday. According to the GoodReturns website, earlier, as soon as the market opened, a drop of Rs 150 per ten grams was seen in the price of gold.
First read breaking news in Presswire18 News| Read today’s latest news, live news updates, most reliable News Website.
Tags: Budget, business news, cigarettes, Finance Minister Nirmala Sitharaman
FIRST PUBLISHED : February 01, 2023, 13:57 IST
Cryptocurrency Rate Today 7 December: Business is being seen again with a decline in the cryptocurrency market today. Weakness is being seen in the prices of both popular cryptocurrencies, Bitcoin and Ethereum. Weakness is...
Highlights: The CoC contains the details of name, address, passport etc. It contains the details of the company you are working with. The name and address of the country in which you are working...
Photo: File PM Modi Prime Minister Narendra Modi has given a big guarantee regarding the Indian economy on Wednesday. In the words of PM Modi, in the third term of his government, India will...