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Summary of this article The new tax is expected to affect more than 100 million smokers in India ITC fell up to 14 per cent, while Godfrey Phillips declined as much as 21 per cent Cigarette costs are likely to increase by Rs 2.05-Rs 5.40 per stick ITC, Godfrey Phillips Share Price: Shares of tobacco companies continued to fall on January 2, 2026, after the government announced a new tax on cigarettes, which will come into effect from February 1, 2026

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