Godfrey Phillips zooms 13% on reports of cigarette price hike

Report says that the companies have raised prices in the wake of the recent VAT hike by Uttar Pradesh and Maharashtra governments.

Shares of cigarette makers surged up to 13% on reports that the companies have raised prices in the wake of the recent VAT hike by Uttar Pradesh and Maharashtra governments. 

Godfrey Phillips stock were higher by 14% at Rs. 804 on reports that company would raise cigarette prices by an average of Rs 12 per pack. 

While ITC stock were lower by 1% at Rs. 344. Report says that the company has hiked prices of all king-size cigarettes.