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alas, we celebrated too soon I think.
Here is a fresh news.
ITC, Godfrey Phillips Drop Up To 4% Amid Reports Of GST Increase On Tobacco Products
Estimated GST raise it to 40% from 28% probably.
Just in news, lets see how this unfolds.
This has been always expected. When ever GOI wants to increase its Revenue, Cigarette industry is impacted, followed by High End Cars/SUV(s), then luxurious electronic items.
An investor always keep these negative factors on their Radar. It has happened during 2014-15-16 as well. There could be more correction in all Tobacco stocks.
ITC is diversified now but other companies might be more impacted.
My Analysis could be wrong as well but I have been through this journey earlier.
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Volume growth and numbers wise it seems to be improving, corporate governance remains an issue, listing some key links for the same below
Detailed blog by Vijay Malik Sir - https://www.drvijaymalik.com/godfrey-phillips/
Tweet by bastion - https://x.com/bastionresearch/status/1824466779176829260
Zerodha Markets - https://youtu.be/DZVxfg2qEG4?si=PX0oHi3N9XgAYgx6
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