Godfrey Phillips shares rallied on Monday after ITC's June-quarter earnings and upbeat brokerage commentary lifted sentiment across the cigarette sector. Analysts believe the worst of the tax-led disruption may be over, although some remain cautious about margin recovery, pricing and the impact of illicit cigarette competition

ITC, Godfrey Phillips India, and VST Industries reported declines in net revenue, volumes and profitability

Leading Indian cigarette firms reported revenue and profit declines in the recent quarter. This downturn followed significant government tax increases on tobacco products. ITC,…

ITC shares rose 2% after the FMCG major reported June-quarter results, despite a 27% YoY decline in standalone net profit. Revenue grew 28%, while Nomura upgraded the stock to…