ITC, Godfrey Phillips, VST Industries in focus as Budget 2025 leaves tobacco taxes unchanged
ITC, Godfrey Phillips, and VST Industries will be in focus on Monday, February 3, after the Finance Minister kept excise duty/NCCD on cigarettes and other tobacco products unchanged in the Union Budget 2025–26.
With no tax hike on cigarettes in the finance bill, Finance Minister Nirmala Sitharaman confirmed that tobacco taxation will remain steady.
On Budget day, ITC shares closed 3.3% higher at Rs 462, while Godfrey Philips India surged 9.8%, and VST Industries gained 1.4%. The rally was also fueled by the government’s announcement that income up to Rs 12 lakh will be tax-free, a move expected to boost household income and drive demand for consumer staples.
ITC shares have been in focus following the demerger of its hotels business, which recently debuted on the bourses. Among 37 analysts covering ITC, 32 recommend a 'Buy,' three suggest 'hold,' and two have a 'sell' rating.
Brokerage views on ITC post Budget 2025
Jefferies
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