New Delhi, Aug. 20 -- Shares of Godfrey Phillips India regained strength in Wednesday's intraday session, rising 13.5% to reach Rs.11,130 apiece after being under pressure in recent trading sessions. Earlier this month, the stock saw a stellar rally following the release of the company's June-quarter results, which pushed it past the Rs.11,000 mark for the first time and to a new all-time high of Rs.11,444 apiece.
However, the rally fizzled out, and a sell-off deepened after reports suggested that the Centre will retain a 40% GST slab on "sin goods," which includes cigarettes. The government last week announced plans for sweeping changes to the goods and services tax (GST) regime.
According to media reports, the proposed GST revamp woul...
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