ITC (up 0.18%), Godfrey Phillips India (down 0.7%) and VST Industries (down 1.38%) declined.
Finance Minister Nirmala Sitharaman is presenting the Union Budget for the financial year 2022-23 in the Parliament today, 1 February 2022.
As per reports, a tax hike on cigarettes is a possibility as there have not been any hikes for the past two years. If the potential hike is in double-digits, it would be negative for cigarette companies. However, no announcement regarding sin goods will be positive news for these stocks.
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