ITC shares corrected sharply by 6 percent during the day but later recovered to trade with 0.6 percent losses at Rs 351.

The government left this duty untouched for 2 years. In the Budget for FY21, the NCCD was raised by 2-4 times across cigarette stick sizes, resulting in tax hikes of 9-15%.

Further, rising input RM/PM could weigh high on margins in Q4 in our view. Considering weaker Q3, the brokerage slashes its earnings and retain BUY rating, with a revised DCF-based TP Rs4,026 (implying 18.3x avg. FY24E/FY25E EPS).

ICICI Direct recommended hold rating on VST Industries with a target price of Rs 3300 in its research report dated January 27, 2023.

The company is losing market share due to its insignificant presence in high priced cigarettes segment.

The ace investor has picked stakes in three new companies 3M India, Andhra Paper, and United Breweries during the December quarter, while he reduced positions in Blue Dart Express, BF Utilities and VST Industries.

The company also operates under the names Total, Charms, Charminar, Editions, Special, and Moments, which make it the second-largest cigarette manufacturing company in India.

ICICI Direct recommended hold rating on VST Industries with a target price of Rs 3725 in its research report dated November 09, 2022.

On the other hand, shares of India Cements were 5.35 per cent lower at Rs 239.90 over its last days closing of Rs 253.45 a piece. The stock has risen nearly 23 per cent in the past year while it has fallen about 17 per cent in the last week.

With a wealth of Rs 1.75 lakh crore, the 67-year-old Mumbai-based business magnate moved up two ranks to take the fifth spot in the rich list which is dominated by Gautam Adani and Mukesh Ambani. In the last five years, the wealth of Damani has increased by 280 per cent or Rs 1,28,800 crore. Data from the rich list shows that he earned Rs 57 crore every day and his wealth jumped 13 per cent in the last one year period.

ICICI Direct recommended hold rating on VST Industries with a target price of Rs 3424 in its research report dated July 31, 2022.

VST Industries Ltd., incorporated in the year 1930, is a Mid Cap company (having a market cap of Rs 5095.83 Crore) operating in Tobacco sector.

VST Industries Ltd., incorporated in the year 1930, is a Mid Cap company (having a market cap of Rs 4847.22 Crore) operating in Tobacco sector.

Net Sales are expected to increase by 12.2 percent Y-o-Y (up 2.2 percent Q-o-Q) to Rs 308.7 crore, according to ICICI Direct.

Mindtree, Tata Metaliks, Rajnandini Metal, Global Education, Premier Polyfilm, International Travel House, Gujarat Hotels and Ramasigns Industries are among companies that will announce their quarterly earnings today.

The ban on single-use plastics, which was announced last year, has come into effect from Friday.

Erstwhile chief executive Sandeep Kaul has become a corporate management committee member for ITC overseeing businesses like tobacco, matches and agarbatti, and the start-up cell.

ICICI Direct recommended hold rating on VST Industries with a target price of Rs 3425 in its research report dat April 26, 2022.

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Net Sales are expected to increase by 18.5 percent Y-o-Y (up 0.3 percent Q-o-Q) to Rs. 329.2 crore, according to ICICI Direct.

According to the company's most recent regulatory filing, the investor purchased around 12,000 equity shares of VST Industries between January and March.

VST Industries Ltd., incorporated in the year 1930, is a Mid Cap company (having a market cap of Rs 4798.27 Crore) operating in Tobacco sector.

Radhakishan Damani is the fourth richest Indian, with a net worth of $29.4 billion, as per Forbes.

Heading into the Budget, some market participants had expected the government to raise taxes on cigarettes in order to boost its revenues by means of a Covid-19 cess or an increase in the National Calamity Contingency Fund.

ICICI Direct recommended hold rating on VST Industries with a target price of Rs 4200 in its research report dated January 21, 2021.