ITC Crashes 10%! The Government Just Dropped a Tax Bomb on Tobacco...01-Jan-26

The Nifty stayed flat, but for tobacco investors, today was a bloodbath. ITC and Godfrey Phillips tanked over 10% in a single session. Why? The government just unleashed a new tax regime: 40% GST and a steep excise duty hike up to ₹8,500. Billions in market cap were wiped out in hours. Is this the end of the road for tobacco stocks, or a buying opportunity in the wreckage? Plus, amidst the chaos, GST collections hit ₹1.74 Lakh Cr—proof the economy is booming while stocks bleed. Sanket Bendre breaks down the damage.