Up in smoke? Tobacco stocks struggle as costs rise, tax jitters grow
Source: Live Mint “Tobacco prices have gone up 20% in the last seven months and competition has intensified in the industry lately. So, cigarette prices won’t rise drastically either and margins will remain subdued in Q4 (for ITC),” said Devarsh Vakil, head of prime research at HDFC Securities. ITC, India’s largest cigarette maker, reported a…