Tobacco Tax Hike Hits Sector Hard, Elitecon International Limited’s Export-Led Model Shows Resilience
A sharp increase in excise duty on cigarettes, effective February 1, 2026, has triggered a broad sell-off across Indian tobacco stocks as investors reassess the outlook for domestic cigarette demand and profitability. The government has notified additional excise duties ranging from ₹2,050 to ₹8,500 per 1,000 cigarettes, over and above the existing 40 percent Goods…