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Significant hike in tobacco tax rates have depressed volumes severely in the past, warned analysts
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Any higher taxes on cigarettes will result in a sharp decline in cigarette volumes for tobacco firms.
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The company's revenue from operations rose over 27 percent year-on-year to Rs 1,896 crore in Q3 FY25. Its revenue from operations stood at Rs 1,488 crore in Q3 of FY24.
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A stable taxation regime augurs well for sustained momentum and volume growth in the cigarette and tobacco business.
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While the benchmarks Nifty 50 and the Sensex ended the session in the red, the broader market outperformance, keeping the overall market breadth in favour of gainers.
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Godfrey Phillips' board will meet on September 20 to approve the bonus issue in the ratio of 2:1, implying that two bonus shares will be issued for each one share held.
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Once a boom is well started, it cannot be arrested. It can only be collapsed - John Kenneth Galbraith
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Stocks like Godfrey Phillips, Deep Industries, RBM Infracon, Granules India and Suven Pharma will also be in focus on Monday.
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Delhi HC directs Bina Modi to provide semi-annual disclosures regarding the remuneration and benefits she receives as MD of the company
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In Godfrey Phillips India, promoters own 72.58 per cent stake, in which the Modi family owns 47.48 per cent stake and the remaining 25.10 per cent is owned by Philip Morris Global Brands Inc.
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Its revenue from operations increased 22.86 per cent to Rs 1,197.13 crore during the quarter under review, up from Rs 974.40 crore in the corresponding period of the previous fiscal.
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Godfrey Phillips India produces a range of cigarette brands. The company also manufactures and distributes the global cigarette brand Marlboro in India through an arrangement with Philip Morris.
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Linde India formed strong bullish candlestick pattern on the daily charts with significantly higher volumes. The stock traded above all key moving averages and continued higher highs, higher lows formation for yet another session.
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Linde India has seen a nice breakout of downward sloping resistance trendline adjoining highs of October 12, 2023 and February 19, 2024. The stock formed long bullish candlestick pattern on the daily charts with above average volumes.
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Revenue from operations for the said quarter increased 30 percent to Rs 919.6 crore as against Rs 706 crore in the same quarter last fiscal.
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According to ICICI Direct, Buy Godfrey Phillips in the range of Rs 950.00–985.00 for target price of Rs 1140.00 with a stop loss of Rs 840.00. Time Frame: Six months.
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The company has said it will continue to expand chewing and confectionary product offerings to suit varying consumer tastes and preferences.
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Godfrey Phillips' denial of reports of stake sale by the promoter in the company evoked a strong response from Lalit Modi, who called the cigaretter-maker's reply "a complete eyewash".
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The company issued a clarification to exchanges following tweets by Lalit Modi where he said that all assets of the KK-Modi owned Modi Enterprises were up for sale
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We have collated a list of stocks which remained in focus on Wednesday because of their price action. The technical outlook is for the near to medium term.
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Risk-reward ratio is turning for the better on the back of a stable taxation regime for cigarettes and an improving business mix
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The company had reported a profit of Rs 43.11 crore in the January-March quarter a year ago.
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The move, a yearly practice by the exchange, is the interest of retail traders. The removal which is usually based on pre-defined criteria helps in maintaining liquidity in the instrument
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In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
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The 75 companies can return a median of 49 percent of their total cash and cash equivalents to their shareholders.
