ITC Plunges 10% on New Cigarette Tax; Vodafone Idea, Ashok Leyland Gain

ITC shares plummeted 10% on Thursday, January 1, 2026, after the government announced a significant hike in cigarette excise duty. Other notable movers included Godfrey Phillips, which also tumbled, while Vodafone Idea and Ashok Leyland saw considerable gains due to positive company-specific developments. The broader Indian markets experienced a muted start to the new year.

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