Godfrey Philips

Six invoices issued by Godfrey showed billing of Rs 4.55 crore ($644,200) to Philip Morris between December 2013 and January 2018 for manufacturing-related charges.

Philip Morris has for years paid manufacturing costs to Godfrey Phillips to make its Marlboro cigarettes, circumventing a nine-year-old government ban on foreign direct investment in the industry.

Modi jr is the front runner in the race to be the next president of Rajasthan Cricket Association (RCA), a post held by his father, who faces a life ban from India's cricket board.

The proposal to completely ban foreign direct investment (FDI) in the tobacco sector has run into rough weather as NITI Aayog has raised certain issues on the plan.

The Supreme Court on Wednesday said the tobacco industry must adhere to government rules requiring stringent health warnings on cigarette packs, in a major setback for the $11-billion industry that opposes the new policy.

Tobacco shares fell sharply on Tuesday amid reports that the government may completely ban foreign direct investment (FDI) in the sector. Godfrey Philips India shares sank 17 per cent in morning trade, while index-heavyweight ITC traded 1 per cent lower.

Shares of cigarette makers like ITC, Godfrey Philips and VST Industries fell at least 2 per cent on Monday after they suspended production from Friday.

The companies, which are members of Tobacco Institute of India, who account for more than 98 per cent of the country's domestic sales of duty paid cigarettes in India claimed the estimated production revenue loss of over Rs 350 crore per day for the tobacco product manufacturers.

As bigger pictorial warnings on tobacco products became mandatory from today, cigarette companies announced they were stopping production, citing "ambiguity" on the issue. The move will result in an estimated loss of Rs 350 crore a day in turnover for the tobacco industry.

Cigarette makers such as ITC, VST Industries and Godfrey Philips India will be closely watched for excise duty announcement on tobacco products.

The government-appointed Arvind Subramanian panel's recommendation of a steep 40 per cent tax on tobacco products triggered a selloff in cigarette makers such as ITC, Godfrey Philips and VST Industries.

During the quarter under review, overall expenses stood at Rs 516.71 crore as against Rs 584.07 crore, down 11.53 per cent in the corresponding period last year.

Analysts say its revenues have been affected because of increase in excise duty on cigarettes. The company had paid an excise duty of Rs 454 crore during the quarter as against Rs 452 crore last financial year.

Tobacco companies such as ITC and Godfrey Philips India fell sharply on Wednesday as the government moved to amend the anti-smoking law, which proposes radical changes such as banning sale of loose cigarettes and raising the minimum age of a person buying tobacco products to 21 years from existing 18.

Shares in cigarette manufacturer ITC jumped 2.5 per cent on Monday as traders said the removal of Dr Harsh Vardhan from the Health Ministry is a positive for the tobacco industry. Dr Harsh Vardhan was shifted to the more low-key Science and Technology and Earth Sciences Ministry in the Cabinet reshuffle announced on Sunday.

Six invoices issued by Godfrey showed billing of Rs 4.55 crore ($644,200) to Philip Morris between December 2013 and January 2018 for manufacturing-related charges.

Philip Morris has for years paid manufacturing costs to Godfrey Phillips to make its Marlboro cigarettes, circumventing a nine-year-old government ban on foreign direct investment in the industry.

Modi jr is the front runner in the race to be the next president of Rajasthan Cricket Association (RCA), a post held by his father, who faces a life ban from India's cricket board.

The proposal to completely ban foreign direct investment (FDI) in the tobacco sector has run into rough weather as NITI Aayog has raised certain issues on the plan.

The Supreme Court on Wednesday said the tobacco industry must adhere to government rules requiring stringent health warnings on cigarette packs, in a major setback for the $11-billion industry that opposes the new policy.

Tobacco shares fell sharply on Tuesday amid reports that the government may completely ban foreign direct investment (FDI) in the sector. Godfrey Philips India shares sank 17 per cent in morning trade, while index-heavyweight ITC traded 1 per cent lower.

Shares of cigarette makers like ITC, Godfrey Philips and VST Industries fell at least 2 per cent on Monday after they suspended production from Friday.

The companies, which are members of Tobacco Institute of India, who account for more than 98 per cent of the country's domestic sales of duty paid cigarettes in India claimed the estimated production revenue loss of over Rs 350 crore per day for the tobacco product manufacturers.

As bigger pictorial warnings on tobacco products became mandatory from today, cigarette companies announced they were stopping production, citing "ambiguity" on the issue. The move will result in an estimated loss of Rs 350 crore a day in turnover for the tobacco industry.

Cigarette makers such as ITC, VST Industries and Godfrey Philips India will be closely watched for excise duty announcement on tobacco products.

The government-appointed Arvind Subramanian panel's recommendation of a steep 40 per cent tax on tobacco products triggered a selloff in cigarette makers such as ITC, Godfrey Philips and VST Industries.

During the quarter under review, overall expenses stood at Rs 516.71 crore as against Rs 584.07 crore, down 11.53 per cent in the corresponding period last year.

Analysts say its revenues have been affected because of increase in excise duty on cigarettes. The company had paid an excise duty of Rs 454 crore during the quarter as against Rs 452 crore last financial year.

Tobacco companies such as ITC and Godfrey Philips India fell sharply on Wednesday as the government moved to amend the anti-smoking law, which proposes radical changes such as banning sale of loose cigarettes and raising the minimum age of a person buying tobacco products to 21 years from existing 18.

Shares in cigarette manufacturer ITC jumped 2.5 per cent on Monday as traders said the removal of Dr Harsh Vardhan from the Health Ministry is a positive for the tobacco industry. Dr Harsh Vardhan was shifted to the more low-key Science and Technology and Earth Sciences Ministry in the Cabinet reshuffle announced on Sunday.