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Wednesday, 19 July 2017

The tobacco maker on Wednesday gained marginally after its previous day's steepest fall of over 12%.

The stock was trading up by 1.49% at Rs 288.85 per share on BSE, attracting a total traded quantity of 6.75 lakh during the early hours.

The stock on Tuesday witnessed its steepest fall due to hiking of compensation cess on cigarettes by the GST Council. Despite falling in the 28% GST rate and 5% ad valorem on cigarettes, the additional cess will change as per the length of the cigarettes.

The stock has witnessed long built up position during Wednesday’s intraday trade.

Meanwhile, Nifty FMCG Index gained 0.77% or 196.45 points at 25,744 level and BSE FMCG index gained 0.92% or 91.64 points at 10,085 level.   

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