Mumbai: Shares of tobacco companies, ITC and Godfrey Phillips, fell by up to 4 percent Tuesday amid reports that Maharashtra has decided to ban sale of loose cigarettes.
ITC's scrip fell by 3.95 percent to Rs 318.90 on the BSE. During the day, it slipped 4.33 percent to Rs 317.60.
Shares of Godfrey Phillips went down by 2.61 percent to Rs 510 and Golden Tobacco lost 1.62 percent to Rs 39.40.
According to reports, the state health department yesterday announced a ban on sale of loose cigarettes, on grounds that there was no way to warn buyers of the dangers of smoking.
Meanwhile, the Chandigarh Administration late last month imposed a ban on sale of loose cigarettes and other tobacco products that do not carry specified health warnings on it.
Meanwhile, in the broader market, the BSE 30-share Sensex ended today with a sharp loss of 660.61 points at 27,188.38.
