From the 30-Sensex firms, ITC tanked 9.69 per cent, following Bajaj Finance, Asian Paints, Bharat Electronics and ICICI Bank. In contrast, NTPC, Eternal, Mahindra & Mahindra, Larsen & Toubro and Power Grid were among the gainers.
Unresolved succession plans and informal ownership structures are fuelling bitter family fights across India's corporate boardrooms.
'Everything can be resolved, but my husband's legacy is not up for sale.'
Do you think carrying pictorial warnings on Indian cigarette packets will discourage desi smokers? Tell us what according to you will reduce smoking amongst young Indians.
India's tobacco majors ITC and Godfrey Phillips India (GPI) have stopped production of cigarettes in view of uncertainty over the sort of pictorial warnings that needed to be carried on tobacco products starting this month.
Giving in to the demand of the tobacco industry, the government on Tuesday decided to retain the existing pictorial warnings on cigarette and bidi packages for one more year.
With a view to expand globally following stringent regulations on smoking and its advertisements in the country, Godfrey Phillips India is launching its first international brand of cigarette -- Force 10 -- in the African continent next month.
ITC has introduced differentiated cigarettes like Gold Flake Indie Mint, Gold Flake Neo and Classic Rich & Smooth in the premium end. Godfrey, too, introduced flavoured variants like Four Square Clove Crush in the mid-tier segment and has seven variants of the Marlboro brand for India.
The stock was the worst hit among Sensex and Nifty components.
Phillip Morris says its research shows that the product while giving the same delivery of nicotine to smokers, does not produce the toxic and carcinogenic effects of cigarette smoking known as harmful and potential harmful constituents.
Currently, 40 per cent of the front and back panel of cigarette packs is covered with warnings.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
Over 900 listed firms yet to comply with new Sebi requirement due in less than 90 days
The BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.6% and 1.1%, respectively
Five of these have wound up since, according to records of the Ministry of Corporate Affairs
Tata Steel, SBI, Infosys and L&T were among the top gainers for the day.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
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