|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||267.10 - 270.90|
|52 Week Range||222.05 - 353.20|
|PE Ratio (TTM)||32.77|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Indian government has threatened Philip Morris International Inc with "punitive action" over the tobacco giant's alleged violation of the country's anti-smoking laws, according to a letter sent to the company by the federal health ministry. The letter was prompted by a Reuters investigation last month that revealed how Philip Morris was deploying marketing tactics in India, some targeting young people, that officials said were illegal. The letter cites the Reuters story in the opening paragraph, listing Philip Morris' marketing methods as outlined in the article, including cigarette advertisements at kiosks, the free distribution of Marlboro smokes at nightclubs and bars, and the use of TV screens to promote the world's best-selling cigarette brand at these events.
The state government in India's capital told Philip Morris International Inc and other tobacco companies on Saturday to remove all advertisements from tobacco shops in the city, warning them of legal action if they do not comply. The order, sent by Delhi state's chief tobacco control officer S. K. Arora, comes days after Reuters reported that Philip Morris was promoting Marlboro cigarettes, the world's best-selling brand, by advertising them at tobacco shops and distributing free cigarette samples.
ITC Ltd., Asia’s second-largest cigarette maker by value, plunged the most in 25 years after India surprised investors by raising levies on tobacco products.