|Day's Range||3,252.05 - 3,361.10|
|52 Week Range||1,661.00 - 3,489.50|
|PE Ratio (TTM)||30.56|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||3,284.50|
India's Supreme Court on Wednesday told the tobacco industry to adhere to rules requiring stringent health warnings on cigarette packs, but ordered a state high court to hear all pleas challenging the same. The tobacco industry "should not violate any rule prevailing as of today," the two-judge bench said, and added that the Karnataka high court should hear all pleas challenging the new rules. Last month, Indian tobacco companies, some backed by foreign "Big Tobacco", shut down production in protest against requirements that 85 percent of a cigarette pack's surface be covered in health warnings, up from 20 percent.
Indian cigarette makers including ITC Ltd, part-owned by British American Tobacco, suspended production on Friday over what they said was ambiguity in the government's new health warning rules for packs, a leading industry body said. Rules that mandated 85 percent of a cigarette pack's surface to be covered in health warnings, up from 20 percent, kicked in from Friday after being delayed for a year.
A panel of Indian lawmakers will call for smaller health warnings on cigarette packs, saying the government's requirement of 85 percent of surface area is too harsh on the tobacco industry, sources who have seen the panel's draft report said. The decision is the latest twist in a tussle between the health ministry, which wants to step up an anti-smoking campaign, in line with the rest of the world, and members of parliament who fear lower sales will hurt tobacco farmers. Tobacco use is linked to 900,000 deaths every year in India, and the government had ordered manufacturers to print health warnings covering 85 percent of the surface of a cigarette pack, up from 20 percent now.