Indian equities began 2026 on a muted note, with benchmark indices closing flat amid thin trading volumes and a lack of global cues. While the Nifty and Sensex saw minor movements, stock-specific actions dominated, particularly in the auto sector. The FMCG index faced pressure due to a decline in ITC shares following an excise duty announcement.
Farmers Fridge now has a 100,000-square-foot kitchen near Midway Airport and thousands of locations across 20 states selling salads to millions of customers.
The second major overhaul of the Capitol in just over a decade will include updated offices and enhanced security, as well as a refurbished Senate chamber finished last year.
Retailers have been asking customers for exact change as a federal decision to cease penny production has reduced circulation of the 1-cent coin even further.
ITC shares fell sharply on Thursday, erasing over Rs 50,000 crore in market value after a steep new cigarette tax spooked investors. The excise hikeon top of GSTmay force price increases of 15% or more, raising risks of volume loss and a shift toward illicit trade, analysts warned.
Jefferies warned that the sharp hike in cigarette excise duty is clearly negative for ITC in the near term, likely hurting volumes and earnings. The brokerage called the move a major negative surprise for the legal cigarette industry, estimating over a 20% rise in effective tax incidence, and said it increases policy uncertainty despite its continued positive stance on ITC.
