Katya Naidu14 Jun 2023, 17:20
Shares in Indian tobacco and alcohol companies have thrived, buoyed by demand growth and enforcement agencies' efforts to crack down on the illicit tobacco trade, according to analysts. ITC, which continues to expand despite increasingly strict regulation around smoking, has been the star performer, as its legacy cigarette business remains a flagship. Godfrey Phillips also made strong gains in the last year, as did some alcohol companies, such as Radico Khaitan and United Spirits, which could see spending soar due to events and weddings.