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总结
印度政府宣布上调卷烟相关税负/消费税，市场预期2月1日起卷烟零售价格将上调并影响行业需求。受税负提高冲击，烟草股继续走弱，印度主要香烟制造商ITC股价当日下跌逾5%，并被报道触及约三年来低位。券商与市场担忧提税将压缩公司销量与利润率、增加提价难度，短期业绩指引和估值面临下修风险，相关政策信号也引发对其他烟草企业及消费端价格压力的关注。
正文
Indian Cigarette Maker ITC Slumps After India Raises Tobacco Tax Bloomberg.com Tobacco stocks continue to slide; ITC shares drop over 5% The Hindu Tax shock: ITC shares hits 3-year low after cigarette duty hike; what brokers fear next Times of India UPSC Mains Current Affairs for 2 January 2026 Vajiram & Ravi Cigarettes to cost more from February 1. Here's how new rates will be decided India Today
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