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In practical terms, a 10 percent increase in cigarette prices results in only about a 4 percent decline in consumption
Delayed Healing: Smoking decreases blood flow and reduces oxygen levels in the healing area, which can delay tissue regeneration and recovery
It said the hike in excise duty on cigarettes would "hurt industry volume and upset ITC's earnings" as the regulatory stance towards tobacco consumption has changed "from rational to one that curbs consumption".JP Morgan, one of the foreign broking majors in India, cut ITC's target price by 21% to Rs 375, from Rs 475
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Hopper JA, Craig KA
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