New Delhi, Feb. 2 -- Godfrey Phillips, VST Industries, and ITC shares extended their losing run to the second straight session on Monday, February 02, falling 8%, 2.7%, and 2.4% respectively, following a minimum Rs.22-25 hike in cigarette prices per pack of 10 sticks on the implementation of additional excise duty from Sunday.

Earlier in January, the government imposed an excise duty on cigarettes, effective February 01, meaning consumers now need to spend more to buy the same pack of cigarettes.

The street is concerned that higher cigarette prices will impact sales and, in turn, the profitability of the companies. ITC generated 47% of its consolidated revenue from the cigarette segment during the December quarter.

According to a PTI r...