Shares of cigarette companies rally after govt bans e-cigarettes

Shares of cigarette makers surged on Wednesday after the Union Cabinet passed an ordinance banning the production, import and sale of e-cigarettes. Shares of ITC, Godfrey Phillips India, VST Industries and Golden Tobacco climbed 2.2%-9%. The Association of Vapers India said the ban would deprive millions of smokers of a safer solution to cut back on smoking.