Sharp excise duty hike to weigh on cigarette stocks; autos, banks offer better risk-reward: Nischal Maheshwari
A sharp excise duty hike on cigarettes is set to pressure cigarette stocks in the near term, while autos, banks and select metals offer better risk-reward for 2026, says Nischal Maheshwari. Price hikes, consumer downtrading and sector rotation could drive market moves as GST cuts, rate easing and consolidation reshape key sectors.