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Shares of cigarette maker Godfrey Phillips India surged over 6% on Thursday to hit Rs 2,635 on the BSE, extending a three-day winning streak that has pushed the stock up 31%.The sharp rise follows media reports indicating that companies have raised prices to pass on higher costs to consumers. The price hikes are aimed at offsetting the recent excise duty increase, reducing the expected EBIT decline to around 2%, compared with earlier estimates of 8–15%.Godfrey Phillips India has raised the price of Marlboro Compact from Rs 9.5 per stick to Rs 11.5 per stick, according to a news report. ITC is likely to raise cigarette prices by 20–40% across brands, with fresh shipments expected to reach the market soon. Retailers are also selling existing inventory at higher prices.These developments follow the government's notification ending the GST compensation cess and rolling out a new tobacco tax regime on February 1, as reported by ETNow.Under the new framework, excise duties on cigarettes were restructured to a range of Rs 2,050 to Rs 8,500 per 1,000 sticks, alongside a 40% GST. This has materially raised the overall tax burden on cigarettes, triggering concerns over demand, margins, and the risk of increased illicit trade.Adding to the unease is a technical change in the National Calamity Contingent Duty (NCCD) announced in the Budget.The government raised the statutory NCCD rate on tobacco products from 25% to 60%, with effect from May 1, 2026. However, the Budget also clarified that the effective duty rate will continue at 25% through a notification, meaning there is no immediate increase in tax outgo for cigarette companies. In simple terms, this is not a tax hike today, but a future enabling provision. The government has created room to raise the duty later without changing the law again.Despite the recent rally, Godfrey Phillips share price is down over 10% since the beginning of the year. ITC, India’s largest cigarette maker, saw its share price edge marginally lower on February 19. VST Industries, on the other hand, rose 0.3%. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Prime Minister Narendra Modi on Thursday presented India’s “MANAV” vision for artificial intelligence at the New Delhi AI Impact Summit, laying out a human-centric framework that he said would guide the development of AI not just for India, but “for the welfare of humanity in the AI-based world of the 21st century.”Positioning India as a natural hub for this transformation, Modi highlighted the country’s diversity, demography and democracy. With one of the world’s youngest populations and a vast talent base, he argued that any AI model capable of succeeding in India’s scale and complexity can be deployed globally. He invited innovators to design and develop in India and “develop for the world.”Also Read: AI Summit 2026: 'A turning point in human history,' Modi says as humanity reaches its next big shiftAt the heart of his address was the detailed articulation of the MANAV doctrine. “Manav means human, and MANAV Vision says M- moral and ethical systems: AI should be based on ethical guidance. A- accountable governance means transparent rules, robust oversight; N- national sovereignty means whose data, his right. A- accessible and inclusive means AI should be a multiplier, not a monopoly. V- valid and legitimate means AI should be lawful and verifiable. This MANAV vision of India will become an important link for the welfare of humanity in the AI-based world of the 21st century...”Framing AI as a global public good rather than a competitive weapon, Modi called for urgent international norms to safeguard trust in the digital age. “…Let us pledge to develop AI as a global common good. A crucial need today is to establish global standards. Deepfakes and fabricated content are destabilising the open society.""In the digital world, content should also have authenticity labels so people know what's real and what's created with AI. As AI creates more text, images, and video, the industry increasingly needs watermarking and clear-source standards. Therefore, it's crucial that this trust is built into the technology from the start,” he added.The emphasis was clear: AI must be anchored in ethics, governed transparently, respectful of data sovereignty, accessible across societies, and legally verifiable. In short, powerful but principled.Modi acknowledged that the economic and social impact of AI remains uncertain. It is difficult to imagine what jobs will be created, he said, drawing a parallel with the early days of the internet boom when few foresaw the scale of transformation to come. The future of AI, he stressed, is not pre-determined -- it will be shaped by the decisions governments, companies and societies make now.Also Read: Humans and AI will ‘co-create and co-work’: PM Narendra Modi at India AI Impact Summit“Our future is like a new opportunity. This is the time for humans and intelligent systems to work together -- an era where humans and intelligent systems co-create and collaborate.”Using a simple analogy, he said that while GPS may suggest the route, the final decision rests with the driver. Similarly, AI may open pathways, but humanity must decide the destination. The direction taken today will define the character of tomorrow’s world.The summit, attended by representatives from over 100 nations and marked by strong participation from the Global South and young innovators, was described as a moment of historic transition. Unlike previous technological shifts that unfolded over decades, AI’s evolution is happening in real time.

Amaravati: Waaree Energies, a renewable energy company, will set up an integrated lithium-ion battery gigafactory in Andhra Pradesh at an outlay of over Rs 8,000 crore.The project will come up at Rambilli in Anakapalli district and is expected to generate around 3,000 direct jobs, said an official release on Thursday."Waaree Energies will establish India's largest integrated lithium-ion battery gigafactory in Andhra Pradesh. The project will come up at Rambilli in Anakapalli district with an investment of Rs 8,175 crore," said the release.With a capacity of 16 GWh, the greenfield facility will cover the complete battery value chain, including cell manufacturing, battery packs and large-scale Battery Energy Storage Systems (BESS).The project has received in-principle approval from the Andhra Pradesh State Investment Promotion Board, chaired by Chief Minister N Chandrababu Naidu.Andhra Pradesh Human Resources Minister Nara Lokesh said the project marks a significant milestone in Andhra Pradesh's clean-energy journey.Waaree battery gigafactory represents the next step in backward integration into advanced energy storage, it added.Large-scale battery manufacturing is essential for supporting renewable energy expansion, electric mobility and grid stability, while also enhancing India's strategic manufacturing independence.