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Halder advises investors to steer clear of tobacco stocks like ITC, Godfrey Phillips, and VST Industries for now, warning that they could "get their fingers burnt." However, Halder also notes that historically, companies have raised prices to offset tax increases, and their stock prices have eventually recovered

The institute concludes (link in Norwegian) that based on current knowledge, using e-cigarettes containing nicotine can have harmful health effects on, amongst other things, the respiratory tract and the cardiovascular system