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According to these regulations, sellers of ENDS products must register with the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), as well as get licensed by every state that they ship their products into

On April 1 the Tobacco Institute of India, an industry body, said its members would be shutting their factories owing to ambiguity over the rules, leading to estimated losses of 3.5 billion rupees ($53 million) a day

Given this, the stock could generate total returns of 6.6% per year, as the 6.0% dividend yield and 1.5% EPS growth will be somewhat offset by a declining valuation

It also covered the proposed retail licensing scheme and the proposed product registration scheme