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How many cigarettes are in a carton

That this is unique to defense and tobacco can be seen in the scatterplot below, where other high-quality businesses in technology and consumer staples, both stalwarts of the broad quality universe, are often expensively valued*: In addition to this unique combination, tobacco and defense have historically been reliable inflation shelters, rewarding investors with positive real returns during periods of higher inflation that more negatively impacted both their respective sectors and the broad market

Bringing in commercial quantities or purchasing out-of-state tobacco to avoid local taxes can create legal issues

Presently, more than 100 International smuggled cigarette brands are flooding the Indian market from all over the globe