ITC Top Gainer In The FMCG Index Stock Gains Around 5%

FMCG companies have been cheering on the bourses as the GST council has announced the tax rates for the various items. As per the GST tax rates announced recently, the impact is very positive and signals that the mass consumption items will be taxed lower.

The FMCG companies would witness the huge boost in its consumption since the they now need to pay the lower taxes.

The Colgate Palmolive (India) Limited is trading higher by around 5.16% at Rs 1030.6 per share. The stock is the top gainer in the Nifty FMCG index. The FMCG heavyweight, ITC Limited has touched its fresh 52-week high of Rs 294.6 per share in the morning hours on Friday. The stock is trading at around Rs 292 per share higher by close to 5% as of 0941 hours on Friday.

ITC has attracted huge volumes of 1,05,54,767 shares and traded value of Rs 306.92 Cr as of 0941 hours on Friday.

The other FMCG stocks like Marico, Tata Global, Britannia, Emami Limited, Dabur and Hindustan Unilever are also gaining up to 3% in the first hour of Friday’s trade.

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About Suhani Varma

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