Hindustan Unilever shares up on GST boost

Hindustan Unilever shares up on GST boost

19/05/2017 13:02

Shares of Hindustan Unilever rose over 1 per cent on the Bombay Stock Exchange (BSE) after the GST Council finalized tax rates for bulk of the items except 6 categories.

Items such as cereals, which were taxed earlier at 5 per cent, will now be zero-rated. Coffee, sugar, tea and edible oil will attract a lower GST rate of 5 per cent. Capital goods, a key asset for the manufacturing sector, will be taxed at 28 per cent. Several daily-use items such as hair oil, toothpaste and soap have been kept in the 18 per cent – slab instead of at 28 per cent.

Cheering the news, shares of the company rose 1.91 per cent to Rs 1006.30 apiece on Bombay Stock Exchange at 13:00 hours.

In a similar fashion, stocks of the company climb 1.89 per cent to Rs 1,009 apiece, or 18.75 points, on National Stock Exchange at 13:00 hours.

Meanwhile, the broader benchmark BSE Sensex was trading at 30,442.21, up 0.02 per cent, or 7.42 points, at 13:01 hours.

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