ITC trades firm on GST rate expectation @ 40 per cent for tobacco
DSIJ Intelligence / 03 Nov 2016
GST council meet to be held today will be finalising the GST rate. GST panel may fix the GST rate at 5 per cent, 12 per cent, 18 per cent and 28 per cent as per media reports.
GST council meet to be held today will be finalising the GST rate. GST panel may fix the GST rate at 5 per cent, 12 per cent, 18 per cent and 28 per cent as per media reports.
It is also expected that the rate for tobacco will be fixed at 40 per cent.
ITC stock has reacted positively to the news reports of GST rate being fixed at 40 per cent. The stock is trading at Rs 239.50 per share on NSE and is up by almost Rs 2.20 per share or 0.93 per cent on Thursday. The 52-w high for the stock is at Rs 265.90 per share. The stock is up by almost 6.5 per cent over one year.
Godfrey Philips on the other hand is trading marginally positive on an intraday basis on Thursday.
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