Stocks From Electrical And Paint Space Trade Higher After GST Rate Cut

Posted By:
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The GST Council's bold move to cut rates on several products brought cheers to the Dalal Street in Monday's trading session. Havells India (up 8.39%), Bajaj Electricals (up 10.87%), Whirlpool of India (up 3.16%), Crompton Greaves Consumer Electrical (up 2.26%), Voltas (up 2.45%) were all seen trading higher after the GST rate on electrical goods was revised lower from the earlier 28% bracket to 18% slab rate. The list includes small TV sets, fridge, washing machines, laundry machines etc.

    Stocks From Electrical And Paint Space Trade Higher After GST Rate Cut

    At the same time, the Council also slashed rates on paints, varnishes, leather items among other goods. So, with the revision now only 35 items will remain in the highest tax bracket of 28% as against 226 items on July 1, 2017.

    The stock of Asian Paints also got a boost from the GST rate cut on paints and varnishes and traded higher by 2.12% but later in the afternoon session pared its early gains.

    Cigarette stocks that include ITC and Godfrey Phillips India also found traction with gains of 3.78% and 7.88% respectively as the GST Council this time around did not revised the cess on cigarettes.

    Meanwhile, Sensex was trading off day's high points due to selling in some major sectoral indices.

    Goodreturns.in

    Story first published: Monday, July 23, 2018, 13:40 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more