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HUL Shares Surge on GST Rate Cuts Benefiting FMCG Sector
HUL Shares Surge on GST Rate Cuts Benefiting FMCG Sector
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BTCCSquare news:
Hindustan Unilever Limited (HUL) shares climbed 1.19% to ₹2,696.30 in morning trading after the GST Council approved rate rationalizations expected to significantly boost the FMCG sector. The reforms slash taxes on essential goods like hair oil, shampoo, and toothpaste from 18% to 5%, directly benefiting HUL's Core product lines. Bread becomes GST-exempt, while pasta and noodles see rates halved to 5%.
Analysts at CLSA and Goldman Sachs flagged HUL as a top beneficiary alongside peers like Britannia and Dabur. The timing aligns with India's festive demand surge, with UBS noting the measures could amplify seasonal spending. Trading volumes hit 11.35 lakh shares worth ₹308.44 crore by mid-session, reflecting heightened investor interest.
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