Published on 19/05/2017 12:29:56 PM | Source: Dion Global Solutions Ltd

ITC rises over 3% on GST boost

Posted in Stock On The Move | #ITC Ltd #GST #Stock On The Move #cigarettes

Shares of ITC jumped over 3 per cent on the Bombay Stock Exchange (BSE) after the GST Council finalized tax rates for bulk of the items except 6 categories.

Cigarette maker ITC's shares were in focus as the GST rates sprung no surprises for market and traders looked for clarity over tax on tobacco under the new indirect tax regime.

Cheering the news, shares of the company rose 3.88 per cent to Rs 288.85 apiece on Bombay Stock Exchange at 12:04 hours.

In a similar fashion, stocks of the company climb 3.78 per cent to Rs 288.40 apiece, or 10.50 points, on National Stock Exchange at 12:05 hours. Meanwhile, the broader benchmark BSE Sensex was trading at 30,390.64, down 0.15 per cent, or 44.15 points, at 12:07 hours.