Corporate tax cut impact: FMCG stocks rally; ITC surges 9%, Colgate up 7%
Updated : September 23, 2019 11:02 AM IST
Nifty FMCG gained as much as 6.6 percent in intra-day deals on Monday as investors cheered corporate tax cut.
The sentiment remained positive as most brokerages believe tax cut would help drive earnings for the sector.
ITC rose as much as 9.3 percent to Rs 260.30 per share on tax cuts, no GST hike in tobacco rates and cut in GST for hotels.