Colgate India, Dabur rise while ITC, Godfrey fall on media reports of GST changes

ITC

02/07/2025 11:06

Updates

** Consumer staple producers Colgate-Palmolive India COLG.NS and Dabur DABU.NS close 1% higher

** Indian government considering eliminating the 12% goods and services tax slab and reclassifying many items taxed at that bracket into the lower 5% bracket, NDTV reports

** Restructuring would target items such as toothpastes, umbrellas, sewing machines, kitchen utensils, report says

** Meanwhile, cigarette makers ITC ITC.NS and Godfrey Phillips GDFR.NS close 0.5% and 0.3% down, respectively

** NDTV reports separately that GST on cigarettes, carbonated drinks and high end cars may go up

** A proposal to replace compensation cess with health and green cess is under consideration, report adds

** YTD, COLG shares down ~9% while Dabur down 3.8%

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))