Indian snack makers rise on reports of govt tax cut

Prataap Snacks

10/09/2024 05:05

** Shares of India's Prataap Snack  PRAT.NS  and Gopal
Snacks  GOPA.NS  climb 5% each
    ** India's Goods and Services Tax council slashes tax rates
on snacks and savouries to 12% from 18%, media reports say
    ** PRAT, rated "buy" on average as per LSEG, is down 20%
YTD, while GOPA (not rated) is mostly flat since listing in
March

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))