Sensex Trades Higher; Reliance & Infosys Top Gainers

Share markets in India are presently trading on a positive note. Sectoral indices are trading in green with stocks in the IT sector and energy sector witnessing maximum buying interest.

The BSE Sensex is trading up by 257 points (up 0.7%), while the NSE Nifty is trading up by 77 points (up 0.7%). The BSE Mid Cap index is trading up by 0.5% and the BSE Small Cap index is trading up by 0.6%.

The rupee is trading at Rs 70.30 against the US$.

In the news from the FMCG sectorHindustan Unilever share price (HUL) is in focus today as the company is reportedly considering 'legal options' after GST anti-profiteering authority found it guilty of not passing on rate cut benefits to consumers.

As per an article in a leading financial daily, the National Anti Profiteering Authority (NAA) passed an order against the company on December 24, 2018 for depositing an amount of Rs 2.2 billion.

The NAA said HUL did not pass on the benefit of GST rate cuts to the consumers. In September, the regulator had ruled that suppliers would be liable to pay penalty for not passing the benefits of GST rate reduction on the sale of goods.

The NAA had stated before that the GST rate on many products was cut from 28% to 18%, HUL has not reduced the maximum retail price (MRP) of its products. The authority had found the company guilty of not passing on rate cut benefits of Rs 3.8 billion to consumers.

Earlier this year, the company voluntarily submitted Rs 1.6 billion as the profiteering amount to the government.

To know more about the company, you can read HUL Q2FY19 result analysis and HUL Annual Report analysis on our website.

Moving on to the news from the pharma spaceSuven Life share price is witnessing buying interest today on reports that the drug company has secured one product patent from Brazil and one product patent from Eurasia corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and patents are valid through 2023 and 2034.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.