/ Textile Industry Hails GST Rates Bombay Dyeing Soars Nearly 10% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 5 June 2017

Bombay Dyeing, one of India’s largest producer of textiles soared nearly 10% on Monday, on the BSE as a reflection of the textile industry welcoming the decision of fixing reasonable GST rates to most of its categories. As per the GST rates for the textile category, 5% and 12% tax will be levied on products costing below Rs 1000 and over Rs 1000 respectively.

Manmade apparel costing below Rs 1,000 will also attract 5% tax and those costing above Rs 1,000 will continue to attract 12%.Bombay Burmah holds 15.28 stake in Bombay Dyeing. Bombay Dyeing Manufacturing Company Limited was trading at Rs 76.55, up by Rs 6.45 or 8.77% as at 14.42 on Monday, on the BSE. The stock had hit an intraday high of Rs 77.60.

Bombay Dyeing & Manufacturing Company Ltd is currently trading at Rs 76.1, up by Rs 6 or 8.56% from its previous closing of Rs 70.1 on the BSE. The scrip opened at Rs 70.25 and has touched a high and low of Rs 77.6 and Rs 70.1 respectively. So far 6185348(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1447.81 crore.

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