Tata group stock Trent Limited gained over 3% in intraday deals on Friday, August 29, boosted by media reports that the government has proposed to hike the threshold for readymade garments, attracting 5% goods and services tax (GST) rate.
According to a report by CNBC-TV18, the government of India has floated a proposal to hike the price threshold for readymade garments, attracting 5% GST to ₹2,500 from ₹1,000 earlier, thus boosting the shares of Trent by over 3% in intraday deals today.
As a result, Trent emerged as the top-performing Nifty 50 stock. The gains came even as the Indian stock market traded on a muted note, with investors remaining on the sidelines amid the tariffs imposed by the US on Indian goods.
