HSIL Share Price touched a new 52 week high of Rs 337.70 in today’s trading session in anticipation from the benefit it could derive from GST (Goods and Service Tax).
HSIL derives nearly 50 per cent of its top-line from the Faucets & Sanitaryware business. Over 70 per cent of the domestic Packaging market in India is dominated by unorganised players (with >40,000 smaller market participants). Currently the unorganized players do not come under the tax bracket and the price of the end product manufactured by them gives serious competition to HSIL. On implementation of the GST, the pricing differential between products of organised as well as unorganised players will narrow down and companies with strong brand names like HSIL will benefit. The decided rate of the GST will be applicable for both the organised and unorganised players. HSIL is currently paying around 30 per cent tax which is likely to reduce after the implementation of GST whereas the unorganised will have to pay the taxes at the same rate that they are not paying at the present.
After the GST bill was tabled in Rajya Sabha, HSIL share price has gradually grown over the last few trading sessions. Today, it is currently trading at Rs 333.80, up by 3.65 per cent after making an intraday high of Rs 337.70. The intraday low so far has been Rs 324.95. The share price opened at Rs 325.00 this morning from a previous closing of Rs 322.05. A total of 1,95,618 shares of the Company has been traded so far on NSE accounting to a total value of Rs 653.15 lacs in today’s trading session. HSIL is a Dynamic Levels recommended Multibagger stock. Please visit HSIL share price forecast to get all the important support and resistance level of the share.
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