Consumer stocks extend rally on tax cut; HUL, Asian Paints hit new high

In the past two trading days, these stocks have rallied in the range of 10 to 18 per cent, as compared to a 9 per cent gain in the benchmark S&P BSE Sensex.

Shares of consumer companies extended their gains logged on Friday, and jumped up to 11 per cent on the BSE on Monday, on expectation of an improved consumer demand after the government announced sharp cuts in corporate tax rates.

Hindustan Unilever (HUL), Nestle India, Asian Paints, Avenue Supermarts (D-Mart), Bata India, Berger Paints, Titan Company, Voltas and Colgate-Palmolive India were among the notable stocks that hit their respective fresh all-time highs on the BSE today.

In the past two trading days, these stocks have rallied in the range of 10 to 18 per cent, as compared to a 9 per