MNC shares in focus; Nestle scales fresh peak, HUL nears record high

SKF India, Abbott India, Britannia Industries, and Castrol India, from the Nifty MNC index were up in the range of 3 per cent to 5 per cent on the NSE.

Shares of multinational companies (MNCs) were in focus with Nifty MNC index gaining more than 2 per cent on the National Stock Exchange (NSE) on Monday after the government abolished the Dividend Distribution Tax (DDT) from company level and said it will now be taxed in hands of recipients.

Among individual stocks, Nestle India hit a new high of Rs 16,279, up 5 per cent today. Hindustan Unilever (HUL) surged 5 per cent to Rs 2,180 on the NSE. The stock of the fast moving consumer goods company (FMCG) giant was trading close to its all-time high level of