Shares of Gopal Snacks, Bikaji Foods and Prataap Snacks gained on Tuesday after the GST council cut rates on Namkeen.

What Happened: The GST council on Monday decided to cut the rate on namkeen and savoury products to 12% from 18%. Finance Minister Nirmala Sitharaman in a press conference said, “Decision on namkeens, extruded, expanded savoury food items – GST rate on these is being reduced prospectively from 18 to 12%,” during the press conference.

Extruded snacks may continue to get 18% GST while snacks and savoury items, like bhujia, could potentially be subject to a 12% GST. 

Gopal Snacks is an FMCG company that offers ethnic snacks such as nankeen, gathiya, wafers and extruded snacks.

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Bikaji Foods dabbles in snacks such as bhujia, namkeen, packaged sweets, papad and western snacks.

Prataap Snacks offers potato chips, extruded Snacks, namkeen and sweet snacks.

Price Action: Shares of Gopal Snacks rose 9.5% to an intraday high of ₹357.5.

Shares of Bikaji Foods International surged 7.77% to an intraday high of ₹899.8.

Shares of Prataap Snacks gained 7.78% to its intraday high of ₹877. 

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