FMCG stocks, Aug. 29 -- The shares of fast-moving consumer goods (FMCG) makers such as Colgate, Britannia, Hindustan Unilever and ITC, among others, traded on a firm note on Friday in an otherwise muted Indian stock market. The gains in these FMCG stocks came as media reports suggested that the government is looking to slash goods and services tax (GST) on select consumer products to 5%.

According to a CNBC-TV 18 report, the central government has proposed lowering GST on face powder, hair oil, shampoo, toothpaste and soaps to 5%, thus driving a rise in stocks of these companies.

Colgate share price rose as much as 4% to the day's high of Rs.2,357.90 on the NSE. Britannia, ITC, Dabur, Patanjali Foods, Emami and Marico emerged as other t...