Nifty Could Run Up To 9,000, If GST Is Passed
This is the GST end game:-
This week the long-awaited Goods and Services Tax (GST) Bill is to be introduced to the Rajya Sabha and Q1 results continue to come in. Next Tuesday, Raghuram Rajan will chair his last policy review at the Reserve Bank of India. That will end the series of major central bank meetings after Brexit. This is the GST end game: Either it passes now or it is effectively shelved until the next general elections. Obviously, there will be a strong rally if GST does go through the Rajya Sabha and there appears to be little reason for it held up any more.
GST countdown begins; 18% rate to hit Ashok Leyland, Bharti Airtel, Parag Milk Foods among others
Telecom, banks, pharmaceuticals, services and consumer discretionary-related may face some heat with the passage of Goods and Services Tax (GST) as the current tax rate may go up to 18 per cent from 15 per cent if the indirect tax bill is passed. According to market experts, telecom companies such as Bharti Airtel, Idea Cellular and Reliance Communications may see marginal dip in consumption after the rise in tax rates.
Quick service restaurants such as Jubilant FoodWorks, Coffee Day Enterprises and Westlife Developments may also come under pressure if GST Bill is implemented. According to Chandan Taparia, analyst, Anand Rathi Financial Services, “Jubilant FoodWorks, Coffee Day Enterprises and other restaurant business will suffer with the passage of GST.”
GST Bill has been dominating news space ever since the monsoon session of Parliament began on July 18, impacting the movement of stocks in various sector, including logistics. For More Live Indian Stock Market Visit Now :- www.marketmagnify.com/freetrial.php or Just Missed Call @7879881122