Nifty Outlook:
The
GST council on Friday fixed rates for a host of services, placing them
under four slabs—5,12,18 and 28 percent—as India’s plans for a
country-wide goods and services tax (GST) entered the final leg. Under
GST, supply of food and drinks in outdoor catering attract a tax rate of
18 percent, while entry into IPL matches and race courses will attract a
28 percent GST. Renting of hotels, inns, guest houses, clubs, campsites
or other commercial places meant for residential or lodging purposes
where room tariff of Rs 2500 and above, but less than Rs 5000 per room
per day, will also attract a GST rate of 18 percent. Bundled service by
way of supply of food or any other article of human consumption or any
drink, in a premises (including hotel, convention center, club, pandal,
shamiana or any other place, specially arranged for organizing a
function) together with renting of such premises will be under the 18
percent GST slab.
Bank Nifty Outlook:
The
healthy growth in net interest income (the difference between interest
income and expenses) by over 17 percent was aided by over 7 percent
growth in advances and only a marginal decline in net interest margin.
Margin, nevertheless, witnessed a small uptick sequentially. Other
income was somewhat stagnant on a year-on-year basis, but the control on
costs as reflected in the lower cost-to-income ratio drove the
greater-than-12 percent growth in operating profit. Finally, the lower
provision compared to the year-ago quarter resulted in significant jump
in the headline profitability number.
Nifty Trends
|
| R1 | 9465 |
| R2 | 9500 |
| S1 | 9370 |
| S2 | 9280 |
|
|
Technical Outlook:
Top Gainers
|
| ITC | 286.40 |
| YESBANK | 1,430.35 |
| AXISBANK | 501.90 |
| SBIN | 308.95 |
| HINDUNILVR | 1,004.10 |
Top Losers
|
| ASIANPAINT | 1,131.00 |
| BPCL | 703.50 |
| EICHERMOT | 27,915.00 |
| HINDALCO | 191.50 |
| TCS | 2,503.85 |
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