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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian Share Market Opens Flat
Wed, 19 Oct 09:30 am

Major Asian stock markets have opened the day on a positive note with stock market in Taiwan and Singapore are trading higher by 0.8% and 0.3% respectively.

Stock markets in Europe and US ended their previous session on a positive note with benchmark indices in France ending their previous session trading higher by 1.3%.

The rupee is currently trading at 66.7 per US$.

One of the latest IPO, Endurance Technologies Ltd is set to get listed on the bourses today.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading marginally higher by 10 points (up 0.05%) and NSE Nifty is trading higher by 9 points (up 0.1%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.3% and 0.4% respectively.

Barring stocks from FMCG and telecom sector, major sectoral indices have opened the day in green with stocks from power sector are witnessing maximum buying interest.

As per an article in Livemint, the center has proposed a tiered rate structure for the purpose of goods and service tax (GST). The rates vary from a low of 4% on commodities like gold to a high of 26% PLUS cess on the so called sin goods.

The government has also proposed two standard rates of 12% and 18% to a majority of the taxable goods.

In the recent GST council meeting the government has also proposed a cess on the sin goods in order to fund the compensation to be paid to states for losses arising from a transition to GST. The other political parties are set to contest this proposal as levying of cess is in contradiction with the very concept of GST itself.

Further, we also believe that the tiered rate structure will complicate GST as it will lead to classification issues, in-turn leading to more litigation.

In another news update, road developers are increasingly shifting to bid for the Engineering Procurement Construction (EPC) contracts as compared to Build Operate Transfer (BOT) model.

Beneath EPC, a developer builds with the money provided by the government. While, under BOT- a developer builds with his own money, operates it for a specified duration to recover investments and make a profit and transfer it to the government.

EPC is an asset light approach model, while BOT is the opposite. Reportedly, a dozens of companies have shifted to an asset light model, as the sector tries to slough off heavy debt.

Increasing competition is being witnessed in the EPC space from small players, as this segment has low entry-barriers.

It will be interesting to see how the large players in this space tackle this competition from the emerging smaller players.

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May 22, 2017 (Close)

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