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Dev Accelerator is launching its IPO with a price range of Rs 56 to Rs 61 per share. The IPO will be open from September 10 to 12. The company aims to raise up to Rs 143 crore through this fresh issue. Proceeds will fund new centers and debt repayment. Shares will be listed on both BSE and NSE.
The GST Council{sin-quite}s sweeping rate cuts across sectors have ignited a market rally, with auto, FMCG, cement, insurance, and consumer durable stocks in sharp focus. Two-wheelers, small cars, cement, insurance, and packaged goods are now significantly cheaper. Analysts expect stronger consumption, improved margins, and GDP growth. Key beneficiaries include M&M, ITC, Hero MotoCorp, UltraTech, and SBI Life.
Tata Steel shares experienced a slight dip of 0.50% to Rs 167 on Thursday, following a strong 6% surge. This pullback occurs amidst ongoing optimism in the metal sector, fueled by anticipated firmer global steel prices due to China{sin-quite}s planned production cuts and India{sin-quite}s tariff protections.
Moschip Technologies{sin-quite} shares saw a significant rise. This followed Prime Minister Narendra Modi{sin-quite}s push for India{sin-quite}s semiconductor industry. He highlighted India{sin-quite}s potential in the global market at the Semicon India 2025 Summit. The government is working on the second phase of the India Semiconductor Mission. This aims to accelerate growth with new reforms. Investments have already reached Rs 1.
ITC Limited shares experienced a surge following the government{sin-quite}s GST revision. The GST Council is streamlining tax slabs, potentially benefiting ITC. Brokerages predict a possible reduction in ITC{sin-quite}s tax burden. A new 40% tax slab is proposed for certain goods. Experts believe this shift could lower prices and boost competitiveness against illicit markets.
The government{sin-quite}s GST reform has eliminated the 18% tax on insurance premiums, a move expected to boost insurance penetration in India. While policyholders will benefit from lower costs, insurers may face challenges in adjusting premium structures due to the loss of input tax credit, potentially squeezing profit margins, especially on renewal policies.
Bajaj Finserv and Bajaj Finance shares jumped following the government{sin-quite}s GST rate reduction on consumer durables like air conditioners and televisions. The GST cut, from 28% to 18%, is anticipated to stimulate retail demand, especially during the festive season. Bajaj Finance is expected to benefit from increased loan disbursals due to more affordable EMIs.
Indian stock markets are navigating between optimism and caution, supported by retail investor liquidity, according to Dipan Mehta of Elixir Equities. He suggests that a sustained upward movement hinges on earnings growth, which has been sluggish despite tax and rate cuts.
Zijin Mining Group is planning to list its international gold-mining division in Hong Kong. The IPO could raise over $3 billion. It may become the world{sin-quite}s second-largest IPO this year. Investor interest is strong due to high gold prices. The listing could happen this month. Zijin aims to increase gold production significantly by 2028.
Delta Corp and Nazara Technologies shares plunged following the GST Council{sin-quite}s approval of a 40% tax on casinos, betting, and online gaming. Delta Corp faced a 7.2% drop, while Nazara Technologies also experienced a decline. This decision comes after Delta Corp shelved its Goa resort-cum-casino project due to GST uncertainty.
Agri and dairy stocks like Parag Milk, Dodla Dairy, and Kaveri Seeds gained up to 7% after the GST Council slashed rates on fertilisers, farm machinery, and dairy products. The cuts, effective September 22, aim to ease costs for farmers and consumers.
The GST reset, initiated by Prime Minister Modi, aims to stimulate domestic consumption through rationalized rates and relief measures for households and businesses. Keki Mistry highlights its potential multiplier effect on the economy, particularly benefiting SMEs and the real estate sector.
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