Outlook Of Nifty/bank nifty today
Nifty:
Nifty
Outlook:
As
India enters the final lap in preparation of the rollout of the Goods and
Services Tax, Finance Minister Arun Jaitley expressed confidence in the
proposed multi-tier GST rate structure and said he saw no reason why the
tax should not be rolled out on July 1. Still, Jaitley said tax rates for
several commonly-used items would fall. “Footwear tax has been brought
down. Tax rate for marble, granite has been lowered. The entertainment tax
weighted average currently is 29.1 percent. The GST rate is 28 percent,” he
said.
Nifty IT
Outlook:
The
promoters of Wipro Limited, India’s third-largest IT services company by
revenues, are in the early stages of evaluating the sale of the company or
some of its units and have approached investment banks to arrive at fair value,
a senior banking source told Money control.
Founder and
chairman Azim Premji and his family own just over 73 percent of the USD
7.7-billion company and are considering an exit in part or full, either to
a strategic buyer – a multinational IT services company – or a private
equity player. The promoters are understood to have sounded out more than
one investment bank on the potential for a deal.
Technical Outlook
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Tuesday 6 June 2017
Today's News Letter on Nifty
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