The GST council on Friday announced major cuts in taxes of various items and announced several measures to support exporters and small businesses, three months after the new taxation system was launched. The move, cheered by all, is likely to have a major impact on related sectors.
A slew of events are lined up for this week too, including the starting of the Q2 earnings season. Let us have a look at some of its announcements:
India’s industrial production (IIP) data for August will be unveiled on October 12, 2017. IIP rose 1.2% in July 2017 year-on- year, while snapping 0.2% fall for June 2017. The govt will also announce Consumer Price Index (CPI) numbers for Sept on October 12, 2017. CPI-based inflation rose 3.36 % in August 2017, higher than 2.36% in July 2017.
Two big IPOs to hit the Street this week:- General Insurance Corp of India is all set to emerge its mega Rs 11,370 crore IPO on October 11. This would be India’s second biggest public offer ever after Coal India’s Rs 15,200 crore issue in October 2008. Another one, Indian Energy Exchange (IEX) has set a price range of Rs 1,645 to 1,650 per share for its IPOs that opens today to raise up to Rs 1,001 crore.
The Q2 earnings season for the second quarter of India Inc will start this week. Among top companies, IT major TCS and IndusInd Bank are expected to announce Q2 results on Thursday, while Kotak Mahindra Bank will unveil its results on Friday.