The Indian stock market is upbeat after the Union Cabinet cleared the Goods & Services Tax (GST) Amendment Bill.
It is likely to be tabled in the parliament today. Once passed, GST is expected to transform India's indirect taxation system.
According to analysts, the Bill may take some time to get implemented given uncertainties at every step of launching it. It is also too early to quantify the gains/losses for specific companies and stocks.
It is a constitutional amendment bill and would need two-thirds majority in both houses of parliament, as well as the approval of at least half of state legislative assemblies.However, logistics companies, who appear to be one of the major beneficiaries of GST, have surged in trade today.
According to the brokerage, organized players such as Exide Industries BSE 4.22 %, Amara Raja Batteries BSE 4.15 %, Jubilant FoodworksBSE 2.25 %, Asian Paints BSE 1.93 %, Pidilite Industries BSE 1.72 %, Britannia Industries BSE 2.67 %, ITC BSE 0.16 % and Marico are expected to benefit from the bill.
"Some companies like M&M, PVR Cinemas and Dish TVBSE 3.35 % are also likely to benefit from lower GST rate versus the tax rate," the report said
It is likely to be tabled in the parliament today. Once passed, GST is expected to transform India's indirect taxation system.
According to analysts, the Bill may take some time to get implemented given uncertainties at every step of launching it. It is also too early to quantify the gains/losses for specific companies and stocks.
It is a constitutional amendment bill and would need two-thirds majority in both houses of parliament, as well as the approval of at least half of state legislative assemblies.However, logistics companies, who appear to be one of the major beneficiaries of GST, have surged in trade today.
"Some companies like M&M, PVR Cinemas and Dish TVBSE 3.35 % are also likely to benefit from lower GST rate versus the tax rate," the report said
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