Indices at previous closing
Nifty50: 17,585 ▼-44 (-0.2%)
Sensex: 59,015 ▼-125 (-0.2%)
Nifty Bank: 37,811 ▲+143 (+0.3%)
In the news
Zomato to collect and pay GST
Effective from 1 January, 2022, food delivery companies such as Zomato will have to collect 5% Goods and Services Tax (GST)from consumers and deposit with the government on behalf of the restaurant partners.
This move indirectly brings several restaurants which were not paying taxes under the GST net and thus preventing any revenue leakage. Shares of recently listed Zomato were down 2.7% on Friday but the news came over the weekend.
Airlines to operate at higher capacity
The government has given a nod to domestic airlines to operate at 85% of their pre-pandemic capacity, up from 72.5% allowed earlier. This comes at a time when air traffic is picking up as the restrictions on mobility have been eased and new cases are under control.
In August, the domestic air passenger traffic rose 34% month-on-month to 67 lakh. Meanwhile, shares of Indigo (+10.3%) and SpiceJet (+3.6%) made strong gains on Friday.
Kitex increases capex in Telangana
The fabric and readymade garments maker has reportedly increased its investment in Telangana to ₹2,400 crore from the earlier proposed amount of ₹1,000 crore. The management has said that the state government has promised the company incentives and facilities.
The management added that the Telangana government has offered land, water and electricity at cheaper rates. Meanwhile, shares of Kitex Garments were flat on Friday but have gone up nearly 70% so far in this financial year.
Sectoral indices (September 17)
| Top gainers | Top losers |
| Nifty Media ▲ 0.9% |
Nifty PSU Bank ▼ 2.9% |
| Nifty Fin Services ▲ 0.6% |
Nifty Metal ▼ 2.3% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.8% |
| Nikkei 225 (Japan) |
▲ 0.5% |
| Hang Seng (Hong Kong) |
▼ 3.1% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) (September 17) |
▼ 0.4% |
| NYSE (US) (September 17) |
▼ 0.3% |
| Nasdaq (US) (September 17) |
▼ 0.9% |
| S&P 500 (US) (September 17) |
▼ 0.9% |
Fact of the day
In 1941, Hollywood actress Hedy Lamarr, who is well-known for her roles in Oscar-nominated movies, filed a patent for frequency-hopping technology that later became a basis for Wi-fi, GPS and Bluetooth.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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