LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Nifty to hit 9,000-mark by Diwali; to dole out 12-14% returns

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Nifty to hit 9,000-mark by Diwali; to dole out 12-14% returns
The optimism is based on government's continued efforts towards structured reforms including roll out of the goods and services tax (GST), which according to the brokerage is likely to be implemented by mid-year. Image Source: IANS
Written By: PTI
Updated: Tue, Jan 10, 2017
05:24 pm
PTI
RELATED NEWS
MASSIVE Rs 192.87 lakh cr! BSE-listed companies market valuation zooms to record high MASSIVE Rs 192.87 lakh cr! BSE-listed companies market valuation zooms to record high
Rs 1 lakh in this stock returned Rs 1,27,000 in 7 hours today! Rs 1 lakh in this stock returned Rs 1,27,000 in 7 hours today!
75 BSE 500 cos can pay Rs 1.1 tln more to shareholders: Report 75 BSE 500 cos can pay Rs 1.1 tln more to shareholders: Report
Sebi slaps Rs 94 lakh fine on 17 entities for fraudulent trade practices Sebi slaps Rs 94 lakh fine on 17 entities for fraudulent trade practices
Stock Market Bulls! From TCS, Kotak Bank, ONGC, Infosys, SBI to Bajaj: 10 stocks that made people rich today and how Stock Market Bulls! From TCS, Kotak Bank, ONGC, Infosys, SBI to Bajaj: 10 stocks that made people rich today and how

Leading retail brokerage firm HDFC Securities today said that benchmark Nifty index is expected to hit 9,000 level by Diwali and is also likely to generate double digit returns at 12-14 per cent, this year.

The optimism is based on government's continued efforts towards structured reforms including roll out of the goods and services tax (GST), which according to the brokerage is likely to be implemented by mid-year.

"I believe the Nifty will hit the 9,000-level by Diwali (October 19, 2017) on account of structured reforms like demonetisation, GST and aided by normal monsoon," HDFC Securities managing director and CEO Dhiraj Relli told PTI here.

The NSE 50-share Nifty index is currently trading at 8,200-level.

Relli also said that Nifty can be expected to generate double digit returns (12-14 per cent), in 2017.

Noting that demonetisation will cause only "short term pain and long term gain", Relli said that the situation in the economy should normalise by February-end.

He also said that the adverse effects of the note-ban move would only be limited to growth numbers in the third and the fourth quarter of the current fiscal, he added.

Observing that GST is likely to be implemented in June, this year, the brokerage said, "For stock market investors, GST matters because many listed businesses (assuming they are tax compliant) will get long term boosts via ease of compliance plus competitive advantage as unorganised competitors fall into the indirect tax net."

"Auto components, FMCG, retail, appliances, paints, construction material firms are direct beneficiaries," it added.

Further, on the upcoming union budget, the brokerage expects the government roadmap and allocations under GST; to simplify norms related to tax compliance to promote ease of doing business as well as lower the corporate tax rates.

It also said that the budget is likely to include fiscal boosters such as higher spending on rural India -- roads, irrigation, healthcare, sanitation and rural housing.

Moreover, the government could also lower personal income tax as well as give incentives for housing spend.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Bombay Stock ExchangeBSENifty 50MarketsDiwaliNSENational Stock ExchangeGSTGoods and Service Tax
RELATED NEWS
MASSIVE Rs 192.87 lakh cr! BSE-listed companies market valuation zooms to record high MASSIVE Rs 192.87 lakh cr! BSE-listed companies market valuation zooms to record high
Rs 1 lakh in this stock returned Rs 1,27,000 in 7 hours today! Rs 1 lakh in this stock returned Rs 1,27,000 in 7 hours today!
75 BSE 500 cos can pay Rs 1.1 tln more to shareholders: Report 75 BSE 500 cos can pay Rs 1.1 tln more to shareholders: Report
Sebi slaps Rs 94 lakh fine on 17 entities for fraudulent trade practices Sebi slaps Rs 94 lakh fine on 17 entities for fraudulent trade practices
Stock Market Bulls! From TCS, Kotak Bank, ONGC, Infosys, SBI to Bajaj: 10 stocks that made people rich today and how Stock Market Bulls! From TCS, Kotak Bank, ONGC, Infosys, SBI to Bajaj: 10 stocks that made people rich today and how

LATEST NEWS

USD vs INR: Indian Rupee at 9-month low against US dollar - Expert decode the impact

CBSE Class 10 Class 12 Board Exam Latest News: Will government CHANGE CBSE board exam 2021 date sheet - check all details here

Yes Bank Share price can multiply 2x to 3x over this period, says expert

Realme C20 to go on sale from today; check price, camera, specifications and much more

iQOO 7 series India launch date revealed: Check expected price, specifications and details here

Anil Singhvi decodes markets, says expects short-covering soon, highlights 3 key reasons

Nifty Outlook: Is the correction cycle complete or is another fall in offing? Market Guru decodes trends

KMAT (Kerala) 2021: Provisional answer keys released on its official website cee.kerala.gov.in - see how to check, raise objection here

CBSE Board exam 2021: After Maharashtra, UP boards, will CBSE CANCEL examinations? Here is latest news by official

PUBG Mobile 1.4 beta update global version: Check APK download link, vehicle, game mode for global users

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved