News Announcement Impact Analysis · GST Council puts off tax relief for COVID-19 related supplies till 08-Jun · This was one of the major demands from the GST Council so as to reduce the cost payable by the final consumer · However, the decision has been put off, purely on account of the budgetary constraints
Previous Day Market SENSEX closed at 48,732.55 up by 41.75 points Nifty closed at 14,677.80 down by 18.70 points For the week ended 14 May, 8 out of the top-10 highest market cap companies on the Nifty lost value to the tune of Rs.113,075 crore. TCS, Infosys, and HDFC Bank were among the worst affected.
During the week ending 20 November, the top 10 companies on the Nifty lost Rs.107,160 crore in terms of market cap. The markets saw value depletion after a gap of 3 weeks with the fall led by heavyweights like Reliance, TCS, HUL, ICICI Bank and Infosys. While Reliance was the top loser giving up Rs.69,379
The deal between Reliance and the Future Group was finally sealed over the week end with the Reliance Retail being ready to pay Rs.24,700 crore for the deal. This will include the assumption of the debt of the Future Group. Prior to the execution of the deal, all the group companies will be merged