New Delhi: GST Council has seen its impact on the stock market Friday on reducing GST rates on 53 services and 29 items. Following this, oil espopulation and realty sector stocks have risen by up to 5%. When stocks of companies engaged in the Leisure Facility saw a 9% rise.
Petroleum Drilling Services shares rose by up to 5%
The shares of companies, giving gasoline and natural gas mining and drilling services, cut back on GST rates.
With tax credits on transportation of petrol products, the reduction in GST has been reduced to 12% and tax credit not less than 5%.
Jindal Drilling Industries grew by a whopping 5% The share price in the BSE rose by 4.68% to Rs.206.70.
Indraprastha Gas Limited (IGL) shares increased by 1 percent. The share was 0.94 per cent higher at Rs. 308.40. Besides, ONGC gained 0.97 per cent, Deep Industries advanced by 1.86 per cent, IOC by 0.40 per cent.
Shareholders of Leisure Facilities companies increased 9%
When the GST rate on services such as Theme Park, Water Park, Joy Ride, Mary Go Round, Go Karting Ballet, has been reduced from 28% to 18%. The share of Amusement Park Wonderlla Holidays rose by 9%, as the GST ratios decreased The share price in the BSE rose by 8.84% to Rs424.40, which is the 52-week high. Wonderland Holidays has three amusement parks in Kochi, Bengaluru and Hyderabad. The company also has a resorts named "Wonderala Bangalore.
n addition to this, in Fun Word and Resorts 4.79%, Adeleb Entertainment grew by 3.29%.
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