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GAAR likely to be postponed. Markets rise.

Markets seem to have been in good mood and have opened on a positive note after the expert committee headed by Partahsarathi Shome on General Anti Avoidance Rule (GAAR) recommended a postponement of the controversial tax provision by three years.

The Sensex has seen a higher opening by 60 points at 17,489 and the Nifty has rose by 30 points to open at 5,289.

Tata Motors has seen a surge of 2.1% at Rs 239, as the company reported a sales of 71,826 vehicles in the month of August.
Sterlite Industries, Hindalco, GAIL India, Bharti Airtel, Larsen & Toubro, Jindal Steel, ONGC, Tata Steel, NTPC, Mahindra & Mahindra and State Bank of India have also opened higher by 0.6-2% each.

Wipro is the top loser, down 1.5% at Rs 362. Hero MotoCorp, Coal India, Reliance Industries , Dr Reddy’s Labs, HUL and Maruti Suzuki are also among the losers.


 

 

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