GST on electric vehicles could be lowered
In a move that could lead to drop in prices of electric vehicles, thereby boosting demand, GST on electric car batteries could be lowered from the current rate of 28% to 12%, according to a Ministry Of Road Transport proposal. The government also plans to allow youth in the age bracket of 16-18 years to drive electric scooters, besides mandating taxi aggregators to have a certain percentage of e-vehicle fleet.
In a related development, the government last week approved green licence plates bearing numbers in white fonts for private e-vehicles and yellow for taxis. The purpose behind distinctive number plates is their easy identification for preferential treatment in parking, free entry in congested zones besides other proposed benefits like concessional toll. The measure is aimed at promoting e-vehicle use and the government is considering exemption from permits for such vehicles.
Benefit from the growth of the electric vehicle ecosystem by buying the Electric Mobility smallcase. This smallcase consists of companies from diverse set of segments like 2- & 4-wheeler manufacturers, oil & gas refining companies, chemical manufacturers etc. who are investing in the electric vehicle ecosystem and expect to benefit from the growth of the system.
The smallcase has has generated a return of 32.39% over the previous year compared to Nifty returns of 14.7%.
FMCG sector likely to see 11-12% rise in revenue
According to a CRISIL report, revival in rural demand and new product launches will help boost the top line growth of the FMCG sector going forward. The sector is likely to see 11-12% rise is revenue during fiscal 2019 period. The sector is also expected to see a significant improvement in operating performance. Improved business profile is also expected to result in positive trend in credit ratio for large and mid-sized firms.
You can benefit from this trend by buying smallcase FMCG tracker. The smallcase has returned 21.12% over the previous year compared to Nifty returns of 14.7%.
Markets update
Heavy buying by domestic institutional investors (DII) pushed markets up last week. Nifty closed up 1.77% at 10,806.5 whereas Sensex closed up 1.78% at 35,535.8. DII’s bought Rs.4,689.44 crore worth of shares last week.
