GST Rate Cuts To Kick In, Over Two-Dozen IPOs, Piyush Goyal's US Visit And More — The Week Ahead

Following the US Federal Reserve's decision to cut rates last week, the upcoming week is going to be an important one for Indian markets.

All eyes will be on the Sept 22., when revised GST rates go live, thus reducing the price of most consumer daily goods as well as other items. This coincides with the yearly sales of big e-commerce platforms Flipkart and Amazon.

This promises to be an exciting week for the primary market as well, with more than couple of dozen IPOs going live.

Piyush Goyal will kickstart the week by leading a high-level delegation to the United States on Monday, Sept. 22. The Commerce Minister is expected to hold discussions regarding the US-India trade deal.

This comes at a time when the relation between the US and India is strained further after the Trump administration announced a $100,000 fee on H-1B visa applications.

However, the White House later confirmed that this new fee is one-time and will only apply to new petitions.

One would expect more clarification from the Trump administration regarding the H-1B visa fee later this week, and IT stocks could also react to this news.

Prime Minister Narendra Modi, meanwhile, is scheduled to visit Tripura and Arunachal Pradesh on Monday, Sept. 22, where he will inaugurate the redeveloped Mata Tripurasundari Temple in Udaipur, Tripura.

This is a Rs 97 crore project blending heritage restoration with modern design and infrastructure.

On Tuesday, Sept. 23, HSBC’s flash PMI readings for services, manufacturing, and composite sectors will set the tone for market sentiment throughout the week; no other notable data points are expected to come next week.

Strong prints would reinforce the case for resilient domestic demand, especially in a week where GST rate cuts will come into place.

On Friday, the Reserve Bank of India will publish bank loan and deposit growth data, along with foreign exchange reserves.

It will be an action-packed week for the primary market, with no less than ten IPOs expected to open.

Some of the prominent names include Anand Rathi Share & Stock Brokers, Atlanta Electricals and Epack Prefab Technologies.

On the SME front, around 18 SME IPOs are expected to open this week, ranging from Aptus Pharma to Systematic Industries.

Collectively, the 25 IPOs opening next week will be looking to raise more than Rs 6,500 crore. This could well be the most action-packed week for IPO investors so far this year.