GST rationalization from the highest tax bracket of 28% to 18% in GST Council's 25th meet saw the amusement company stock rally in trade today by as much as 9%. The company made a 52-week high today at Rs. 424.40.
The GST rate cuts were made primarily on employment generating some 83 goods and services. As per a leading business daily report admission to water parks, theme parks, merry-go-round, go-carting and ballet will now attract a lower GST rate of 18% as against the previous 28%.
As told to a leading news channel the company aims to increase its footfall as well as the previous losses in the upcoming financial year.
The stock pared its early gains in early trade today and was trading lower at Rs. 407 on the BSE.