GST Impact on Share Return of Indian Pharmaceutical Companies

Jignesh Togadiya, Assistant Professor, Shri Ashvinbhai A Patel Commerce College, Gandhinagar

Dr. Vigna Oza, Principal, Shri Ashvinbhai A Patel Commerce College, Gandhinagar

Drugs and pharmaceutical industry plays a vital role in the economic development of a nation. It is one of the largest and most advanced sectors in the world, acting as a source for various drugs, medicines and their intermediates, as well as other pharmaceutical formulations. On the global platform, India holds fourth position in terms of volume and thirteenth position in terms of value of production in pharmaceuticals. The estimated worth of the Indian Pharmaceutical Industry is US$ 6 billion the growth rate of the industry is 13% per year. The present study focuses on “A Study of Impact of Goods & Services Tax (GST) on Shares return of Indian Pharmaceutical Companies”. This study aims to find the reaction of Indian Pharmaceutical Companies Share return with respect to the announcement of GST rates and also tries to test efficiency of the stock market. The performance of stock market and its behaviour serves as an indicator of the reactions of the economy of the nation. The Goods and Services Tax is a major tax reform in India which is most likely to boost the economic growth of the country. This expectation of the investors is assumed to be transformed to stock price returns that are either negative or positive. So for GST impact is concerned, here Daily, Monthly and Yearly, pre and post GST implementation share return is taken and different statistical tools applied to find impact of GST on these returns.

Keywords: GST, Pharmaceutical.

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries