31 July, 2014 00:43 IST
News
Expect Budget to be positive for most sectors
Source: IRIS (23-FEB-13)
Comments  |  Post Comment

Broking firm Angel Broking expects the forthcoming Union Budget 2013-14 will be positive for most sectors.

Automobile sector will likely to see neutral impact, Angel Broking said. The government may keep status quo on excise duty. Higher disposable income in the hands of consumers is likely to boost demand.  

Banking sector on the other hand, may see positive impact, it said. Banking fiscal consolidation, measures to encourage financial savings and capital infusion in PSUs will likely to help the sector.

Fund allocation for various programs including the APDRP and RGGVY expected to continue that will be positive for capital goods, it opined.

The cement sector would hope that there is no increase in excise duty on cement in the budget. "As the industry is currently facing low demand, it would be difficult to pass on the hike in excise duty to customers. Status quo with respect to excise duty on cement will be a positive for the sector. Overall we expect the budget to be positive for the Cement sector," it said.

Higher allocation to rural employment schemes, lowering of personal taxes etc which would boost the disposable income in the hands of consumers. "Overall, we expect the budget to be positive for the FMCG sector," it said.

Higher budgetary allocation, channelizing, low cost, long term funding for projects and introducing measures to remove bottlenecks in infrastructure sector. Overall, it expects the Budget to be positive for the infrastructure sector.

Increased emphasis on PPP in education and incremental allocation for ICT implementation in schools would benefit companies catering to the K-12 segment, including Educomp Solutions and NIIT. Overall, it expects the budget to be neutral for IT Sector.

On media sector the broking house expects exemption of import duty on set top boxes, roadmap for implementation of  GST. Overall, it expects the budget to be neutral for the media sector.

While it expects the government to likely lower the export duty on export of low-grade iron ore fines. "We believe fund-raising plans by the government through disinvestment are likely to continue in FY2014. We expect the budget to be neutral for metal companies."

Angel Broking expects the budgetary measures to be focused on addressing oil under-recoveries by way of providing clarity on subsidy sharing formula for upstream oil companies. The budget is expected to be positive for the oil and gas sector.

Higher budgetary allocation for healthcare spending. Overall, it expects the budget to be positive for the pharmaceutical sector.

Extension of tax benefits under 80-IA beyond FY2013 and budgetary allocation of Rs 12 billion towards restructuring of state power distribution companies is expected in the Budget. It expects the budget to be positive for the power sector.

It expects budget 2013-14 to be a non-event for the telecom sector as the National Telecom Policy /Spectrum Enactment Act is expected to be announced soon this year, which will address most of the above-mentioned issues. It expects the Budget to be neutral for the telecom sector.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.


News
Steelcast swings to loss in Apr-Jun quarter - 30-Jul-2014 19:13
T C F C Finance standalone quarterly profit surges 97.22% - 30-Jul-2014 19:04
Bodal Chemicals standalone quarterly earnings zoom 27.95 times - 30-Jul-2014 18:50
Basant Agro Tech (India) standalone quarterly earnings climb 1.97% - 30-Jul-2014 18:45
Coromandel Engineering Company loss widens in Apr-Jun quarter - 30-Jul-2014 18:41
Amtek Auto standalone quarterly net jumps 60.57% - 30-Jul-2014 18:39
Container Corporation Of India standalone quarterly earnings climb 6.25% - 30-Jul-2014 18:33
Zenith Fibres standalone quarterly earnings surge 53.79% - 30-Jul-2014 18:28
Blue Chiptex Industries standalone quarterly earnings zoom 3.32 times - 30-Jul-2014 18:26
Excel Crop Care standalone quarterly profit surges 69.03% - 30-Jul-2014 18:23
Asian Hotels (East) standalone quarterly profit plunges 60.87% - 30-Jul-2014 18:20
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   zx7qrq into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer