18 June, 2021

The Futures Budget

Some good news, some bad for the Sensex. Here's the outlook...

The Futures Budget
What Gets Affected By What
  • Dual excise duty structure on cement will impact the sector; not many firms currently sell at the proposed Rs 190 a bag which will attract lower duty
  • FMCG firms like Hindustan Lever will benefit from the focus on agriculture; in the past such companies have gained from the spinoff effect
  • IT majors are peeved with the 1-3 per cent% MAT impact and the imposition of fringe benefit tax on ESOPs
  • Capital goods manufacturers, power firms and oil majors to benefit from the announcement of more Ultra Mega Power Projects


The impact of Budget '07 proposals on individual sectors will be much better than what the stockmarket's initial reactions would indicate. But on B-Day, Finance Minister P. Chidambaram's fourth budget on the trot (not counting earlier dreams) couldn't have received a worse reception from the bourses. On Bloody...

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