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Post-budget reaction - Mr. Parth Nyati, COO, TradingBells

Posted On: 2017-02-01 21:16:56

This is a very good growth oriented budget meant to benefit rural and urban population alike. IPO for public sector undertakings like IRCTC, IRFC and IRCON is a pleasant surprise and would ensure more retail participation. It is an extremely smart move for divestment. Reduction of corporate tax would benefit 96% of the Indian corporate having turnover less than 50 corers. We can see SMEs getting a positive boost from this move. Long term capital gain tax on equity markets remained unchanged which will further boost investor participation.

Service Tax and STT also remained unchanged. Some reports suggested that both could go up. It gives a positive kick right after the budget. However lowering of STT would have benefited the financial markets. More Government spending on infrastructure like highways, railways, coastal roads, affordable housing will pump in liquidity in the market which was required post demonitisation. Infrastructure status given to affordable housing segment will lower the borrowing costs for housing loan. This is in line with the vision to create 1 crore houses by 2019. This should give a boost to reality and ancillary industries like cement, iron ore, metal, paints etc.

Focus on digitalization and incentives on online payments would increase digital payments and will benefit online trading. Abolishment of FIPB and automation would ease out the process for Foreign Portfolio Investments. We can expect more foreign investments. There are a lot of benefits for farmers aimed to double their income in 5 years. Irrigation based stock will get a boost out of this.


Source: Equity Bulls

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