Mr. N. H. Bhansali, CEO - Finance, Strategy & Business Development and CFO, Emami Limited.
Expectation from the Union Budget were not very high, in view of the fact that few important steps have already been taken by the Government like the reduction in Corporate Tax prior to the budget. Looking at the current market scenario, where growth has slowed down, the focus is on stimulating growth rather than fiscal discipline. Accordingly, the Finance Minister has announced many steps for furtherance of agriculture, commerce, industry, services and exports. Withdrawal of DDT and relaxation of FPI norms are welcome steps to boost investor confidence. This should also result into building consumer confidence gradually over a period of time. In the given circumstances, one could not have expected many relaxations affecting the exchequer. Therefore, in overall, this budget appears to be balanced with no big immediate impact on current state of economy.
Shares of EMAMI LTD. was last trading in BSE at Rs.300.1 as compared to the previous close of Rs. 294.55. The total number of shares traded during the day was 28571 in over 1771 trades.
The stock hit an intraday high of Rs. 314.3 and intraday low of 297.8. The net turnover during the day was Rs. 8742636.