Union Budget Preview

Budget Expectation - Mr. Alok Sanghi - Director, Sanghi Industries

Posted On : 2014-07-08 21:15:43( TIMEZONE : IST )

Budget Expectation - Mr. Alok Sanghi - Director, Sanghi Industries

Mr. Alok Sanghi - Director, Sanghi Industries

The cement industry is one of the most taxed industries in India. The excise duty on steel is just 4% whereas for cement it is 12%. We believe the govern¬ment really needs to focus on how they can reduce the cost of cement, either by reducing the royalties, or reducing excise duty.

Government also needs to change policy on waste utilisation by cement and other industries. Currently, municipal corporations charge for waste utilized by companies. However, in developed countries, government encourages waste utilisation through payment to companies against successful waste recycling. Only if there is any incentive to recycle waste, it is viable and feasible for cement companies to replace coal for energy production.

Shares of SANGHI INDUSTRIES LTD. was last trading in BSE at Rs.26.95 as compared to the previous close of Rs. 28.1. The total number of shares traded during the day was 40279 in over 89 trades.

The stock hit an intraday high of Rs. 29 and intraday low of 26.85. The net turnover during the day was Rs. 1131302.

Source : Equity Bulls