Budget Expectations - Mr. B Satish Kumar - MD, Steel Exchange India Limited

Mr. B Satish Kumar - MD, Steel Exchange India Limited

The current policy status –

a. Increase steel consumption in the country

The desired policy change –

a. Reduction in excise duty for a 5 year period
b. Thrust on infrastructure development
c. Manufacturers to be allocated iron ore and coal on priority at linkage rates
d. Manufacturers to be supplied iron ore and coal at linkage rates which should be less than e-auction rates. This will provide stability to steel prices and also protect them in adverse situations. Making it reactive to volatility in prices will harm the economy more than doing good.
e. Allocation of mines to manufacturers of steel
f. Reduce administrative delays in clearances

3. Whether you expect the new Budget will provide for that change

Yes

4. The implications of the change

a. Improve economic development
b. Provide employment

Shares of STEEL EXCHANGE INDIA LTD. was last trading in BSE at Rs.57.7 as compared to the previous close of Rs. 62.05. The total number of shares traded during the day was 10689 in over 318 trades.

The stock hit an intraday high of Rs. 65 and intraday low of 57.7. The net turnover during the day was Rs. 651817.

Source : Equity Bulls

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