Mr. Shashi Kiran Shetty, Founder & Chairman of Allcargo Logistics reaction on the Union Finance Budget 2016-17

"The Indian government's vision of 'Transforming India' was very well articulated in today's budget speech of Finance Minister. On one hand the measures announced in agriculture, rural and healthcare sectors will increase the confidence of rural India while on the other financial and tax reforms will increase the confidence of investors. Besides, the government's focus on skill development, job creation, infrastructure development and higher education will help create more job opportunities.

From a common man's perspective too, the budget has presented some good news. Measures such as increase in HRA and lesser tax burden on individuals with income less than Rs 5 lakh will surely be welcomed.

The government's impetus on increasing the efficiency and modernizing of ports and improving the road infrastructure will definitely provide a fillip to our sector. Overall this is a realistic budget with more focus on rural and infrastructure development while keeping the fiscal deficit in check."

Shares of ALLCARGO LOGISTICS LTD. was last trading in BSE at Rs.154.65 as compared to the previous close of Rs. 150.3. The total number of shares traded during the day was 42482 in over 1749 trades.

The stock hit an intraday high of Rs. 159.45 and intraday low of 149. The net turnover during the day was Rs. 6525850.

Source : Equity Bulls

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