Post budget Reaction: Mr. Ullas Kamath - Joint Managing Director - Jyothy Laboratories Limited

Mr. Ullas Kamath - Joint Managing Director - Jyothy Laboratories Limited:

"The maiden budget presented by BJP government has set a positive course for inclusive growth. Measures announced in education, manufacturing, skill development and tourism will provide the much needed boost to ailing economy and help create more job opportunities.

The Finance Minister aims to spur growth through integrated reforms such as project based infrastructure for rural development, incentives for infrastructure investment trusts, agriculture infrastructure funds etc. All these measures will lead to faster movement of goods thus providing a fillip to the FMCG industry. Also increasing the personal income tax and investment limit under section 80 C will lead to more disposable income in the hands of middle class leading to higher spends in consumer products.

The much awaited reform on GST comes as a fresh wave of announcement which will help in simplifying the entire tax structure, thereby reducing costs and help to generate revenues. There was no negative surprise element in the union budget on the corporate taxation policy. By maintaining a status quo on the same the FM has provided a major relief to India Inc.

Overall the union budget has provided a much needed impetus towards the key sectors of the economy."

Shares of JYOTHY LABORATORIES LTD. was last trading in BSE at Rs.184.85 as compared to the previous close of Rs. 185. The total number of shares traded during the day was 17299 in over 1313 trades.

The stock hit an intraday high of Rs. 188.3 and intraday low of 183.55. The net turnover during the day was Rs. 3209206.

Source : Equity Bulls

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