Reactions on the Union Budget - Vadilal Industries

Mr. Rajesh R. Gandhi, MD - Vadilal Industries Ltd

Overall Budget seems good as major focus is on overall development. Finance minister has given weightage to almost all sectors and region by providing budget for then. It looks beginning of long term strategy for overall growth.

As such, no major changes seen for Food and Agriculture sector except reduction of excise duty to 6% from 10 % for specified food package industry, which is very positive step for food processing industry. This is should have been extended to all food processing, transporting, marketing machinery also.

Over all target of 7 to 8% G.D.P. Growth with focusing on 4% growth in Agri Sector is very encouraging. Through modern technology, improving storage condition, improving rural environment by giving housing, electric city, drinking water & broad land improved ware housing.

Focus on infrastructure i.e. Road by spending 37,000 crores, Gas pipe line by 85000km through PPP Mode. E network across all govt. Reduce transaction cost by keeping ports open for 24 hours.

Further, Finance minister has also announced that focus on availability of power to every home is really good for industry that are into frozen products which will help increasing the consumption of frozen products across the country.

No change in direct or indirect tax rate and structure except few industry specific but FM has announced that GST will be introduced shortly and DTC will be reviewed which will be interesting to know.

Shares of VADILAL INDUSTRIES LTD. was last trading in BSE at Rs.201 as compared to the previous close of Rs. 200.65. The total number of shares traded during the day was 8788 in over 393 trades.

The stock hit an intraday high of Rs. 207.05 and intraday low of 192.3. The net turnover during the day was Rs. 1746312.

Source : Equity Bulls

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