Views on Union Budget - Mr. Achal Bakeri, Chairman and MD, Symphony Ltd

Mr. Achal Bakeri - Chairman and Managing Director, Symphony Ltd

"Finance minster in the first budget of Modi government has put sincere efforts to balance the fiscal prudence and growth agenda. FM in his budget speech has emphasised on need to revive growth in the manufacturing sector which is barometer for the economy and has announced various initiatives to encourage investment and employment.

This time special effort is put on training, skill creation to ensure employability for the manufacturing sector. FM's proposal of investment allowance of 15 percent for 3 years to a company that invests more than Rs. 25 crore in any year in new plant and machinery will encourage new investment and help generate new employment opportunities.

Further clarity on the introducing a Goods and Services Tax (GST) will go a long way in boosting confidence among business community. GST will streamline the tax administration, avoid harassment of the business and result in higher revenue collection both for the Centre and the States."

Shares of Symphony Limited was last trading in BSE at Rs.1090 as compared to the previous close of Rs. 1061.4. The total number of shares traded during the day was 2520 in over 775 trades.

The stock hit an intraday high of Rs. 1135 and intraday low of 1036.25. The net turnover during the day was Rs. 2734808.

Source : Equity Bulls

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