Interim Budget 2019 Reaction - K. Ravichandran, Group Head, Corporate Sector Ratings - ICRA Ltd

The Government's focus on the inland waterways sector and the SagarMala project continues, which is a positive for the shipping sector, with the potential to boost coastal as well as inland shipping in the medium term. The budgetary allocation, however, remains low in comparison to the overall requirement for these projects. Although the allocation for assistance to shipbuilding, research and development has increased compared to the previous year, it remains at a moderate level. In the absence of any major specific announcement for the shipping and shipbuilding sector, the impact on this sector is expected to be Neutral.

Shares of ICRA LTD. was last trading in BSE at Rs.3019.95 as compared to the previous close of Rs. 3019. The total number of shares traded during the day was 511 in over 13 trades.

The stock hit an intraday high of Rs. 3019.95 and intraday low of 2997. The net turnover during the day was Rs. 1531732.

Source : Equity Bulls

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