Interim Budget 2019 Reaction - FMCG - Mr. Subrata Ray, Senior Group Vice President, ICRA

Impact - Positive

Increased outlay for farm and rural sector will boost consumption demand, especially in rural segment. Moreover, direct income support of Rs 6,000 per year to marginal farmers augurs well for rural consumption demand. Tax sops for middle-class tax payers with annual taxable income under Rs 5 lakh and abortion of income tax on notional rent on second home will also boost consumer sentiments and consumption demand. Overall, the announcement made in budget will boost consumption demand and it is positive for the FMCG industry.

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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