Interim Budget 2019 Reaction - Auto Components - Ms. Pavethra Ponniah, VP and Sector Head - Corporate Sector Ratings, ICRA

Impact- Neutral

The Government's increased outlay for the rural and agrarian segment would lead to higher disposable incomes and demand for automotive sector especially 2W, PV and tractor, which together account for 70% of domestic OE demand. Increased focus on road infrastructure will support demand in commercial vehicle and construction equipment sector, and hence their component suppliers. Announcements made in Budget 2019-20 would be overall neutral for the sector in absence of any direct incentive.

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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