Allocation for 'Jal For All Mission' to boost consumption of pipes - Mr. Prakash P. Chhabria, Finolex Industries Ltd

Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited's reaction to proposals mentioned in Union Budget 2020.

"The Union Budget 2020 is committed towards growth and welfare of farmers and rural economy. The 16 action points plan for farmers will not only improve farm productivity and farmers' income but will also accelerate the accomplishments towards the goal of doubling farmers' income by 2022. The allocation of Rs. 2.83 lakh crore for agriculture and allied activities, irrigation and rural development in 2020-21 announced by the Finance Minister, will further enhance growth of the agriculture sectors and will heighten purchasing power of people.

The proposed allocation of Rs. 3.6 lakh crore in the annual budget under 'Jal For All Mission' aimed at meeting the clean drinking water needs of people across the country, will tremendously boost consumption of pipes. Finolex industries Limited, being the largest manufacturer of PVC Pipes & Fittings in India with massive penetration across the country will provide unlimited opportunity for the company."

Shares of FINOLEX INDUSTRIES LTD. was last trading in BSE at Rs.551 as compared to the previous close of Rs. 560.2. The total number of shares traded during the day was 12288 in over 1144 trades.

The stock hit an intraday high of Rs. 585.8 and intraday low of 551. The net turnover during the day was Rs. 7067044.

Source : Equity Bulls

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