Sadbhav Eng soars 3% after govt allocates Rs. 55K cr for roads and highways

“I have proposed an allocation of Rs. 55,000 crore in the Budget for Roads and Highways. This will be further topped up by additional Rs. 15,000 crore to be raised by NHAI through bonds. Thus the total investment in the road sector, including PMGSY allocation, would be Rs. 97,000 crore during 2016-17,” said the Finance Minister.

Shares of Sadbhav Engineering propelled 3.54% on BSE to Rs. 214.80 after the Finance Minister Arunj Jaitley announced an allocation of Rs. 55,000 crore for roads and highways in the Union Budget 2016.

“I have proposed an allocation of Rs. 55,000 crore in the Budget for  Roads  and  Highways.  This  will  be  further  topped  up  by  additional Rs. 15,000 crore to be raised by NHAI through bonds. Thus the total investment  in  the  road  sector,  including  PMGSY  allocation,  would  be Rs. 97,000 crore during 2016-17,” said the Finance Minister.

“In the road sector, there were more than 70 projects that were languishing at the beginning of the year, due to legacy factors. Aggregate length of these projects was about 8,300 kms involving more than Rs. 1 lakh crore investment. With exemplary and proactive interventions, nearly 85% of these projects have been put back on track,” added Jaitley.

Sadbhav Engineering Ltd is currently trading at Rs. 213.8, up by Rs. 6.35 or 3.06% from its previous closing of Rs. 207.45 on the BSE.

The scrip opened at Rs. 205.05 and has touched a high and low of Rs. 216 and Rs. 203 respectively. So far 221247(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3558.47 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 385 on 13-Mar-2015 and a 52 week low of Rs. 198.45 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs. 236 and Rs. 198.45 respectively.

The promoters holding in the company stood at 47.1 % while Institutions and Non-Institutions held 42.22 % and 10.68 % respectively.

The stock is currently trading above its 200 DMA.

Recovery on the Street after Budget speech! Nifty back at 7000 levels

The INDIA VIX is down 1.26% at 21.5875. Out of 1,792 stocks traded on the NSE, 730 declined, 730 advanced and 363 remained unchanged today. The INDIA VIX is down 1.26% at 21.5875. Out of 1,792 stocks traded on the NSE, 730 declined, 730 advanced and 363 remained unchanged today

At 1:04 PM, the S&P BSE Sensex is trading at 22,741 down 413 points, while NSE Nifty is trading at 6,933 down 96 points.

The BSE Mid-cap Index is trading down 1.14% at 9,464, whereas BSE Small-cap Index is trading down 1.30% at 9,431.

SBI, ICICI Bank, Tata Steel, ONGC, Dr.Reddy's Lab and Sun Pharma are among the gainers, whereas  ITC, GAIL, HUL, Cipla, Bharti Airtel and Adani Ports are losing sheen on BSE.

Some buying activity is seen in realty, metal, banking, finance, basic materials and capital goods sectors, while FMCG, consumer durables and IT sectors are showing weakness on BSE.

The INDIA VIX is down 1.26% at 21.5875. Out of 1,792 stocks traded on the NSE, 730 declined, 730 advanced and 363 remained unchanged today.

A total of six stocks registered a fresh 52-week high in trades today, while 152 stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 7 paisa at 68.69/$ on Monday as against previous close of 68.62/$. On Friday, rupee remained weak in the offshore NDF markets, weighed by the strength in greenback against the basket of currencies.


ITC slipped 1.4% to Rs.287 on BSE. The expectations are that there will be a likely increase in excise duty on cigarette. According to reports, tobacco products may again attract higher taxes in the upcoming Union Budget 2016-17. Highlighting a discrepancy between the existing tobacco prices and rising income levels, the health ministry along with the World Health Organisation (WHO) and other public health groups have proposed a hike in taxes of up to 40% for all tobacco products, as per reports.

UltraTech Cement gained 1% to Rs. 2,795 on BSE. The company will acquire Jaiprakash Associates' cement factories in six states for an enterprise value of Rs. 16,500 crore, among the biggest distress sales of assets as India's banks get proactive on bad loans.


Andhra Bank jumped 1.5% to Rs.47.55 on BSE. The bank has informed BSE that the Board of Directors of the Bank has approved raising of equity capital by issuance of 2,88,53,210 equity shares of Rs. 10/- each for cash at Rs. 47.30p. per share (including premium of Rs. 37.30p. per share) as may be determined by the Board in accordance with regulation 76(4) of SEBI (ICDR) Regulations, 2009 and aggregating upto Rs. 136.48 Crore on preferential basis to Life Insurance Corporation of India subject to Shareholders' approval at the Extraordinary General Meeting proposed to be held on March 21, 2016.

Budget 2016 : Maruti tumbles after cess increase on small gasoline cars

Arun Jaitley announced an infrastructure cess on cars, SUVs, diesel vehicles. BSE Auto Index drops 1.78% to 15738.79 points.

Maruti Suzuki after Union Budget's announcement of 1% increase on cess for small gasoline cars, tumbled 3.31% to Rs.3296.30.

Arun Jaitley announced Infrastructure cess on cars, SUVs, and diesel vehicles. BSE Auto Index drops 1.78% to 15738.79 points.

Sensex crashes over 600 points and Nifty down over 200 points on Budget taxation proposals.

Taxing Budget - Sensex, Nifty come crashing down as Jaitley speaks

The BSE Mid-cap Index is trading down 1.14% at 9,464, whereas BSE Small-cap Index is trading down 1.30% at 9,431.

At 12:31 PM, the S&P BSE Sensex is trading at 22,741 down 413 points, while NSE Nifty is trading at 6,933 down 96 points.

The BSE Mid-cap Index is trading down 1.14% at 9,464, whereas BSE Small-cap Index is trading down 1.30% at 9,431.

SBI, ICICI Bank, Tata Steel, ONGC, Dr.Reddy's Lab and Sun Pharma are among the gainers, whereas  ITC, GAIL, HUL, Cipla, Bharti Airtel and Adani Ports are losing sheen on BSE.

Some buying activity is seen in realty, metal, banking, finance, basic materials and capital goods sectors, while FMCG, consumer durables and IT sectors are showing weakness on BSE.

The INDIA VIX is down 1.26% at 21.5875. Out of 1,792 stocks traded on the NSE, 730 declined, 730 advanced and 363 remained unchanged today.

A total of six stocks registered a fresh 52-week high in trades today, while 152 stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 7 paisa at 68.69/$ on Monday as against previous close of 68.62/$. On Friday, rupee remained weak in the offshore NDF markets, weighed by the strength in greenback against the basket of currencies.


ITC slipped 1.4% to Rs.287 on BSE. The expectations are that there will be a likely increase in excise duty on cigarette. According to reports, tobacco products may again attract higher taxes in the upcoming Union Budget 2016-17. Highlighting a discrepancy between the existing tobacco prices and rising income levels, the health ministry along with the World Health Organisation (WHO) and other public health groups have proposed a hike in taxes of up to 40% for all tobacco products, as per reports.

UltraTech Cement gained 1% to Rs. 2,795 on BSE. The company will acquire Jaiprakash Associates' cement factories in six states for an enterprise value of Rs. 16,500 crore, among the biggest distress sales of assets as India's banks get proactive on bad loans.


Andhra Bank jumped 1.5% to Rs.47.55 on BSE. The bank has informed BSE that the Board of Directors of the Bank has approved raising of equity capital by issuance of 2,88,53,210 equity shares of Rs. 10/- each for cash at Rs. 47.30p. per share (including premium of Rs. 37.30p. per share) as may be determined by the Board in accordance with regulation 76(4) of SEBI (ICDR) Regulations, 2009 and aggregating upto Rs. 136.48 Crore on preferential basis to Life Insurance Corporation of India subject to Shareholders' approval at the Extraordinary General Meeting proposed to be held on March 21, 2016.

Cigarettes to cost more! ITC touches 52-week low on 10-15% hike excise duty

FM Arun Jailtey announced excise duty hike on most tobacco products by 10-15%.

ITC stocks hit 52 week low on BSE index, after FM Arun Jailtey announcement to hike excise duty on most tobacco products by 10-15%.

According to reports, it is expected that ITC may implement a weighted average price hike of 10-11 percent to pass on the excise duty increase. If such a scenario arises, cigarette will price will increase, while its volumes may decline by 8-10 percent in FY17. 

Shares of ITC is currently trading at Rs. 272.70, down by Rs. 18.30 or 6.29% from its previous closing of Rs. 291 on the BSE.The scrip opened at Rs. 292 and has touched a high and low of Rs. 293.65 and Rs. 268 respectively. So far 12861528(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 233984.64 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 409.7 on 28-Feb-2015 and a 52 week low of Rs. 268 on Budget 2016 announcement. Last one week high and low of the scrip stood at Rs. 304 and Rs. 268 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.93 % and 43.82 % respectively.

The stock is currently trading above its 200 DMA.

Live: Key Highlights of Union Budget 2016-17

Budget 2016 speech comes to a close; Finance Bill has been moved in Parliament. Expenditure for FY17 set at Rs. 19.78 Lakh Crore. FY17 Fiscal Deficit target At 3.5%.

Lights, Camera, Action....And the Oscar goes to SPOTLIGHT. Will FM maintain the world's spotlight with the Union Budget this time. Watch all the action here...

Budget 2016 speech comes to a close; Finance Bill has been moved in Parliament

Creating 11 New Benches Of Indirect Tax Tribunal
 
Propose To Abolish 13 Different Cesses Levied By Ministries
 
Revenue Secy to head committee on taxation. No penalty, interest in ongoing retrospective tax cases

Govt to levy 1% on petrol and CNG cars, 2.5% on diesel cars and 4% on SUVs

Excise duty on Tobacco products increased by 10-15%
 
11 new benches of Cutsoms Excise Services Appelate Tribunal to be introduced
 
Limited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties
 
Levy of heavy penalty for non payment of tax has led to high litigation. Proposal to modify scheme for penalties
 
A new grading system of imposing penalties to be introduced on the basis of under reporting or concealment of income
 
Move towards a low tax regime with non litigious approach

Clean Energy Cess to renamed as Clean Environment Cess
 

Limited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties

Clean energy cess increased from RS. 200/ton to 400/ton on coal, lignite and peat

 
Krishi Kalyan Cess to be imposed on all taxable services for agricultural sector
 
15% Surcharge on income above 1 Crore

Excise duty on tobacco products other than Bidi to above 10%.

Levy 0.5% Agri Cess on All Taxable Services from June 1

Service tax exempted for housing construction of houses less than 60 sq. m

GAAR will be implemented from April 1 2017
 
100% deduction for profits of undertakings from housing projects in cities during Jun '16 - Mar '19
 
New manufacturing cos. after March 1, 2016 to be taxed at 25% plus cess + surcharge
 
DDT Exempted From REITs

Service tax exempted for general insurance schemes under Niramayi Swasthya Bima Yojana
 
Accelerated depreciation to be limited to 40% wef from April 1, 2017 as part of phasing out of exemptions to industry

A Special Patent Regime proposed to power innovation and research

Committed to implementing GAAR from April 1, 2017

Committed to increase investment in asset reconstruction companies
 
Incentives for new manufacturing companies and relatively small enterprise companies

Accelerated Depreciation Limited For R&D To 150% From FY18

Limit of deduction of rent paid increased to Rs 60,000 per annum

Government acknowledges the role of tax payers in Nation building

2 crore tax payers to get relief of Rs 3,000 in case of income under Rs 5 lakh
 
Revenue deficit estimate for FY 2015-16 down to 2.5% from earlier estimates
 
Propose the ceiling of tax rebate under 87A from Rs. 2000 to Rs. 5000
 
Presumptive Income Of 8% for Turnover of Rs. 2 Cr

Propose the ceiling of tax rebate under 87A from Rs. 2000 to Rs. 5000 

Revenue deficit estimate for FY 2015-16 down to 2.5% from earlier estimates
 
Propose to set up a panel to review the FRBM

Plan - non-plan classification of expenditure to be done away with from FY 2017-'18

Expenditure for FY17 set at Rs. 19.78 Lakh Crore

Chapter that had western beginning will have Indian ending. We hope to emulate it in 2017, 70th anniversary of our Independence
 
FY17 Fiscal Deficit target At 3.5%: Arun Jaitley
 
Aadhar Bill to be introduced in current session of parliament

RBI Act to be amended to give statutory backing for monetary policy: FM
 
Public Money should reach the poor and deserving without any leakage
 
Aadhar Bill to be introduced in current session of parliament

An increased allocation of Rs 1,80,000 Crores under PM MUDRA Yojana
 
Rs 25,000 crore for recapitalization of public sector banks: FM
 
A public utility resolution of disputes bill will be introduced during 2016-17: FM

Rs 25,000 Crores to be allocated for re-capitalisation of Public Sector Banks
 
Comprehensive Code to be introduced to provide a specialised resolution mechanism for bankruptcy of banks/insurance companies
 
Banking Board Bureau will be operationalized, we stand solidly behind public sector banks

More number of benches of Security Appellate Tribunal to be introduced by amending SEBI Act
 
A vibrant financial sector is critical to the growth of the Indian economy: FM

Dept of Disinvestment to be renamed as Dept of Investment and Public Asset Management

100% FDI through FAPB route in marketing of food products produced and manufactured in India

A comprehensive approach to be adopted for Govt. investment in CPSEs: FM

FDI changes in Insurance, Pension, Asset Reconst and Stock Exchanges 

Govt is drawing a comprehensive plan to be implemented in the next 15-20 years for exploiting Nuclear energy

Initiatives being introduced to reinvigorate infrastructure sector through PPP
 
A new credit rating system for infrastructure will be developed. 

Drawing Up Comprehensive Plan Over 20 Years to Augment Nuclear Power
 
Giving Rs. 3,000 Cr to promote Nuclear Power Generation*

Considering to incentivize gas production from deep sea, ultra deep water and high temp. areas

To Amend Motor Vehicle Act to Open Up Road Passenger Sector

Total outlay for infrastructure Rs. 2,21,246 crores in 2016/17
 
We expect to award 10,000 km of National highway construction projects in 2016: Jaitley

Total Investment In Roads Sector At Rs. 97000 Cr
 
Allocate Rs55,000 Crores for roads and highways, total investment in Road Sector would be Rs97,000 crore

India achieved highest Motor Vehicles Manufacturing and highest number of kms of Road Construction awarded in 2015

Model Shops and Establishments Bill to be circulated, for voluntary adoption by states
 
Rs 2.87 lakh crore will be given as grant in aid to gram panchayats, municipalities: FM
 
3000 drug stores to be opened under PM Aushadhi Yojana

Senior citizens will get additional healthcare cover of Rs 30,000 under the new scheme
 
Govt to provide health insurance of upto Rs 1 lakh for each family

Govt. will pay EPF contribution of 8.33% for all new employees for 1st three years

62 new Navodya Vidyalayas to be opened in uncovered districts under Sarva Siksha Abhiyaan
 
A higher education financing agency to be setup with initial capital of Rs. 1000 crore
 
A Digital Depository to be established which will be a One-stop place for all education related e-certificates
 
Decided to set up 1500 multi-skilled training institutes in the country; Rs. 1700 crore allocated for this initiative

SC/ST Hub to be constituted under MSME Ministry to encourage SC/ST entrepreneurship 
 
Rs 2.87 lakh crore aid to gram panchayats and municipalities

Cabinet has approved Stand Up India scheme. Rs. 500 crore has been provided

Start a PPP based National Dialysis Mission: Arun Jaitley
 
A National Dialysis Services Program to be introduced under National Health Mission

To launch new health protection scheme for weaker section of society  
 
Rs 87,765 crores allocated for rural development

Aim to double the income of farmers in 5 years: FM
 
Rs 2000 rs towards LPG connections to Women from BPL families

Quantum jump of 228% in grants to gram panchayats and urban local bodies in accordance with FFC recommendations
 
100 village electrification to be achieved by 1st May, 2018

Rs 9,000 crores allocated to Swaccha Bharat Abhiyaan
 
Digital Literacy Mission Scheme to be implemented in Rural areas
 
5542 villages have been electrified till Feb 23rd, 2016, to achieve 100% village electrification till May 1st, 2018
 
2.87 lakh crore grants to gram panchayats and municipalities - a quantum jump of 228%: FM
 
Special focus has been given on timely credit to farmers: FM

A sum of Rs. 38,500 has been allocated to MNREGA. Will be the highest amount spent on NREGA
 
Allocation to PM Fasal Bima Yojana for 2016/17 is Rs. 5500 crores
 
65 eligible habitats to be connected via 2.23 lakh kms of road.Current construction pace is 100 kms per day   

5 lakh acres to be brought under organic farming over a three year period
 
Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: FM
 
Farm, rural sector, infra, social sector to have more Government expenditure: FM
 
To spend Rs 170 bn by next year, Rs 865 bn over 5 years to boost irrigation   

Propose Rs 5,500 Cr For Crop Insurance Scheme For FY17
 
Allocation of Pradhanmatri Gram Sadak Yojna to be increased to 19,000 Crore
 
Govt is launching a new initiative to provide cooking gas to BPL families with state support.
 
Aim to double farmers’ income by 2022: Jaitley
 
Next financial year will cast an additional burden due to implementation of 7th Pay Commission and OROP: Jaitley 

Aim to double farmers’ income by 2022: Jaitley

Nominal premium and highest ever compensation in case of crop loss under the PM
 
27000 crs for roads project for 2.23 lac kms of roads
 
28 lakh hectars will be brought under the new farm irrigation plan

Rs. 500 Cr Assigned To Pulse Production

5 lakh acres to be brought under organic farming over a three year period

Rs. 35,984 crores total allocation for farmers' welfare
 
A long-term irrigation fund will be crated at Nabard. Corpus of Rs. 20,000 crore

CPI inflation has come down, GDP growth now 7.6%. CAD declined to 14.4% and will be 1% of GDP by end of fiscal: Jaitley
 
Pradhanmantri Krishi Sinchaai Yojna stregthened and implemented in Mission Mode

Aim is to double the income of farmers by 2022
 
World Economic Forum says India’s growth is extraordinary: Jaitley
 
My budget proposal is a transformative agenda based on 9 pillars: Arun Jaitley

India wants to double farm incomes in five years
 
We are grateful to our farmers
 
FM says that recapitalization of banks will be done during next fiscal
 
FM says: Increased outlay for social sector programs
 
7th Pay commission can hit govt finances
 
Will strive to pass GST Law, Bankruptcy Law. Will legislatively back Aadhar: Arun Jaitley.

FM says : Increased outlay for social sector programs
 
Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana

FY16 CAD projected at 1.4% of GDP
 
We wish to increase expenditure on infra, rural development and bank recapitalization: Arun Jaitley

We believe in the principle that money with the government belongs to the people

The growth of GDP has accelerated to 7.6%, says Jaitley   

Inflation Has Been Under Control Despite 2 Failed Monsoons

Presenting the budget when the global economy is in a serious crisis: Arun Jaitley
 
Global slowdown from 3.9% to 3.1% in 2015

Against all headwinds, Indian economy has held ground firmly: Arun Jaitley