This EY analysis looks at the most traded non-Nifty stocks and lists which of the Budget announcements might have triggered the activity in each of those stocks:
Shakti Pumps
· Rationalization of additional deduction of 30% on new employees
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· Long term capital gains tax @10% introduced on sale of listed shares
· Increased budget in farming sector to create opportunities for Shakti Pumps
· Budgetary expenditure on agriculture sector increased to 5.97 lakh crore from 4.94 lakh crore last year
· Increase in the effective duty due to introduction of social welfare surcharge
Spice Jet
· Increase in Education cess from 3% to 4%
· 80JJAA provisions rationalized to give benefit to new employees subject to condition
· Legislative amendments to align the provisions of Income tax with Income computation and Disclosure Standards
· Clarity on levy of IGST u/s 5(1) for aircrafts, aircraft engines and other aircraft parts imported under cross border lease during period 01 July 2017 to 07 July 2017
Delta Corp
· Increase in Education cess from 3% to 4%
· Compensation on termination or modification of terms and conditions of contract to be taxable as business income or income from other sources
· 80JJAA provisions rationalised to give benefit to new employees subject to condition
· Increase in custom duty for video game consoles and machines and others
· Tourist amenities at 100 Adarsh monuments to be upgraded to enhance visitor experiences.
Piramal Enterprises
· Rationalization of additional deduction of 30% on new employees
· Existing secondary and higher education cess of 3% increased to 4%
· Deemed dividend under section 2(22)(e) to attract dividend distribution tax@ 30%
· Any capital/ revenue compensation receivable towards termination/modification of business contract shall be taxable as business income
· No Chapter VI-A deduction unless the return of income is filed within due date
· Introduction of World’s largest government funded health care titled “National Health Protection Scheme” to cover over 10 crore poor and vulnerable families.
· Additional Health and Wellness Centres to be established across India.
· Tariff rate on specified medical devices increased from 7.5% to 10% but custom duty rate remains unchanged
· Increase in effective duty due to increase in Social welfare surcharge
Avenue Supermart
· Rationalization of additional deduction of 30% on new employees
· Existing secondary and higher education cess of 3% increased to 4%
· Deemed dividend under section 2(22)(e) to attract dividend distribution tax@ 30%
· Any capital/ revenue compensation receivable towards termination/modification of business contract shall be taxable as business income
· Renewed focus on rural wages and jobs growth likely to spur growth for consumer packaged goods companies
· Increase in effective duty due to increase in Social welfare surcharge
Suven Life Sciences
· Rationalization of additional deduction of 30% on new employees
· Existing secondary and higher education cess of 3% increased to 4%
· Deemed dividend under section 2(22)(e) to attract dividend distribution tax@ 30%
· Any capital/ revenue compensation receivable towards termination/modification of business contract shall be taxable as business income
· Introduction of World’s largest government funded health care titled “National Health Protection Scheme” to cover over 10 crore poor and vulnerable families.
· Allocation of INR 1200 crore for the National Health Policy 2017.
· Additional Health and Wellness Centres to be established across India.
· Setting up of 24 new Government Medical Colleges and Hospitals by upgrading existing district hospitals in the country.
· Increase in effective duty due to increase in Social welfare surcharge
Vakrangee
· Rationalization of additional deduction of 30% on new employees
· Legislative amendments to align the provisions of Income tax with Income computation and Disclosure Standards
· Chapter VI-A deduction denied in case of belated return
· Budget allocation doubled on digital India program to INR 3073 crores in 2018-19
· Initiation of national program to direct efforts in Artificial Intelligence
· Increased focus on cyber physical systems to support Artificial Intelligence, robotics, digital manufacturing, big data analytics and IOT
Reliance Communication
· Rationalization of additional deduction of 30% on new employees
· Existing secondary and higher education cess of 3% increased to 4%
· Long term capital gains tax @10% introduced on sale of listed shares
· Legislative amendments to align the provisions of Income tax with Income computation and Disclosure Standards
· BCD levied at 5% on preform of silica for use in the manufacture of telecommunication cables
· Increase in the effective duty due to Introduction of social welfare surcharge
· Total outlay of INR 10000 crore has been proposed for creation and augmentation of Telecom infrastructure in 2018-19
Cox & Kings
· Rationalization of additional deduction of 30% on new employees
· Legislative amendments to align the provisions of Income tax with Income computation and Disclosure Standards
· Chapter VI-A deduction denied in case of belated return
Just Dial
· Rationalization of additional deduction of 30% on new employees
· Existing secondary and higher education cess of 3% increased to 4%
· Legislative amendments to align the provisions of Income tax with Income computation and Disclosure Standards
· Chapter VI-A deduction denied in case of belated return
· Budget allocation doubled on digital India program to INR 3073 crores in 2018-19
· Increased focus on cyber physical systems to support Artificial Intelligence, robotics, digital manufacturing, big data analytics and IOT
Disclaimer: The data have been provided by EY. Neither EY nor Business Standard is liable for any action taken on the basis of this data
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