Shares of capital goods, automobiles and consumer durable sector are trading higher in otherwise weak market after the Government extended an excise duty concession by six months till December 31, 2014. The relief, as announced in the Interim Budget, was originally scheduled to end on June 30.
Blue Star, Bajaj Electricals and Symphony from consumer durable sector have gained between 2-3% on the Bombay Stock Exchange (BSE).
Larsen and Toubro, Bharat Electronics, Crompton Greaves, BHEL and Siemens from capital goods and Eicher Motors, Bajaj Auto, Hero MotoCorp from auto sector are trading higher by up to 4%. The benchmark S&P BSE Sensex however, down 0.51% or 129 points at 25,184.
The duty on sports utility vehicles had been cut to 24% (from 30%), on mid-size cars to 20% (24%) and on large cars to 24% (27%). Similarly, on capital goods and some consumer goods, the levy was reduced to 10% from 12%. The cuts were made to give a boost to the manufacturing sector.
Blue Star, Bajaj Electricals and Symphony from consumer durable sector have gained between 2-3% on the Bombay Stock Exchange (BSE).
Larsen and Toubro, Bharat Electronics, Crompton Greaves, BHEL and Siemens from capital goods and Eicher Motors, Bajaj Auto, Hero MotoCorp from auto sector are trading higher by up to 4%. The benchmark S&P BSE Sensex however, down 0.51% or 129 points at 25,184.
The duty on sports utility vehicles had been cut to 24% (from 30%), on mid-size cars to 20% (24%) and on large cars to 24% (27%). Similarly, on capital goods and some consumer goods, the levy was reduced to 10% from 12%. The cuts were made to give a boost to the manufacturing sector.
