Shares of seventeen capital goods firms rose by 0.11% to 7.34% at 12:23 IST on BSE after the government announced reduction in excise duty on some capital goods to 10% from 12% in the interim budget on Monday, 17 February 2014.
ABB (up 7.34%), EMCO (up 6.62%), Siemens (up 3.58%), Triveni Turbine (up 2.99%), Crompton Greaves (up 2.66%), Voltamp Transformers (up 2.21%), ALSTOM India (up 1.48%), Praj Industries (up 1.42%), Bharat Bijlee (up 1.27%), Bhel (up 1.22%), Transformers & Rectifiers (India) (up 1.18%), Voltas (up 1.07%), L&T (up 0.85%), Jindal Saw (up 0.8%), BEML (up 0.35%), Blue Star (up 0.14%) and SKF India (up 0.11%), edged higher.
However, V-Guard Industries (down 0.47%) and Havells India (down 0.28%), edged lower.
The S&P BSE Sensex was up 191.11 points, or 0.93% at 20,655.17.
The excise duty has been cut from 12% to 10% for a period up to 30 June 2014 for capital goods and consumer durable falling under chapter 84 and chapter 85 of the Schedule to the Central Excise Tariff Act.
The chapter 84/85 includes products like boiler, turbine, transformers, motors, air conditioners, toaster, oven, switches, switchgears, etc.
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