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Mundra Port and Special Economic Zone touched an intraday high of Rs 150 and an intraday low of Rs 135.70. At 14:44 hrs the share was quoting at Rs 137.65, down Rs 10.15, or 6.87%.
The power sector has been one of the biggest underperformer in recent times.
The industry today welcomed the Budget terming it as "positive" and "growth-oriented" and some leaders were pleasantly surprised with the unchanged excise rate in major sectors.
Reliance Infrastructure was among major losers on the Nifty. It touched an intraday high of Rs 654.00 and an intraday low of Rs 610.05. At 14:41 hrs the share was quoting at Rs 615.60, down Rs 21.95, or 3.44%.
The government today proposed to set up a National Mission for Hybrid and Electric Vehicles to encourage manufacturing and selling of alternative fuel-based vehicles.
Capital goods industry has witnessed a dramatic slowdown in recent times due to the inability of the local manufacturers to meet the growing demand, while the Chinese equipment is relatively inexpensive and readily available.
The Plan allocation for the year 2011-12 has been proposed to step up by 20% to Rs 26,700 crore.
Aditya Birla Money has given their reaction on budget 2011.
Finance Minister Pranab Mukherjee reiterated in his budget speech today that infrastructure is critical for India's development. He has planned an alocation of Rs 2.14 lakh crore towards developing the country's infrastructure.
The stock market benchmark Sensex has surged by over 277 points mid-way through Finance Minister Pranab Mukherjee's Budget presentation, in which he proposed to keep up the tempo of the disinvestment process and contain inflation to boost the economy.
Budget reactions from Gaurav Dua, Head of Research at Sharekhan.
The benchmark Sensex shed more than 300 points from day's high though it showed stellar performance today by gaining nearly 500 points after the Union Budget 2011-12 speech delivered by Finance Minister Pranab Mukherjee.
Bringing some cheer to the industry, Finance Minister Pranab Mukherjee today lowered the surcharge tax limit on corporate tax to 5% from 7.5% even while marginally raising the Minimum Alternate Tax.
Under the on-going Indira Gandhi National Old Age Pension Scheme for Below Poverty Line (BPL) beneficiaries, the eligibility for pension will now be reduced to 60 years from 65 years at present.
India's exports of iron ore will be adversely hit by the four-fold rise in the export duty on fines announced in the federal budget, a senior trade official told Reuters.
India will provide Rs 200 billion (USD 4.4 billion) cash subsidy to state-run oil retailers for selling fuel at below market rates, the government said in its budget for 2011/12 (April-March).
Terming the Budget as "good" and "balanced", Union Home Minister P Chidambaram today said it will promote inclusive growth and the projected increase in revenues will be used for augmenting investment in health, education and security sectors.
A new series of coins will be unveiled soon carrying the Rupee symbol, Finance Minister Pranab Mukherjee announced in the Budget today.
Cement industry currently faces multiple challenges both internal and external. On one hand, demand is moderating especially in the North region and muted to negative growth in Southern region, industry is also facing higher input and fuel costs.
The General Budget 2011-12 seeks to encourage domestic value addition vis-a-vis imports, to remove duty inversions and anomalies and to provide a level playing field for the domestic industry
Budget Reaction from Manoj Chugh, President-India and SAARC, EMC Corporation.
Union Budget 2010-11 may have come as a negative/positive surprise for tobacco companies.
National carrier Air India will now get an additional equity of Rs 1200 crore . Finance Minister Pranab Mukherjee, in his 2011-12 budget presented in the Lok Sabha Monday, said: "As a part of the process for financial restructuring of National Aviation Company of India Ltd., an amount of Rs.1,200 crore has been provided."
Finance Minister Pranab Mukherjee has definitely upset technology companies by ignoring the extention of tax benefits under the STPI scheme in the Union Budget 2011-12. Also, the FM has raised the minimum alternate tax (MAT) to 18.5% from 18% as per the DTC.
Budget 2011-2012: Key to Budget Documents
