Trade Terminal - Budget Wrap Up

Week 27 - 30/06/19 to 06/07/19

Weekly Gainers

Script Name CMP Weekly Gains

Adani Power 63.65 12.30 (23.95%)

Indiabulls Ventures 336.70 62.35 (22.73%)

Indiabulls Hsg. Fin. 727.35 119.65 (19.69%)

Dish TV India 30.35 3.30 (12.20%)

DHFL 80.20 8.15 (11.31%)

IndusInd Bank 1532.55 122.05 (8.65%)

L&T Finance Holdings 124.05 8.90 (7.73%)

Weekly Losers

Script Name CMP Weekly Loss

UPL 665.80 -271.65 (-28.98%)

Quess Corp 444.65 -133.85 (-23.14%)

Yes Bank 88.15 - 20.60 (-18.94%)

L&T Infotech 1665.70 -163.75 (-8.95%)

Reliance Infra 51.15 -4.45 (-8.00%)

Sun Pharma Inds. 375.25 -25.70 (-6.41%)

Engineers India 113.65 -7.70 (-6.35%)

FII Holdings - June, 2019.
Divergence in Finance Sector
Union Budget Analysis : 2019-20 courtesy : CARE Ratings
Union Budget : Fiscal Scenario

- The size of the FY20 budget at Rs 27.9 lakh crs is 13% higher than year ago

- Fiscal deficit for FY20 budgeted at Rs 7.0 lkh cr or 3.3% of GDP, 0.1% lower than revised estimates of FY19(RE)

- Gross market borrowings for FY20(BE) have been estimated at Rs 7.1 lkh cr (unchanged from interim budget).

- Government plans to raise a part of its gross market borrowing in external markets in external currencies

- Enhanced disinvestment target of Rs 1.05 lkh cr for FY20(BE), Rs. 0.25 lkh cr. higher than FY19(RE)

- Revenue receipts budgeted at Rs 19.6 lk cr, a 13% increase from FY19 (RE)

- The upward revision in GDP growth for FY20 has led to lower projection of fiscal deficit target

- The lower fiscal deficit target indicates the commitment towards fiscal consolidation
Union Budget - TAXATION
FOR INDIVIDUALS:

- Tax rebate for income up to Rs 5 lkh

- Additional income tax deduction of Rs. 1.5 lakh each

- on interest paid on loan taken to purchase of electric vehicle and
- on interest paid on loan taken to purchase house (valued up to Rs. 45 lakhs

- The tax rebates and tax deduction could aid in improving consumption

- Enhance surcharge on individuals having taxable income from Rs 2 cr. to Rs 5 cr. and Rs 5 cr. and above which
would increase the effective tax rate by 3% to 7% respectively

- TDS of 2% on cash withdrawal exceeding Rs 1 cr. in a year

- Measures to simply filing of income tax returns

(pre-filled income tax returns interchangeability of AADHAR and PAN)

FOR CORPORATES : Lower corporate tax rate of 25% for companies with annual turnover up to Rs 400 cr
(raised form Rs.250 crs) . This would improve corporate profitability and could potentially stimulate investments.
Union Budget - Expenditure Towards Social Schemes
Union Budget : Banking & Financial Institutions

• Budgetary support to banks and financial institutions:

- Banking recapitalisation of Rs 70,000 cr. If this is used only for bank lending it could increase bank
credit lending upto Rs 6 – 6.5 lakh Crs under ceteris paribus conditions

- For purchase of high-rated pooled assets of financially sound NBFCs aggregating Rs 1 lkh cr. during the
current financial year government to provide one time six months' partial credit guarantee to public sector banks
for first loss of up to 10%

• Regulation:

- Requirement of maintaining a debenture redemption reserve for public placement of debt has been removed.

- Regulation authority of Housing Finance Companies have been moved from NHB to RBI

- These measures would help improve investor sentiments and overall confidence in the segment
Union Budget - Additional Borrowing by Public Sector Enterprises
Union Budget - Infrastructure
Union Budget - Automobiles & Auto components Positive
Union Budget - Consumer Durables Positive
Union Budget - Paper & Paper Products Positive
Union Budget - Education Positive
Union Budget - Real Estate Positive
Union Budget - Ceramics Positive
Union Budget - Media & Entertainment Positive
Union Budget - Steel Positive
Union Budget - Non Ferrous Metals Positive
Union Budget - Gems & Jewellery Negative
Union Budget - Renewable Energy Negative
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