Jan 06, 2017
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Mahesh Nandurkar of CLSA says a combination of gains from demonetisation (estimate Rs 75,000 crore) and a partial relaxation of the fiscal roadmap should enable the Government to raise its overall spend by Rs 2 lakh crore YoY in FY18, i.e. the same jump as the last year. This higher spend would only be an internal re-allocation of funds and not a net boost to the economy as the overall fiscal deficit should still reduce YoY, he feels. He believes consumer staple companies, two-wheeler makers, Mahindra & Mahindra and cement producers should benefit.
A change in the definition of 'long term' for capital gains tax could impact sentiment for equities, Nandurkar says. 9:25 am Market gains: The market surged higher with the Nifty briefly touching 8300. The Sensex is up 91.62 points or 0.3 percent at 26969.86 and the Nifty is up 24.75 points or 0.3 percent at 8298.55. About 989 shares have advanced, 312 shares declined, and 423 shares are unchanged. ONGC, Hero MotoCoro, Tata Motors, GAIL and NTPC are top gainers while TCS, Infosys, Wipro, Bharti and Axis Bank are losers in the Sensex.
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