Maintaining that Finance Minister Arun Jaitley had done a better job than he had even expected, HCC chairman and managing director said the Union Budget the FM presented today was disinflationary, lead to lower interest rates and kick-start the investment cycle.
Maintaining that Finance Minister Arun Jaitley had done a better job than he had even expected, HCC chairman and managing director said the Union Budget the FM presented today was disinflationary, lead to lower interest rates and kick-start the investment cycle.
"The Budget lays out a fiscal consolidation roadmap of achieving 3 percent deficit in three years. It proposes to form an expenditure reform committee that will take an informed and apolitical view of expenses management," he said.
The HCC chief also hailed Jaitley's move to open the agriculture market by proposing to provide a market for farmers to sell their goods in and said the Budget had done enough to boost the infrastructure as well.
Also read: Budget 2014: Hits, misses in Arun Jaitley's maiden policy statement
"He (Jaitley) covered everything from roads, railways, ports to even new cities," Gulabchand said, adding that the FM's idea to providing clarity on the tax regime for real estate and infrastructure investment trusts would facilitate funding into the sectors.
Even as he was expecting the FM to conclusively repeal the law on retrospective taxation – a move that did not come through – Gulabchand said the FM had done the "next best thing".
"He made clear the law would be applied in the rarest of rare cases," he said. "The intent statement was clear: we are not going to mess with this unless absolutely necessary."
Hind Constr stock price
On July 10, 2014, Hindustan Construction Company closed at Rs 42.50, up Rs 0.20, or 0.47 percent. The 52-week high of the share was Rs 49.00 and the 52-week low was Rs 7.75.
The company's trailing 12-month (TTM) EPS was at Rs 1.25 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 34. The latest book value of the company is Rs 19.38 per share. At current value, the price-to-book value of the company is 2.19.
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