Budget 2012 positive for infrastructure companies: KR Choksey
The creation of infrastructure debt fund, issuing Rs 60,000 crore tax free bonds, reduce withhold tax to 5% are major positive steps for the infrastructure sector.
By ET Bureau | Updated:
MUMBAI: The creation of infrastructure debt fund, issuing Rs 60,000 crore tax free bonds, reduce withhold tax to 5% are major positive steps for the infrastructure sector, say KR Choksey Research report.
“The first infrastructure debt fund, Rs 8,000 crore, launched earlier this month in order to tap overseas market to finance infrastructure projects on reasonable interest rates is positive for road, power & port developers,” the report said.
Budget at ET: Budget 2012 | Union Budget | Budget 2012 Highlights: Blog | Railway Budget | Budget News |Economic Survey of India
The brokerage adds that permission to PSUs like NHAI, IRFC, IIFCL, HUDCO, National Housing Bank, SIDBI, ports and power sector to raise Rs 60,000 crore will also facilitate investment in respective sectors.
The budgetary support for the road sector increased 14% YoY to Rs 25360 crore is also likely to benefit infrastructure companies.
IRB Infrastructure, Adani Ports and Reliance Infrastructure are the brokerage’s top sectoral picks.
“The first infrastructure debt fund, Rs 8,000 crore, launched earlier this month in order to tap overseas market to finance infrastructure projects on reasonable interest rates is positive for road, power & port developers,” the report said.
Budget at ET: Budget 2012 | Union Budget | Budget 2012 Highlights: Blog | Railway Budget | Budget News |Economic Survey of India
The brokerage adds that permission to PSUs like NHAI, IRFC, IIFCL, HUDCO, National Housing Bank, SIDBI, ports and power sector to raise Rs 60,000 crore will also facilitate investment in respective sectors.
The budgetary support for the road sector increased 14% YoY to Rs 25360 crore is also likely to benefit infrastructure companies.
IRB Infrastructure, Adani Ports and Reliance Infrastructure are the brokerage’s top sectoral picks.
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