Budget 2018 Impact: 26 of 50 midcap stocks on NSE close in the negative

After Finance Minister Arun Jaitley's Union Budget 2018-19, EY analyses the impact of the announcements on each of the 50 midcap stocks listed on the NSE

Finance Minister Arun Jaitley on Thursday presented Union Budget 2018-19 in Parliament. This was his fifth and the Narendra Modi government’s last full Budget before heading into the 2019 general elections. Some of the market-related measured announced by Jaitley in his Budget impacted the Indian equity markets.

This EY analysis looks at the announcements in Finance Minister Arun Jaitley’s Union Budget 2018-19 that might have impacted each of the NSE’s Nifty50 stocks:

RELIANCE POWER

· Rationalization of additional deduction of 30% on new employees

· Existing secondary and higher education cess of 3% increased to 4%

· Deemed dividend under section 2(22)(e) to attract dividend