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Vijay Kedia, MD of Kedia Securities, discussed the 12.5% LTCG tax, SEBI’s speculation curbing, and hike in STT . He finds these changes reasonable and expects market corrections. The initial reaction settled quickly, suggesting market acceptance. Short-term holdings minimize the impact, while Budget clarity and ongoing corrections are expected. He says these were bound to come.

The Relative Strength Index of the stock stood at 50.82 on Tuesday.

As of 30-Jun-2024, promoters held 44.78 per cent stake in the company, while FIIs held 27.41 per cent and domestic institutional investors had 10.36 per cent.

In the Budget for FY24-25, the Modi Government 3.0 intends to focus on nine key areas: agriculture, employment, human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.

The stock quoted a 52-week high of Rs 663.4 and a 52-week low of Rs 371.45.

Sithraman said the government’s focus was on energy security and sais a policy document on energy transition pathways will be released. The PM Surya Ghar Muft Bijli Yojana was launched by the Modi 2.0 government to install rooftop solar plants, providing free electricity up to 300 units per month to 1 crore households.

A total of 25,770 shares changed hands on the counter till 12:48PM (IST).

In an effort to deter retail traders from speculating household savings in derivatives, termed as "gambling" in the Economic Survey, the Finance Minister announced an increase in securities transaction tax (STT) for the futures and options (F&O) segment during the Budget presentation on Tuesday. The revised STT rates now stand at 0.02% for futures and 0.1% for options.

Shares of MapmyIndia currently trade 9.28% higher at Rs 2,470, while that of Genesys International Co-operation are up about 7.28% at Rs 682 on the NSE.

The stock traded at a P/E multiple of 21.28, while the price-to-book value ratio stood at 2.87.