Budget 2017: Chemical sector in focus

While the market opened flat on this D-day, when all the eyes will be on Union Finance Minister Arun Jaitley's Budget speech on this Wednesday morning, chemical stocks will be an important one to watch out for, as it is probable that there would be a high import duty on domestic agro chemicals. 

Chemical industry is one the important constituent of the Indian economy which is estimated to contribute around 3 per cent of country's GDP. High import duty on domestic agro chemicals will benefit the domestic manufacturers in India. Domestic chemical manufacturing leaders, Tata Chemicals, UPL, Rallis India, Vinati Organics, among others already had a big rally in last one year, and it may also get a boost after Finance Minister Arun Jaitley's budget speech.

At 9:55 am, stocks in this segment are trading at :

Tata Chemicals - Rs 542.00 (-0.47 per cent)
UPL      -  Rs 722.15  (-0.36 per cent)
Rallis India      - Rs 234.85 (+0.36 per cent)
Vinati Organics -   Rs 734.00 (-0.38 per cent)
Gujarat Heavy Chemicals - Rs 268.85 (-2.96 per cent)

The stocks have opened negative on Wednesday, may see upheaval as the day reaches towards the end. Traders should be very careful while trading on the Budget day.