Shares of companies related to consumer durables sector soared after Finance Minister Nirmala Sitharaman proposed a new personal income tax regime would be reduced who forego deductions and exemptions. Tax of only 10 percent will be charged to Rs 5 lakh-7.5 lakh income as against prevailing 20% rate. From Rs 7.5 lakh-10 lakh income, a tax rate of 15% against 20% prevailing rate. For income Rs 10-12.5 lakh, a rate of 20% as against 30% earlier. For income between Rs 12.5 lakh-15 lakh will be taxed at 25% as against 30%. For those at Rs 15 lakh plus income, tax will be 30%. No income tax for income up to Rs 5 lakh.
Symphony is currently trading at Rs. 1230.00, up by 13.70 points or 1.13% from its previous closing of Rs. 1216.30 on the BSE. The scrip opened at Rs. 1228.70 and has touched a high and low of Rs. 1244.90 and Rs. 1219.35 respectively.
TTK Prestige is currently trading at Rs. 5810.00, up by 30.50 points or 0.53% from its previous closing of Rs. 5779.50 on the BSE. The scrip opened at Rs. 5772.25 and has touched a high and low of Rs. 5832.65 and Rs. 5772.20 respectively.
Voltas is currently trading at Rs. 696.80, up by 1.75 points or 0.25 % from its previous closing of Rs. 695.05 on the BSE. The scrip opened at Rs. 695.75 and has touched a high and low of Rs. 708.25 and Rs. 690.45 respectively.