Shares of chemical companies edged up amid reports that the government is planning to offer tax incentives to promote 'Make in India' for the chemical sector.
Tata Chemicals is currently trading at Rs. 317.00, up by 5.25 points or 1.68% from its previous closing of Rs. 311.75 on the BSE. The scrip opened at Rs. 319.00 and has touched a high and low of Rs. 319.20 and Rs. 313.75 respectively. So far 191712 shares were traded on the counter.
Gujarat Alkalies & Chemicals is currently trading at Rs. 349.60, up by 5.30 points or 1.54% from its previous closing of Rs. 344.30 on the BSE. The scrip opened at Rs. 349.95 and has touched a high and low of Rs. 356.00 and Rs. 347.15 respectively. So far 11886 shares were traded on the counter.
India Glycols is currently trading at Rs. 284.25, up by 2.15 points or 0.76% from its previous closing of Rs. 282.10 on the BSE. The scrip opened at Rs. 283.30 and has touched a high and low of Rs. 289.00 and Rs. 280.70 respectively. So far 18619 shares were traded on the counter.
The government is expected to offer tax incentives of 100 per cent for the first five years while the same will be limited to 75 per cent for the next five years and 50 per cent for five years thereafter. The government may also infuse capital between 10 per cent and 20 per cent.
