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February 01, 2017

LIVE Union #Budget 2017-18: Big IT cos should buyback #shares as PE at 20-25 yr low, says pro #Finance Minister Arun Jaitley will present the Union Budget 2017-18 in Parliament today. Catch live #updates here.

LIVE Union #Budget 2017-18: Big IT cos should buyback #shares as PE at 20-25 yr low, says pro

 #Finance Minister Arun Jaitley will present the Union Budget 2017-18 in Parliament today. Catch live #updates here.

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  1. 9:30: IT stocks continue to be under pressure. Nilesh Shah of Envision feels that downside in these stocks is limited because they are now available to 20-25 year low in terms of price earning multiples. It may not be a bad idea for the big IT companies to buyback their shares as they have loads of liquidity and also getting the shares cheap 9.15 am: The market has crawled higher at open. The Sensex is up 48 points while the Nifty is up 20. Equities have had a sterling run recently and Budgets sometimes tend to be inflection points for the market. (Last year, the Nifty bottomed out at 6,800 ON the Budget day.) Will it be a similar day today -- and could the market turn lower? Not to mention, global markets too seem to be tiring out as the Donald Trump honeymoon ends a bit pre-maturely. 9.10 am: The most important things to watch out for in the Budget are: fiscal deficit target, stimulus policies (especially those aimed at rural India) to counter the slowdown impact of demonetisation, decisions on income and corporate tax rates and any announcements on promoting digital payments or universal basic income. 9.05 am: Economist Jahangir Aziz of JPMorgan thinks the government will stick to the path of fiscal consolidation. That is against the contrarian view being taken by some that the government will go off its fiscal consolidation glidepath. Watch the interview here . 9.00 am: The rupee has opened at 67.65 per dollar ; rising 22 paise. 8.50 am: The pre-market setup is pointing to a firm start for the markets. Historically, the markets tend to start flat to higher on Budget days, and after witnessing some volatility, ends usually lower. 8.47 am: Meanwhile, you can ask Finance Minister Arun Jaitley any question on Twitter using the hashtag #MyQuestiontoFM. There's no saying, of course, how many questions he will respond to today. 8.45 am: Here's bad news for gold lovers (we mean mostly all Indians). Gold prices may continue to remain on the higher side as the import duty on gold is unlikely to come down this Budget. Read why. 8.43 am: The Finance Ministry Twitter handle is keeping is putting out informative tweets. Here's one one Budget glossaries. 8.40 am: Meanwhile, we're still analysing the Economic Survey that came out yesterday. "Notwithstanding the populist undertone of the President’s speech that preceded the release of the Survey, we do not expect the fiscal math to go awry." Read more. 8.35 am: Traders take note: CNBC-TV18's Anuj Singhal tells you what to do in the market. (VIDEO) 8.30 am: We've put up our curtain raised on what to expect from the Budget speech today. Read here: Arun Jaitley's fourth Budget could signal a breakout year . 8.20 am: CNBC-TV18 is reporting that Lok Sabha speaker will take a call on whether the Budget presentation will take place as per schedule. 8.15 am: Speculation is rife that the MP's passing away may defer the presentation of the Union Budget. Protocol dictates that Parliament be adjourned for a day on the passing away of a sitting MP. 8.10 am: Okay, here's the first bit of news: Kerala MP and former External Affairs Minister E Ahamed passed away overnight. He suffered a cardiac arrest yesterday while President Pranab Mukherjee was making a speech ahead of the tabling of the Economic Survey. 8.05 am: The biggest day on India's policy calendar is here and it brings with an emotional roller-coaster ride driven by announcements, speculation, interpretation and analyses. 8.00 am: Welcome to the live coverage of the Union Budget 2017-18. We're going to get you breaking news, provide on-the-fly commentary and point you to interesting news pieces across our website and elsewhere. Stay tuned.


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