Equity Report on 06/03/2013 by http://www.researchvia.com ~ Construction stocks build on thrust on infra sector in Budget

Service tax abatement on homes and flats with a carpet area of 2000 square feel or more or of a value of Rs 1 crore or more has been reduced from 75% to 70%. However the existing exemptions from service tax for low cost housing and single residential

Indore, India (prHWY.com) March 6, 2013 - Key benchmark indices edged higher as world stocks rose as a bullish survey on the US service sector fed on Tuesday, 5 March 2013, into indications that the US economy is gradually improving. United States is the world's biggest economy. Index heavyweight and cigarette maker ITC extended intraday losses in late trade. Another index heavyweight Reliance Industries (RIL) edged higher. Capital goods stocks rose on renewed buying. Realty stocks surged.

Key benchmark indices edged higher in early trade on firm Asian stocks. The barometer index, the 30-share S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit their highest level in almost one week. The market trimmed initial gains in morning trade. Metal stocks gained for the second straight day after the China on Tuesday, 5 March 2013, announced economic growth target of 7.5% for 2013. China is the world's largest consumer of copper and aluminum. Sterlite Industries, JSW Steel, Bhushan Steel, Hindustan Zinc, Jindal Steel & Power, Hindalco Industries and Sail rose by 0.35% to 4.65%.

Realty stocks surged. HDIL, Sobha Developers, Unitech and D B Realty rose by 3.23% to 12.23%. The finance minister proposed levy of TDS at the rate of one percent on the value of the transfer of immovable property where the consideration exceeds Rs 50 lakh in Union Budget 2013-14, which was unveiled on 28 February 2013.

Service tax abatement on homes and flats with a carpet area of 2000 square feel or more or of a value of Rs 1 crore or more has been reduced from 75% to 70%. However the existing exemptions from service tax for low cost housing and single residential units will continue.

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