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IDFC shares fall; no budget benefit seen
RC Bhargava, Chairman, Maruti Suzuki India, however, said that the two-wheeler segment will not be affected by excise duty hike.
19 Mar 2012, 01:17 PM IST 
Shinzo Nakanishi, Managing Director, Maruti Suzuki India
Shares in Infrastructure Development Finance Co dropped 4 per cent as the Union Budget unveiled on Friday was seen favouring government-backed companies at the expense of those with private ownership.
IDFC will not benefit from the government's plans to double the issuance of tax free bonds to finance infrastructure projects to Rs 60,000 crore, which helped boost some of its state-owned rivals such as Power Finance Corp on Monday.
Also weighing on IDFC were valuation concerns, with shares up 58 per cent this year as of Friday, compared with a 15 percent gain in the Nifty index.
Copyright Thomson Reuters 2012