IDFC shares plunged by 6% and touched the weekly low Rs136.50, 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 Rs60,000 crore, which helped boost some of its state-owned rivals such as Power Finance Corp on Monday.
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IDFC will not benefit from the government's plans to double the issuance of tax free bonds to finance infrastructure projects to Rs60,000 crore, which helped boost some of its state-owned rivals such as Power Finance Corp on Monday.
....more info