Jain Irrigation benefits

Jain Irrigation rose over 4% to Rs.138.75 but some profit booking at these levels came in and the stock is now ruling at Rs.135 levels. Its 52-week high is at Rs.146.40.

The company is a beneficiary of the new GST rate.

The GST Council yesterday announced that the GST rate on drip irrigation systems including laterals, sprinklers products has been brought down from 18% to 12%.

These new rates will be effective 25th Jan.

The good part  - this 6% benefit which the company will get, it has decided to pass it on to the customers.

As the Budget draws near, this is one stock which is always a gainer and in the pre-Budget rally, it always a major draw. Thus in coming days, this counter will see a lot of activity.