The biggest news for the Indian corporate sector from the budget was an 8per cent special duty imposed on all imports, across the board, barring a few categories. One problem here: downstream producers who add value to imports of primary material are hurt. Indian Aluminium, takeover target, adds value to imported primary aluminium, as does Hindustan Copper, which imports a large part of its copper requirement.

Backward-area benefits -- Return of the moolah

Backward area benefits are back, and cheers must be going up from companies like Mahindra and Mahindra and Premier Automobiles who have sought out some backward areas in Maharashtra, Tamil Nadu and others to invest.Steel duty cut -- CR projects soon?

Tata Steel will probably feel encouraged this year to go ahead with its cold-rolled steel project at Gopalpur or Jamshedpur, and probably the Ruias will consider concretising initial plans for a CRM complex at their hot rolled coils plant,because the finance minister has increased import duties on cold rolled steel from 25 to 30 per cent, and reduced duties on vital raw material stainless steel scrap from 10 per cent to 5 per cent.

Housing sops -- Cement may prosper

Cement producers ACC, Larsen & Toubro, Gujarat Ambuja, among others, are all likely to reap immense benefits, due to demand push from the budget proposal to offer mega sops to the housing sector. The prices, which have started to look up , are likely to firm up further resulting in a positive impact on their bottomlines.

Caprolactam duty cut -- GSFC gains

GSFC, the biggest manufacturer of caprolactam, will get protection, so that the intermediate will be on par with the PTA, DMT, MEG manufactured by Reliance Industries, Bombay Dyeing etc. Also, paraxylene, will see greater price competition following cut in import duty by five per cent.