The equation for a neutralisation reaction is acid plus base equels salt plus water.
Water and most salt solutions are neutral. When a base reacts with an acid, the PH of the solution rises until there is no acid left. At this point the alkali has exactly reacted with the acid and you are left with only salt and water. The solution is neutral.
When metal oxide and hydroxides neutralise acids they form salts. The name of the salt formed comes partly from the metal and partly from the acid. For example