HomeEconomy NewsEditor’s Take | Key stocks to watch out for today
If there are increased budgetary allocations for defence companies, then Hindustan Aeronautics Ltd (HAL), Bharat Forge, Bharat Electronics Limited (BEL), Mazagon Dock and Paras Defence could benefit.
By Sonia Shenoy July 23, 2024, 9:47:39 AM IST (Published)
Finance Minister Nirmala Sitharaman will deliver her seventh consecutive Budget today (July 23, 2024).
Five sets of stocks that one needs to watch out for in budget 2024. To begin with infrastructure and power names – stocks like Larsen and Toubro (L&T), Power Grid, NTPC and Tata Power. The focus of the government has been on public capex this time and hence, the Street will be watching out for these names.
From the fast-moving consumer goods (FMCG) space, Hindustan Unilever Ltd (HUL), Marico, Britannia Industries, and Dabur India – there is an expectation that there will be increased allocation to spur rural consumption. Rural India accounts for 35% of FMCG sales, and a prolonged slowdown in rural India has been seen. So anything on this front would boost these names.
Also Read | Budget 2024: Experts anticipate 5.1% fiscal deficit and tax rationalisation
Now stocks like Can Fin Homes, PNB Housing, and Home First Finance are next on the radar. This is the affordable housing space and as per media articles, the government may unveil a new ₹60,000 crore interest subsidy scheme for the urban poor and middle class for five years.
Green mobility companies are a big focus area for the government and companies like Mahindra and Mahindra (M&M), Bajaj Auto and Tata Motors are big players in this space.
Also Read | Editor’s Take: Continuity in policy and fiscal math is expected in Budget 2024
An announcement of Faster Adoption and Manufacturing of Electric Vehicles (FAME) III schemes for hybrid and electric vehicles (EVs) could be a positive for these companies.
And finally, the darlings of the stock market have been defence stocks. So Hindustan Aeronautics Ltd (HAL), Bharat Forge, Bharat Electronics Limited (BEL), Mazagon Dock and Paras Defence – if indeed there are increased budgetary allocations for defence companies, then these stocks could benefit.
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