The Union Budget s impact on the stock market has reduced in recent years, but this time it could be significant for certain stocks. The government is expected to focus on capex spend, particularly on road infrastructure, capital goods, manufacturing, automobile, healthcare, and financial services. The budget may also support sectors like railways, defence, real estate, and affordable housing. Defence stocks related to R&D, UAV/drones, and anti-drone systems could benefit.
Following the announcement, shares of Borosil Renewables, IREDA and Waaree Renewable Technologies scaled their all-time high of Rs 667.40, Rs 190.95 and Rs 4031.55, respectively, in the morning trade. Meanwhile, Tata Power also scaled its life-time high of Rs 396.40 during the trade.
Budget 2024: The proposed rooftop solar initiative in the budget is expected to bring about significant benefits for households, with anticipated savings ranging from fifteen to eighteen thousand rupees annually.
Within the confines of the available fiscal space, the government is channeling enough for capex which is almost 40% of the additional total outlay. This is being directed to roads, railways, and defence and it can have positive linkage effects with industries like steel, cement, capital goods etc, Way2Wealth said.
Axis Securities highlights five key sectors that may benefit from this interim budget 2024 financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.