Among smallcaps, Kaveri Seed was LIC ownership reducing by about half to 2.66% in Q3. In MOIL, LIC stake fell from 7.42% to 5.46% quarter-on-quarter, shows ACE Equity data.
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.
Neeraj Chadawar says: "The anticipation of political continuity in the upcoming 2024 general elections has heightened market confidence, providing increased visibility on policy continuity. This, in turn, is expected to sustain the growth momentum of the domestic economy. Given these factors, we foresee that the Indian equity market will maintain a higher premium to emerging markets (EM) over the next year."
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