Capex related themes like infrastructure, capital goods, cement, automation, energy efficiency, semi conductor, building materials etc will see good traction, says Devang Mehta, Director - Equity Advisory at Spark.
Devang Mehta says: The Interim Budget displayed fiscal prudence by capping the fiscal deficit for 2024-25 at 5.1%. It emphasized policy continuity and commitment to fiscal discipline. The budget included the upgradation of 40,000 bogies to Vande Bharat standards, a Rs 1 lakh crore corpus for tech-savvy growth, and lower-than-expected borrowing costs. With a focus on capital expenditure and infrastructure development, sectors like capital goods, infrastructure, power ancillaries, and renewable energy are expected to benefit.
Volatility will prevail in the short term and long-term investors should embrace it. Reacting to daily events is injurious for long-term portfolio and also hampers wealth creation, says Devang Mehta
Kaushalya Logistics, which will close its public issue on January 3, was among the 182 companies that launched their maiden IPOs during the year 2023 and cumulatively raised Rs 4,967 crore.
In Q3FY24 earnings season, most of the companies in the discretionary and non-discretionary consumption should report in decent numbers, says Devang Mehta.