Investors are watching the many industries that stand to gain from Nirmala Sitharaman’s comments as the budget’s main themes are anticipated.
On July 20, 2023, Finance Minister Nirmala Sitharaman is scheduled to deliver the Union Budget 2024. According to brokerage company JM Financial, The government should strike a balance between social expenditures, capital investment for growth, and fiscal deficit management.
While investors anticipate the major themes of the Budget, they are keeping an eye on several industries that stand to gain from Nirmala Sitharaman’s statements. JM Financial listed several firms as probable targets ahead of the Budget, including Mahindra & Mahindra Ltd., Hero MotoCorp Ltd., ITC Ltd., Sumitomo Chemical India Ltd., Reliance Industries Ltd., Power Grid, and NTPC Ltd. Other stocks on the list are Ambuja Cements Ltd., Larsen & Toubro Ltd., DLF Ltd., Sanghvi Movers Ltd., Bharat Electronics Ltd., Bharat Forge, VA Tech Wabag Ltd.,
FMCG industry: Businesses in this sector might benefit from increased maximum contributions to Section 80C tax-saving plans, enlarged tax slabs, and future tax incentives. Examples of such businesses are Dabur India, Hindustan Unilever (HUL), Godrej Consumer, and Nestle India.A rise in the excise duty on cigarettes and tobacco products would be detrimental to cigarette manufacturers like ITC and Godfrey Phillips.
Infrastructure, railroads, and defense: While more capital expenditure on defense would be advantageous for stocks such as Bharat Electronics (BEL) and Hindustan Aeronautics (HAL), it would also aid stocks such as RVNL, Titagarh Rail Systems, IRCON, and BEML.
