Key Stocks and Themes to Watch During the Budget 2024 Announcement

Finance Minister Nirmala Sitharaman will present the first full budget of the Modi 3.0 government. This marks her seventh consecutive budget

Today at 11 a.m., Finance Minister Nirmala Sitharaman will present the first full budget of the Modi 3.0 government. This marks her seventh consecutive budget, surpassing the previous record held by Morarji Desai. The 2024-25 budget aims to bolster India’s growth trajectory, aligning with the government's vision of transforming India into a 'Viksit Bharat' by 2047.

Stocks to Watch During the Budget 2024 Announcement

1. Infrastructure and Power Stocks

L&T, Powergrid, NTPC, Tata Power: With a strong emphasis on public capital expenditure, these stocks are expected to gain attention. Watch for any significant announcements in the infrastructure sector that could positively impact these companies.

2. FMCG Stocks

HUL, Marico, Britannia, Dabur: The budget is anticipated to increase allocations aimed at boosting rural consumption, which accounts for approximately 35 per cent of FMCG sales. These stocks could benefit from measures designed to enhance rural spending power.

3. Affordable Housing Stocks

Can Fin Homes, PNB Housing, HomeFirst Finance: Market experts predict the government might introduce a significant interest subsidy scheme for the urban poor and middle class, potentially providing a substantial boost to these housing finance companies.

4. Green Mobility Companies

M&M, Bajaj Auto, Tata Motors: An announcement regarding the FAME III scheme for hybrids and electric vehicles could serve as a positive catalyst for these companies. Watch for any budgetary measures supporting green mobility.

5. Defence Stocks

HAL, Bharat Forge, BEL, Mazagon Dock, Paras Defence: If the budget includes an increased allocation for defence, these stocks could see significant benefits. Keep an eye on any defence-related announcements during the budget presentation.

Union Finance Minister Nirmala Sitharaman's seventh Union Budget and the first of the Modi 3.0 government will be presented on Tuesday, July 23. The pre-Budget Economic Survey forecasts a growth rate of 6.5-7 per cent for the financial year 2024-25.

Disclaimer: The article is for informational purposes only and not investment advice.