The heavy on capex Budget-2022 looks poised to give a booster dose to these stocks!

These stocks have rallied after the Budget announcement

Finance Minister Sitharaman presented the vision document of the Modi Government in Budget 2022. 

The benchmark indices closed on a positive note with Sensex gaining 695 points or 1.18% to close at 59558. The key highlight of the budget is the steep jump in the capex by the Government of Rs 7.5 lakh crore to address the issues of unemployment and demand revival. 

Following stocks emerged as the day’s gainer and are well-positioned to benefit from Budget 2022.

Larson and Tubro (L&T) 

A name that is synonymous with infrastructure development in the country is L&T. The stock surged 4.31 per cent on the Budget trading session to close at Rs 1991.15.

Tata Steel 

Metal stocks were in action with the Metal index emerging among the top gainers for the day rallying 4.92 per cent. Tata Steel surged 7.57 per cent outperforming the benchmark indices and the sector index. 

Shree Cement  

Exuberance ran through most of the cement stock with Shree Cement rallying 5.03 per cent while Ultratech Cement and Ambuja Cement gaining 4.13 per cent 4.19 per cent, respectively.

Indian Hotels Company  

One of the worst-hit sectors by the pandemic, handholding by the Government was much awaited in the budget. The ECLGS scheme in the budget just served to boost the hospitality sector. Shares of Indian Hotels Company soared 3.23 per cent to close at Rs 222.35.

ITC 

No news turned out to be good news for ITC, where a tax hike was apprehended. No change in the tax was a relief for the stock which rallied 3.45 per cent to close at Rs 227.72 on February 1.