Budget boost: Anticipating robust growth, metals sector set for upswing!

Do you own these metal stocks that delivered multibagger returns since the last budget?

The Finance Minister, Nirmala Sitharaman, initiated her speech by emphasizing that the government's foremost priorities are addressing the requirements and aspirations of the poor, women, youth, and farmers. She further conveyed that the economy is performing positively, and inflation remains at a moderate level.

The Budget 2023-24 has placed a significant focus on infrastructure and development, signalling long-term benefits for the metals and mining sector. The government is steadfast in maintaining this stance moving forward. In the interim budget for 2024, there is a proposal to increase capital expenditure for the fourth consecutive year by 11.1 per cent, amounting to Rs 11.11 lakh crore.

Steel production and consumption serve as crucial indicators of economic progress and industrial development, forming the backbone of any economy. Positive announcements related to infrastructure, real estate, defence and railways are certain to foster optimism within the metals industry, considering the extensive use of iron, steel and other metals in these areas.

The finance minister stated that the execution of the PM Awas Yojana Rural is ongoing, and we are on the verge of reaching the goal of 3 crore houses. An additional 2 crore houses will be undertaken in the next five years to address the increased demand resulting from the growth in the number of families. A total of 40,000 rail bogies are slated to undergo conversion to Vande Bharat standards. The number of airports is set to be doubled, reaching a total of 149. Furthermore, Indian carriers have committed to procuring 1,000 new aircraft through their placed orders.

Since the last budget, these stocks have yielded multibagger returns, significantly enhancing the wealth of investors by substantial margins-

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