Budget 2024 Expectations: Upside for Infra & Defence Stocks | Hot Picks: BEL, HAL, Adani Green
Infra and defence stocks will more likely gain as there is massive focus. If we talk about renewable energy, then Adani Green is in focus in the Budget season, according to Choice Broking.Tune in to listen to how the stock market may react to Budget announcements.
Watch the current episode for all updates from brokerage houses.
#Budget2024, #UnionBudget, #NirmalaSitharaman, #ModiSarkar3, #stockmarket, #Budgetsession, #UnionBudget24
~HT.178~PR.274~GR.125~ED.102~
Watch the current episode for all updates from brokerage houses.
#Budget2024, #UnionBudget, #NirmalaSitharaman, #ModiSarkar3, #stockmarket, #Budgetsession, #UnionBudget24
~HT.178~PR.274~GR.125~ED.102~
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NewsTranscript
00:00Hello and welcome. We are all anxiously waiting for the upcoming budget on July 23rd. And
00:09today we have here with us Kunal V. Prar, VP of Technical Research Choice Rookie. Hello
00:15Kunal.
00:16Hi Shruti.
00:17Kunal, my first question to you is, what is your overall expectations for the budget 2024?
00:25Exactly, the expectation from the budget is very high from the market and from the layman.
00:33But if you talk about particularly the specific expectation that the various sectors have
00:38been high expectation from the government, like salaried taxpayers are looking forward
00:43to significant income tax relief, so that you know, they will have some disposable income,
00:49more disposable income on their hand. If you talk about other potential changes, then you
00:53know, other sectors like defense sectors, infrastructure sectors, they're all expecting
01:01a good expectation from the budget. Corporate, they anticipate measure to enhance the ease
01:06of doing business and streamline regulations. Not only this, if you talk about manufacturing
01:12and service sectors, then they are expecting some reduction in compliance burden and simplified
01:18text structure and all. And further expectation is there from the budget. Now, they're expecting
01:23from the startups and SMEs, seek reduction in the compliance burden and more straightforward
01:29regulatory environment to foster innovation and growth. And yes, particularly if you talk
01:34about renewable energy sector that advocate for a reduction in the 12% GHG on renewable
01:39energy, we must to make compound more affordable and boost the industries. So these are the
01:44expectations that, you know, market and a few sectors are expecting from the budgets.
01:50Right. So if I had to ask you that, you know, what are your top picks before the budget,
01:57what would they be? Right now, I'm not suggesting any top picks, okay, because budget is there on
02:03this 23rd July to three days or three days to go. But if I talk about particularly on sector wise,
02:11then a few sectors are likely to be the biggest beneficiary of budget 2024,
02:18include infrastructure, defence and renewable energies. These sectors are expected to see
02:24significant positive movement. And in terms of specific stocks, I anticipate a good upside
02:29for infrastructure sectors and infra, L&T, HCC and NBCC are there. If we talk about defence,
02:37then BEL, Pulse Defence and HALs are there. And if you talk about renewable energy, then I think
02:43Adani Green would become, would be a beneficiary. So these are the stocks, you know, positioned
02:48well to benefit from the anticipated budget measures. Okay, okay. And see, the market is
02:56obviously, you know, after June 4th, it regained and you know, several times now, Nifty and Sensex
03:04has hit, they have hit all-time highs. So what is your prediction, your expectations for the
03:10second half of 2024 for Sensex and Nifty? Well, if you talk about the second half, then no doubt,
03:20Nifty has made its all-time high, Bank Nifty, Sensex all has made their all-time high.
03:24Now, if you talk about particularly on budgets reaction, particularly on market,
03:29if the budget meets investors' expectation, we could see a significant rally in the indices,
03:37Nifty potentially reaching to 25,000 and beyond. However, rather than speculating on specific
03:43level, it's more going to focus on cherry picking, particularly in terms of quality stocks. Okay,
03:49so no matter wherever Nifty will go after budget, now more focus would be on cherry picking,
03:55particularly on quality stocks, because that part only will give a good return in
04:01upcoming trading session. So this approach will better position us for long-term gains.
04:07Right, right. And one last question, Kunal, any measures that you expect from
04:14our Finance Minister, Nirmala Sitharaman, for the stock market or mutual funds?
04:21Well, two to three measures are there, which investors and mutual fund traders are expecting.
04:29Rising tax exemption bracket for LTC from 1 lakh to 3 lakhs would benefit investors. If this is
04:36not feasible, maintaining the current tax regime would help sustain market stability. Additionally,
04:42easing tax on mutual fund scheme, particularly debt mutual fund could significantly boost
04:47investors' confidence. So these are the changes or these are the implementations that, you know,
04:51investor and mutual fund investors are looking forward. Really, of course, of course. So,
04:56you know, populist or not, you know, stock market is very, very closely, it is going to watch the
05:04upcoming budget very, very closely. All investors and traders are very anxious and, you know,
05:10we are expecting a populist budget too. Thank you, Kunal, for joining us on the show today.
05:18That was Kunal Prar, VP of Technical Research, Choice Broking. Thank you, Kunal.