Ahead of the Union Budget 2024, top stock market experts suggest key stock portfolio for investment as market performs roller coaster: FG, L&T, UPL, Pidilite and Tata Steel.
BSE: India’s greatest listings of all time | Market Upside July 22, 2024 – In view of Union Budget 2024, experts reveal their favourite stocks to buy based on selective falls. Even though now the scenario of the Indian stock market is poor because of pathetic market signals globally, yet for those circle of experts who look for excellent investment opportunities, it is a good chance.
Market Overview
Even indices such as the Nifty 50 went below 125 points, the BSE Sensex also touched 400 points down, the Nifty Bank index went for correction below 300 points in the early trading sessions. However, it is recommended that this decline may just be a roller coaster effect during the lead-up to the Union Budget 2024, an event that will set out the direction of Modi 3. 0 Concerning the Government’s fiscal measures and its expenditure proposals for the forthcoming fiscal year.
Strategic Insights
Sugandha Sachdeva of SS WealthStreet is kind enough to offer information on the sort of changes in the View More budget that, in her opinion, are expected. She expects major headways in the areas for the creation of sustainable development and improvement of the social well-being with the smart provisions in the sectors such as agriculture, infrastructure, health, railway, power/ renewable energy, real estate business, defense, logistic and tourism. Further, new changes in income tax slabs or the new standard deduction under new tax rates are also likely to improve the disposable income.
Key Stock Recommendations
But the proven method of investment, according to Avinash Gorakshkar, the Head of Research at Profitmart Securities, is the identification of those companies that have scaled up their CAPEX and downsized their debt. The shortage of funds can be compensated for with debt, based on He recommending stocks with a history of good CAPEX, which, he believes will pay off in view of the growth-oriented budget. Especially, Gorakshkar speaks about potential opportunities in infrastructure and allied industries and banking and auto industries.
Sugandha Sachdeva also has shared the similar views and stressed on being alert and prepared to launch on opportunities that might come out of the budget announcements. She therefore advises that one should make sure that he or she continues to invest in the stock market and get ready for moments of fluctuation in the market.
Stocks to Buy Today
Ahead of the Union Budget 2024, experts recommend the following stocks:Ahead of the Union Budget 2024, experts recommend the following stocks:
Auto Segment: Some of the leading automakers in commercial vehicles and cars are Mahindra & Mahindra (M&M), Tata Motors
Banking Segment: SBI, ICICI, Axis
Additionally, experts have recommended five shares to consider before the budget: SBI Card and Rental richest, RITES richest, Oberoi Real Estate richest, KPIT Tech richest, and HBL Power richest.
While the investors wait for the presentation of Union Budget 2024, they should invest primarily in those companies that have proved capabilities to invest more in CAPEX but less in debts. These stocks are still mainly in the growth type which can provide corresponding growth potential when combined with the current expected growth-oriented budget.
Report By: Sonali Sarkar