Budget 2024: These stocks and sectors may gain from Nirmala Sitharaman's announcements

As key themes of the Budget are awaited, investors are watching different sectors which can benefit from Nirmala Sitharaman's announcements.

Updated on: Jul 18, 2024, 11:45:31 IST

By HT News Desk | Edited by Mallika Soni

Prefer HTon Google

Share via

Copy link

Finance minister Nirmala Sitharaman is all set to present the Union Budget 2024 on July 2023. As per brokerage firm JM Financial, the government is expected to balance fiscal deficit management, capital expenditure for growth, and social spending. As key themes of the Budget are awaited, investors are watching different sectors which can benefit from Nirmala Sitharaman's announcements.

The Union budget 2024 is scheduled to be presented on July 23 by finance minister Nirmala Sitharaman, who will become the first finance minister to present seven consecutive Union budgets in a row, surpassing Morarji Desai, who presented six consecutive budgets.

Follow LIVE updates on Budget here

Which stocks may benefit from the Union Budget?

JM Financial highlighted several stocks that are expected to be in focus ahead of the Budget which include Mahindra & Mahindra Ltd, Hero MotoCorp Ltd, ITC Ltd, Sumitomo Chemical India Ltd, Reliance Industries Ltd, Power Grid, and NTPC Ltd. Other stocks in the list include Sanghvi Movers Ltd, Bharat Electronics Ltd, Bharat Forge, VA Tech Wabag Ltd, Larsen & Toubro Ltd, DLF Ltd, Ambuja Cements Ltd, APL Apollo, PFC, and IRCON International Ltd.

Which sectors are likely to benefit from the Union Budget?

FMCG sector: FMCG firms such as Dabur India, Hindustan Unilever (HUL), Godrej Consumer, and Nestle India may benefit from potential tax cuts, expansion in tax slabs, or increase in the limit for tax-saving investments under Section 80C. Increase in excise duty on cigarettes and tobacco products would negatively impact cigarette manufacturers like ITC and Godfrey Phillips.

Read more: Want to add Defence stocks in your portfolio before Budget? Here's when to buy them

Defence, railways, and infrastructure: Increased allocation for defence capital expenditure would be positive for stocks like Bharat Electronics (BEL) and Hindustan Aeronautics (HAL) whereas higher capital spending on railway infrastructure would benefit stocks like RVNL, Titagarh Rail Systems, IRCON, and BEML.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Catch every big news on Budget 2026, Nirmala Sitharaman announcements, income tax changes and much more on a one stop destination.