Budget 2024: 3 Stocks to Watch with Potential Gains

The Indian stock market is buzzing with anticipation ahead of the 2024 Union Budget, with infrastructure, railways, and power sectors expected to receive a significant boost. Investors are eyeing these potential beneficiaries:

Top Budget Picks:

1. Larsen & Toubro (CMP ₹3636, Target ₹4400): A leading infrastructure company poised to benefit from increased government spending in this sector.
2. Ambuja Cement (CMP ₹685, Target ₹800): A prominent cement manufacturer that could see a rise in demand due to infrastructure projects.
3. Jyothy Labs (CMP ₹493, Target ₹575): A consumer goods company positioned to benefit from potential budget measures stimulating rural spending.

5 Penny Stocks Gained Up to 23% Last Week: Risky or Rewarding?

Analyst Insights:

Stocbox, a brokerage firm, believes infrastructure will remain a key focus, fueled by government investment in housing, defense, railways, renewables, and power. They also anticipate a balanced approach to managing the fiscal deficit.

Beyond Budget:

While these picks are budget-specific, Stocbox highlights the continued appeal of IT stocks like Infosys due to their strong cash flow generation and potential improvement in IT spending as interest rates stabilize.

Your Money, Your Future: Smart Money Management for the Middle Class

Banks to Consider:

Despite slower growth projections for the banking sector, Stocbox suggests “Comfortable CD ratio banks” like ICICI, Federal Bank, City Union Bank, SBI, and DCB. These banks offer attractive valuations based on PEG ratios, ROA, and ROE.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Consult with a licensed financial advisor before making investment decisions.

Buying a Home in Your 40s: Financial Considerations and Beyond