These stocks and sectors are expected to experience positive outcomes or gains as a result of the announcements made by Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on July 23. According to JM Financial, the government plans to manage fiscal deficit, invest in growth through capital expenditure, and allocate funds for social programs. Investors are keenly observing sectors that could gain from Sitharaman’s upcoming Budget announcements.

Key Stocks to Watch from each sector in the Union Budget.

1. Capex

Continued high spending on roads, power, city development, and railways is expected to boost long-term economic growth. Stocks to keep an eye on include:

• Larsen & Toubro (L&T)
• KNR Constructions
• PNC Infratech

2. Railway

There are expected to be substantial investments in Indian Railways to expand and modernize infrastructure, including building new lines, redeveloping stations, and introducing modern trains. Stocks to watch include:

• IRCTC
• Container Corporation of India
• Titagarh Wagons

3. Affordable Housing & Urban Development

The government is expected to provide funding for affordable housing and develop new satellite townships near major cities with metro connectivity. Stocks to watch include:

• DLF
• Godrej Properties
• Oberoi Realty

4. Defence

There is anticipation of a larger defence budget allocation for modernizing the armed forces, acquiring advanced technology, and promoting indigenous manufacturing. Stocks to monitor include:

• Bharat Electronics (BEL)
• Hindustan Aeronautics (HAL)
• Bharat Dynamics

5. Agriculture

There is an expectation of increased Minimum Support Prices (MSP) for key crops, enhancements to the PM Kisan Samman Nidhi scheme, and improvements in agricultural infrastructure like storage, irrigation, and processing facilities. Stocks to keep an eye on include:

• Mahindra & Mahindra (M&M)
• Escorts
• UPL

6. Healthcare

Continued expansion of the Ayushman Bharat scheme and focus on health services for women and senior citizens are likely to bring back focus on the following stocks:

• Apollo Hospitals Enterprise
• Fortis Healthcare
• Sun Pharmaceutical
• Cipla

7. MSMEs

Small businesses (MSMEs) might see advantages from government efforts to expand credit programs like Mudra loans and support startups through initiatives such as the Startup India Seed Fund Scheme. Keep an eye on these stocks:

• HDFC Bank
• Kotak Mahindra Bank
• Tata Consultancy Services (TCS)
• Infosys

8. Job Creation

Focus on building infrastructure projects and public welfare programs could generate job opportunities, especially in rural areas. Keep an eye on these stocks:

• L&T (Larsen & Toubro)
• TCS (Tata Consultancy Services)
• Infosys

9. Renewable energy

The government’s efforts to promote clean energy technologies such as green hydrogen, solar power, and wind projects are likely to help these companies:

• Tata Power
• Adani Green Energy
• NTPC
• Inox Wind
• Suzlon Energy

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