Experts see the Union Budget 2024’s slide as an opportunity for long-term investors despite the Indian stock market’s negative reaction. They said that the Spending plan 2024 intends to move financial development with a dream of situating India as the third-biggest economy.
They believe that the manufacturing, infrastructure, defense, and power sectors can still be considered from a medium to long-term perspective, even if they did not rule out market knee-jerks shortly.
Stocks To Buy After Budget 2024
Sugandha Sachdeva of SS WealthStreet provided the following nine shares as stocks to purchase following the 2024 Budget:
1] SBI Card: Buy at ₹680 to ₹685, target ₹840, stop loss ₹595;
2] Oberoi Realty: Buy at ₹1570 to ₹1580, target ₹2050, stop loss ₹1280;
3] RITES: Buy at ₹650 to ₹660, target ₹880, stop loss ₹520;
4] KPIT Tech: Buy at ₹1690 to ₹1695, target ₹2080, stop loss ₹1500;
5] HBL Power: Buy at ₹540 to ₹550, target ₹765, stop loss ₹430;
6] Rajesh Exports: Buy at ₹310 to ₹312, target ₹435, target ₹225;
7] Ramco Cement: Buy at ₹790 to ₹795, target ₹965, stop loss ₹680;
8] NCC: Buy at ₹335, target ₹435, stop loss ₹270; and
9] Tata Consumer: Buy at ₹1220 to ₹1230, target ₹1480, stop loss ₹1070.
Triggers For Market In Budget 2024
The delicate balance between fiscal prudence and welfare programs, particularly in Bihar and Andhra Pradesh, is the budget’s main highlight. The government continues to prioritize the creation of jobs, the improvement of infrastructure, the enhancement of the ecosystem for manufacturing, renewable energy, and newer industries, as well as the provision of individuals with disposable income, with a particular emphasis on rural income.
Budget 2024 Aims To Propel Economic Growth – Union Minister
India’s position as the third-largest economy is one of the goals of Union Budget 2024, which aims to propel economic growth. The spending plan centers around different areas while sticking to a financial union guide, fixing the monetary deficiency for FY25 at 4.9% of the Gross domestic product, down from the interval financial plan gauge of 5.1.
This is favorable for the economy from a long-term perspective as the government is committed to bringing it down to 4.5% of the GDP for FY26.
