Key Budget Stocks to Consider Following the Union Budget 2023

Tuesday, 23 July 2024, 04:09

The 2023 Union Budget presented by Nirmala Sitharaman emphasizes growth in capex sectors, particularly in defense, renewable energy, and rail modernization. Over the years, the Sensex has shown an average return of 5.7% post-budget announcements. Investors are advised to consider stocks like UltraTech and NTPC while keeping an eye on the government's focus on infrastructure funding. Overall, strategic investment in these sectors could lead to significant long-term gains.

Economictimes — Key Budget Stocks to Consider Following the Union Budget 2023

Overview of the Union Budget 2023

Nirmala Sitharaman's Union Budget of India focuses on several key growth sectors including:

Defense indigenization
Renewable energy initiatives
Rail modernization

Market Performance Post-Budget

Historically, the Sensex has delivered an average return of 5.7% after budget announcements. Notably, the performance varied across budget years:

2021: Noteworthy gains
2020: Limited impact

Strategic Investment Opportunities

Analyst Samir Arora suggests that investors stay alert for:

Strategic debt management
Private sector gains
Potential picks such as UltraTech and NNPC

Conclusion

In conclusion, with a focus on infrastructure and an emphasis on capex, this budget presents investment opportunities that could yield favorable returns.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Overview of the Union Budget 2023

Market Performance Post-Budget

Strategic Investment Opportunities

Conclusion

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