- Stock Market
- Jan 25, 2024
- 5 Min Read
Profitabled Picks: Stocks for Budget 2024
Finance minister Nirmala Sitharaman set to present the interim budget for financial year 2024-25(fy25) on 1 february 2024.
This year is a general election year, that's why there might not be that much for market as full-fledged budget will be presented after elections but still Market is expecting government will focus increase in capex for Infrastructure development, railway & railinfra projects, renewable energy, chemicals, pharma, agriculture as well as manufacturing.
Stocks for Fiscal Year 2024: Sector-wise Selections for Potential Two-Fold Returns
Here is a list of some of the potential stocks of respective sectors which may give two-fold returns in this fiscal year 2024.
In Renewable Energy
Government will launch "pradhanmantri suryodaya yojana" with the target of installing rooftop solar on 1 crore houses.
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Borosil Renewables LTD
Borosil renewable ltd is engaged in the manufacturing of low-iron solar glass for application in photovoltaic panels, flat plate collectors and green houses.
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Swsolar
The sterling and wilson renewable energy ltd (swsolar) is a global end-to-end solar engineering, procurement and construction (epc) solutions provider, and was the world's largest solar epc solutions are provided.
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Ireda
Indian renewable energy development agency ltd provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation.
In Infrastructure Development
For a growing economy, infrastructure development plays an important role to speedup transportation, city to village connectivity. To boost tourism aviation infra-development, rail infra development.
Road Infrastructure Development
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NCC
NCC is primarily in the construction of industrial and commercial buildings, housing projects, roads, bridges and flyovers, water supply and environment projects, mining, power transmission lines, irrigation and hydrothermal power projects, etc.
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Man infraconstruction LTD
Man infra construction company is engaged in epc (engineering, procurement and construction) in port, residential, commercial & industrial and road construction segments with projects spanning across india.
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H.G. Infra Engineering LTD
H.G. Infra engineering limited is a largest infra company in the roads & highways space also provides engineering, procurement and construction (epc) services, civil construction and related infrastructure projects in the road construction space.
Aviation Infrastructure Development
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GMR Airports Infrastructure LTD
GMR infra works in various sectors like generation of power, in development and operation of airports, development and operation of roadways and urban infrastructure.
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Adani Ports & Special Economic Zone LTD
Adani port sez is engaged in development, operations and maintenance of port infrastructure (port services and related infrastructure development).
Rail Infrastructure Development
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Rail Vikas nigam LTD
Rvnl is engaged in the business of implementing various types of rail infrastructure projects like new lines, railway electrification, major bridges, workshops, production units.
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Ircon International LTD
Ircon is an integrated engineering and construction company which focuses on major infrastructure sectors including railways, highways, bridges, flyovers, tunnels, metro, railway electrification, aircraft maintenance hangars, etc.
In Pharma
Pharma industry is expecting some incentivization for research & development infrastructure, healthcare funding, and innovation as well as speed-up in drug approval process and importation which may lead to increase in profit margins by at least 5- 10%.
Pharma stocks we must focus on,
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Lupin LTD
Lupin is one of the leading pharma companies. It develops and commercializes a wide range of branded and generic formulations, biotechnology products, and apis.by looking at its technical chart there is a clear sign of strong bullishness because of breakout to the double bottom (chart pattern) on weekly tf With 30% upside.
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Auropharma Pharma LTD
Aurobindo Pharma is a pharmaceutical company engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services. Technically it has given breakout to widening wedges chart pattern on wheely tf, which further upside.
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Zydus Lifesciences LTD
Zydus lifesciences operates in the research, development, production, marketing and distribution of pharmaceutical products.
Read Blog - How to Make More Money in 2024
In Agriculture
To reduce global dependency and boost the economy, agriculture is the next sector which will be focused in the upcoming budget (interim) 2024. Companies across the agri-tech and agrochemical spectrum are boosting this industry by prioritizing technological advancements.
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Rallis India LTD
Rallis india is tata group company, which is engaged in research, development, manufacturing and distribution of crop protection and crop nutrition solutions.
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Dhanuka Agritech LTD
Dhanuka agritech is in the production business of agro-chemicals like herbicides, insecticides, fungicides and plant growth regulators in various forms - liquid, dust, powder, and granules.
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India Pesticides LTD
IPL is an ‘agro-chemical’ business which involves manufacturing, sales and distribution of insecticides, fungicides, herbicide and various other agrochemical products.
Final Words
In conclusion, navigating the stock market classes in Budget 2024 requires strategic choices. Our Profitable Picks guide offers insights for success. For personalized wealth management, consider WealthNote - your key to financial prosperity.