Suzlon Energy, ITC, Tata Power, RVNL, IRCON, RITES, PFC In the next Union Budget, Modi’s team aims to balance social spending, growth investments, and fiscal deficit. JM Financial predicts focus on current investments, more funds for rural areas, and a plan for “Viksit Bharat” by 2047. The market is concerned about possible changes in stocks’ capital gains tax. According to JM Financial, no tax adjustments would benefit the Indian stock market. JM Financial suggests stocks like Mahindra & Mahindra Ltd., Hero MotoCorp Ltd., ITC Ltd., and others as top picks before the Budget. Additionally, other recommended stocks are Sanghvi Movers Ltd., VA Tech Wabag Ltd., DLF Ltd., PFC, and more.
According to the bank, any tax decrease or increase in the tax-free limit under Section 80C will boost income. This is good for FMCG companies like Dabur India, HUL, Godrej Consumer, and Nestle India. If tobacco products face higher taxes. The utility market hopes for better incentives for renewable energy with a 500 GW target by 2030. JM Financial suggests more support for solar energy, wind farms, and battery storage will benefit companies like NTPC, Tata Power, JSW Energy, Adani Power, and CESC. Ancillary industries like Sterling & Wilson, Inox Wind, and Suzlon Energy would also gain. Focus on T&D spending will benefit Power Grid.
Increased funding for defense is good for companies like HAL and BEL. RVNL, Titagarh Rail, IRCON, BEML could benefit from railway investments. KNR Constructions, PNC Infrastructure, RITES, Ahluwalia Contracts may gain from infrastructure spending. Water projects like Jal Jeevan Mission could benefit NCC, VA Tech Wabag, others. A rise in PMAY budget is expected to build more homes. Ambuja Cements, Dalmia Bharat, UltraTech Cement might benefit too. LIC may gain from life insurance tax deduction cap increase.
Suzlon Share Price Target 2024, 2025 To 2035 Forecast
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ITC Share Price Target 2024, 2025 To 2035 Forecast
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Tata Power Share Price Target 2024 To 2030 Forecast
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RVNL Share Price Target 2024, 2025 To 2035 Forecast
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IRCON International Share Price Target 2024, 2025 To 2035 Forecast
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RITES Share Price Target 2024, 2025 To 2030 Forecast
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PFC Share Price Target 2024, 2025 To 2035 Forecast
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