Finance Minister Nirmala Sitharaman has submitted to Parliament, a request for permission to spend an extra ₹58,000 crore in cash in FY24 through the Supplementary Demands for Grants.
According to the breakdown of the net cash outgo, the government has requested ₹7,020 crores for food subsidies and ₹13,350 crores for fertilizer subsidies in cash for FY24. The government’s estimated expenditure for this year’s food subsidy is ₹2.04 lakh crore, while the fertilizer subsidy is estimated to be around ₹1.88 lakh crore.
The remaining ₹9,200 crore for the LPG subsidy, however, will be covered by a “technical supplementary,” which could be higher receipts or government savings.
The overall additional gross expenditure, of which MNREGA also receives a technical allocation of ₹14,500 crore, has been estimated at ₹1.29 lakh crore, while the net cash outgo has been put at ₹58,000 crore.
Here are the major stocks that gained after the news broke out.
Fertilizers & Chemicals Travancore Ltd
With a market capitalization of Rs 50,766 Crores. Fertilizers & Chemicals Travancore Ltd, On Thursday, The shares closed at Rs 785 a share, an increase of 10 percent in the last two days.
The stock gave a 138 percent return in six months and a 380 percent return in a year. If an investor invests Rs 1 lakh in the company would be worth Rs 4.80 Lakhs in a year.
Looking into the company’s performance, ‘s revenue increased by 40 percent from Rs 4,425 Crore in FY 2021-22 to Rs 6,198 Crore in FY 2022-23. During the same period, net profit increased by 40 percent from Rs 346 crore to Rs 613 crore.
Madras Fertilizers Ltd
With a market capitalization of Rs 1,614 Crores. Madras Fertilizers Ltd, On Thursday, The shares closed at Rs 100 a share, an increase of 11 percent in the last two days.
The stock gave a 38.76 percent return in six months and a 56.27 percent return in a year.
Looking into the company’s performance, ‘s revenue increased by 49 percent from Rs 2302 Crore in FY 2021-22 to Rs 3,447 Crore in FY 2022-23. During the same period, net profit increased by 14.19 percent from Rs 162 crore to Rs 185 crore.
Madhya Bharat Agro Products Ltd
With a market capitalization of Rs 2,493 Crores. Madhya Bharat Agro Products Ltd, On Thursday, The shares closed at Rs 284 a share, an increase of 5 percent from the previous close price. The stock gave a 13.46 percent return in a year.
Looking into the company’s performance, ‘s revenue increased by 100 percent from Rs 491 Crore in FY 2021-22 to Rs 981 Crore in FY 2022-23. During the same period, net profit increased by 117 percent from Rs 57 crore to Rs 124 crore.
National Fertilizer Ltd
With a market capitalization of Rs 3,824 Crores. National Fertilizer Ltd, On Thursday, The shares closed at Rs 77.9 a share, an increase of 6.94 percent in the last two days.
The stock gave a 9.11 percent return in six months and a 28.57 percent return in a year.
Looking into the company’s performance, ‘s revenue increased by 86 percent from Rs 15,857 Crore in FY 2021-22 to Rs 29,617 Crore in FY 2022-23. During the same period, net profit increased by 582 percent from a loss of Rs 95 crore to a profit of Rs 458 crore.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
