The full-year union budget announcement for FY24-25 is set for July 23rd, a significant event for the markets. Expectations are high for a budget focused on growth and reforms. Historically, the Union Budget has a substantial impact on the stock market, influencing sectors based on government policies and financial strategies.
JPMorgan expects India’s government to stick to its prudent fiscal plan in Budget 2024, with the deficit target seen slightly lower at 5% of GDP for the current fiscal year. The government is expected to bring the deficit down to below 4.5% for fiscal year 2026.
JPMorgan also anticipates that the Budget will focus on the government’s road map for ‘Viksit Bharat’ (developed nation) by 2047 and spell out the medium-term plan for fiscal consolidation. The Budget is expected to provide continuity on capex expenditure and targeted social sector spending to improve access to physical, social and digital infrastructure.
Here are the stocks recommended by JP Morgan to consider for the 2024-25 budget:
Financial sector
ICICI Bank Ltd
On Friday, ICICI Bank Ltd shares were quoted at ₹1,248, down 0.22% from the previous close. The company has a market capitalization of ₹8,78,004 crores.
Kotak Mahindra Bank Ltd
On Friday, Kotak Mahindra Bank Ltd shares were quoted at ₹1,814, down 0.67% from the previous close. The company has a market capitalization of ₹3,60,714 crores.
State Bank of India
On Friday, State Bank of India shares were quoted at ₹887, down 0.69% from the previous close. The company has a market capitalization of ₹7,91,925 crores.
Bank of Baroda
On Friday, Bank of Baroda shares were priced at ₹253, reflecting a 0.96% decline from the previous close. The company has a market capitalization of ₹1,30,836 crores.
LIC Housing Finance Ltd
On Friday, LIC Housing Finance Ltd shares were quoted at ₹785, down 1.29% from the previous close. The company has a market capitalization of ₹43,205 crores.
Shriram Finance Ltd
On Friday, shares of Shriram Finance Ltd were priced at ₹2,826, reflecting a 1.43% decline from the previous close. The company’s market capitalization stands at ₹1,06,244 crores
HDFC Asset Management Company Ltd
On Friday,HDFC Asset Management Company Ltd shares were quoted at ₹4,056, down 2.55% from the previous close. The company has a market capitalization of ₹86,638 crores.
ICICI Lombard General Insurance Company Ltd
On Friday, ICICI Lombard General Insurance Company Ltd shares were quoted at ₹1,891, down 1.02 % from the previous close. The company has a market capitalization of ₹93,276 crores.
ICICI Prudential Life Insurance Company Ltd
On Friday, ICICI Prudential Life Insurance Company Ltd shares were quoted at ₹641, down 2.06% from the previous close. The company has a market capitalization of ₹92,470 crores.
Automobile sector
Bajaj Auto Ltd
On Friday, Bajaj Auto Ltd shares were quoted at ₹9,511, down 1.20% from the previous close. The company has a market capitalization of ₹2,65,515 crores.
Mahindra & Mahindra Ltd
On Friday, shares of Mahindra & Mahindra Ltd were quoted at ₹2,766, reflecting a 1.53% decline from the previous close. The company’s market capitalization stands at ₹3,45,229 crores
Ashok Leyland Ltd
On Friday, Ashok Leyland Ltd shares were quoted at ₹227, down 0.45% from the previous close. The company has a market capitalization of ₹66,745 crores.
Samvardhana Motherson International Ltd
On Friday, shares of Samvardhana Motherson International Ltd were priced at ₹193, reflecting a 5.68% decrease from the previous close. The company’s market capitalization stands at ₹1,30,582 crores.
Real estate sector
Godrej Properties Ltd
On Friday, Godrej Properties Ltd shares were quoted at ₹3,261, down 3.04% from the previous close. The company has a market capitalization of ₹90,662 crores.
Prestige Estates Projects Ltd
On Friday, shares of Prestige Estates Projects Ltd were priced at ₹1,734, marking a 0.79% decline from the previous close. The company’s market capitalization stands at ₹69,862 crores
Healthcare sector:
Mankind Pharma Ltd
On Friday, Mankind Pharma Ltd shares were quoted at ₹2,138, down 0.06% from the previous close. The company has a market capitalization of ₹85,636 crores.
Abbott India Ltd
On Friday, Abbott India Ltd shares were priced at ₹28,205, reflecting a 2.05% decline from the previous close, with the company’s market capitalization standing at ₹59,936 crores.
Sun Pharmaceuticals Industries Ltd
On Friday,Sun Pharmaceuticals Industries Ltd shares were quoted at ₹1,580, down 0.92% from the previous close. The company has a market capitalization of ₹3,79,011 crores.
Max Healthcare Institute Ltd
On Friday,Max Healthcare Institute Ltd shares were quoted at ₹900, down 3.6% from the previous close. The company has a market capitalization of ₹87,521 crores.
FMCG Sector:
Hindustan Unilever Ltd
On Friday,Hindustan Unilever Ltd shares were quoted at ₹2,729, down 0.34% from the previous close. The company has a market capitalization of ₹6,41,250 crores.
Nestle India Ltd
On Friday, Nestle India Ltd shares were quoted at ₹2,607, down 0.76% from the previous close. The company has a market capitalization of ₹2,51,356 crores.
Colgate-Palmolive (India) Ltd
On Friday, Colgate-Palmolive (India) Ltd shares were quoted at 3,107, down 0.46% from the previous close. The company has a market capitalization of ₹84,506 crores.
Written by Omkar Chitnis
Disclaimer
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