Stocks that may benefit from Budget 2022 announcements, as per Religare Broking

 Brokerage house Religare Broking expects the government to continue its focus on reviving economic growth by increasing spending on key sectors in Budget 2022.

It believes the underlying theme would be similar to last year wherein the focus would be on increasing capital expenditure in key social sectors like infrastructure, housing and healthcare space.

Buzzing Stocks after Budget 2022

Announcements in agriculture would help in boosting rural growth, increasing farmers income and help job creation.

Therefore, companies like PI, Coromandel, Rallis and Godrej Agrovet, etc would benefit from any such measures if announced, as per the brokerage. Push towards affordable housing will be positive for housing finance companies including HDFC, LIC Housing Finance, Can Fin Homes.

Meanwhile, an increase allocation and widening of production linked incentive schemes (PLIs) will likely boost order book of capital goods players which could be positive for L&T, Thermax, Siemens India, Polycab India, KEI Industries, ABB India.

“More spending on infrastructure will help boost growth for cement companies. Positive for all cement companies such as Ramco Cements, Ultratech, ACC, Ambuja, etc,” Religare added.

Further, any boost in domestic manufacturing for green energy and reduce dependence on imports which could positively impact companies like Tata Power, Adani Green, etc.

From the stock market perspective, the recent correction is largely due to concerns over anticipation of faster than expected interest rate hikes due to high inflation.

The government’s focus on fiscal consolidation would be an important factor for market participants, it added.

“We also expect the government to begin its fiscal consolidation journey albeit at a gradual pace as it would not want to hamper the ongoing economic recovery.

We believe that the budget would be largely growth-driven but it would also lay the path for fiscal consolidation,” the note added.

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