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As the Union Budget 2024 approaches, analysts have identified key stocks across various sectors that are expected to benefit from upcoming policy changes and government initiatives. This article highlights the top stock recommendations from analysts, focusing on infrastructure, defence, and energy sectors.
Infrastructure Stocks
The infrastructure sector is set to receive a significant boost with the government’s focus on expediting the National Infrastructure Pipeline (NIP) project. Key stocks to watch include:
- Larsen & Toubro (L&T): India’s largest engineering and construction company, with a diversified portfolio and a strong presence in defence and renewable energy.
- IRB Infrastructure Developers: A leading road developer and operator, well-positioned to benefit from the government’s focus on enhancing road connectivity.
- KNR Constructions: A key player in the road and highway sector, with a robust order book and potential for new projects under Bharatmala Pariyojana.
Defence Stocks
The defence sector is expected to receive higher allocations to strengthen the country’s defence capabilities and reduce dependence on imports. Key stocks in focus include:
- Hindustan Aeronautics (HAL): India’s largest aerospace and defence company, with a strong order book and involvement in prestigious ISRO programs.
- Bharat Electronics (BEL): A leading defence electronics company, poised to benefit from rising demand for its products from the Indian Armed Forces and export markets.
- Bharat Forge: Known for its strong presence in the defence sector, with significant growth potential.
Energy Stocks
The energy sector is also expected to see substantial growth, driven by government incentives and initiatives. Key stocks to watch include:
- Adani Green Energy: A major player in the renewable energy sector, despite recent challenges.
- Gujarat Gas: Positioned to benefit from the increasing demand for natural gas.
- Tata Power: With a strong focus on renewable energy, Tata Power is well-positioned for future growth.
Conclusion
These stocks are recommended by analysts based on their performance, prospects, and growth potential. Investors should keep an eye on these companies as the Union Budget 2024 unfolds, as they are likely to benefit from the government’s growth-oriented and reform-driven policies.
