The upcoming budget 2024 is highly anticipated as all the sector growth depends on the allocation of expenditure. Short investors looking for strong returns are confused which stocks to buy ahead of budget 2024. Here are the top 5 picks by market experts for significant gain.
Stocks to Buy Ahead of Budget 2024
According to multiple reports, the Budget for FY 24-25 is expected to be announced on July 23 by finance minister Nirmala Sitaram. Government planning to take more steps to develop these sectors. Companies working in these sectors will benefit from the rising budget allocation. Let’s know which company stocks will surge before the budget.
1) Railway Stocks
Like every year the railway sector will be in focus as the government aims to enhance Railway Infrastructure and services. Market experts are highly bullish on these stocks. A huge railway budget allocation is expected. Railway Infra stocks Like RVNL, Railtel, IRCON can give strong returns in the short term.
Also Read: IRFC Share Price Target 2024, Should You Buy this Railway Stock
2) FMCG Stocks
It is expected that the minimum support price (MSP) is expected to increase as PM Narendra Modi tries to increase the price of crops. In the last cabinet meeting PM approved the increase of MSP on June 19.
Farmers will get more value for their agriculture products. If the kharif crops price increases, FMCG sector companies will also benefit from the increasing demand in rural areas. So FMCG stocks like Emami, Hindustan Unilever, ITC, Dabur to be in focus.
3) Bank Stocks
As the credit cost is increasing every year. It is expected that banking stocks may witness good growth before the budget.
Private bank stocks like HDFC, J&K bank, IDBI Bank, Bandhan Bank, IDFC first bank can give good returns. Apart from the above stocks, experts advised to keep an eye on PSU bank stocks like South Indian Bank, Maharashtra Bank, Indian Overseas Banks etc.
4) Agriculture Stocks
The government of India will likely step forward for the development of agriculture and farming due to increasing population. Agricultural stocks will see amazing growth in the coming days. Coromandel International, PI industries, Madras Fertilizers are the top picks by experts.
5) Defence Stocks
Indian Defence Stocks are rising like raising bull currently after the Lok Sabha Election Results. All the PSU stocks have given solid returns Within one month. HAL, BEL, Mazagon Dock,. Cochin Shipyard, Garden Research Shipbuilders etc are highly likely give strong returns before budget.
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