Look beyond capital gains tax! Brokerages scream buy on over 50 ideas post Budget 2024

Given how the Modi 3.0 government managed to eschewed populism once again and continued on the path of fiscal consolidation and capex push in the Union Budget, investors are looking beyond the increased capital gains tax burden imposed by Nirmala Sitharaman.

Analysts believe this Budget sets the stage for the next five years of the government with structural growth in focus and would be positive for consumption and infrastructure-oriented sectors.

A good Budget is in the price and unlikely to move the needle significantly but brokerages see stock specific opportunities in many sectors.


"We believe this budget will benefit industries such as agro-chemicals, automobiles, capital goods, cement, infrastructure, FMCG, metals, retail and renewable energy. The IT sector might grapple with implications of changes to the share-buyback policy, whereas the financial sector largely remains neutral. Further, we believe the change in the indexation norm for

real estate may not impact end-user demand," Anand Rathi said.

Here are top Budget picks from brokerages:

Anand Rathi

Key picks are Astral, Crompton Greaves Consumer, Dabur, Finolex Cables, Hero MotoCorp, HG Infra, HUL, ICICI Bank, M&M, NCC, Neogen Chemicals, PNC Infra, SBI, Sagar Cements, Senco, Siemens, Shilchar Technologies, Spandana Sphoorty, Sumitomo Chemicals, Suzlon and Ultratech.

Motilal Oswal

Largecaps: ICICI Bank, SBI, L&T, M&M, HCL Tech, Coal India, Titan, Mankind Pharma, Hindustan Unilever and Hindalco.

Midcaps and Smallcaps: Indian Hotels, Ashok Leyland, Godrej Prop., KEI Inds., PNB Housing, Cello World, Kalyan Jewelers, Persistent, Angel One, and Metro Brands.

Prabhudas Lilladher

M&M, Ashok Leyland, L&T, ITC, Titan, RR Kabel, Aadhar Housing, Aavas, Home First, Canfin and LIC Housing Finance, Ultratech, Ambuja, Shree Cement, Ramco, Jindal Stainless, JSPL, ONGC, Oil India and Reliance Industries (RIL).

Axis Securities

Ultratech Cement, HUL, ITC, Hero Motocorp, NTPC, Inox Wind, Indian Hotels, GR Infra, KIMS, M&M (Rural Play), VA Tech Wabag (Sustainable Water theme play), NCC (Infa Play), Exide industries (Support towards Green Mobility play) and Gravita India (Recycling of critical Minerals play).

Sharekhan

Largecaps: TCS, Infosys, DLF, ITC, ICICI Bank, M&M, SBIN, L&T, Tata Motors, HUL, Dabur, Sun Pharma, Hero MotoCorp, NTPC, PowerGrid, UltraTech and Coal India

Midcaps: Kajaria Ceramics, JK Lakshmi Cement, Bharat Forge, HAL, BEL, Persistent System, Sundram Fasteners, Can Fin Homes, Varun Beverages and Zydus Wellness.

Smallcaps: Kirloskar Oil Engines, Radico, DEE Development, ABDL, Arvind Smartspaces, KEC, Garware Hitech, Lumax Auto Technologies, ISGEC and Emami.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)