Stocks to bet on post Budget

by khalid on 01/03/2010 · 0 comments

Finance Minister Pranab Mukherjee presented a fine balancing Budget on 26th Feb 2010. While a lower fiscal deficit in the financial year ahead, resulting in a lower government borrowing, soothed the stock market’s nerves, an overhauled personal tax structure provides relief to individual taxpayers. Not surprisingly, stock markets gave a rousing welcome to the Budget and rose immediately as the FM presented his speech.

Investment Advisor PN Vijay is of the view that finance minister sought to raise excise duty for sectors like cement, capital goods and autos, in a mild way — the 2% hike was less than the 4% some quarters were expecting.

Vijay Bhambwani of bsplindia.com is seeing a gain in stocks like Mahindra & Mahindra, Larsen & Toubro, IRB Infra and Tata Power as the financing incentives for real estate, infrastructure and agriculture continuing.

Another key announcement in the Budget was that the RBI would consider giving banking licences to non-banking financial companies (NBFCs). This makes NBFCs like Reliance capital, Bajaj Fin.Serv, Religare group etc. are good picks now. PSU Banks too are good to invest at the moment.

Investment Advisor SP Tulsian said the markets are poised to give good returns in four-six months and advised buying stocks like Maruti Suzuki, IFCI, GMR Infra and IDFC.

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