Budget 2024: Investors continue to have high expectations for a budget that will boost the infrastructure industry. Industries that stand to gain include digital infrastructure, railroads, and road building. These are a few selections from Religious Broking within the infrastructure industry.
Budget 2024: Ajit Mishra, SVP-Research at Religare Broking, suggests that investors can engage in the infrastructure sector through cement stocks like Ultratech Cement and Nuvoco Vistas Corporation. The market leader Ultratech Cement will continue to gain from industry changes, and Nuvoco Vistas is renowned for its cutting-edge goods.
In addition, HCL Technologies and Bharti Airtel are both excellent choices in the field of digital infrastructure. The nation’s growing digital economy is expected to benefit both Bharti Airtel, a telecom behemoth, and HCL Technologies Ltd, which provide integrated products and services in engineering and research and development (R&D) services. Bharti Airtel holds a substantial market position in digital infrastructure.
Also Read | Union BudgetÂ
Mishra went on to say, “The long-term outlook for India’s infrastructure sector remains promising, even though much of the anticipated growth is factored into current stock prices following recent surges.” To take advantage of new opportunities, investors are urged to match their investing horizons appropriately.
A day before the Budget, the share price of UltraTech Cement was 1.7% higher on the NSE at ₹11,449.00. As of now, the price of UltraTech shares has increased by almost 9.5%. On Friday, UltraTech released its financial results. The company’s stated net profit of ₹1696.59 was unchanged. Despite UltraTech cement sales volume rising 6% year over year, cement prices have not increased. Strong demand is indicated by the volume growth, and we’ll keep an eye out for potential price increases after the monsoon.
On Monday, the share price of Nuvoco Vistas Corporation also saw a 1% increase in trade.
However, the share prices of Bharti Airtel and HCL Technologies were trading flat to down. The share price of Bharti Airtel has increased by 44% year to date, while the share price of HCL Technologies has increased by 9.6%.
(Disclaimer: The opinions and suggestions mentioned are from individual analysts, experts, and broking firms, not endorsed by Businessuncover. Investors should consult certified experts before deciding on investments.)
