25 stocks that brokerages are betting on to play the event
The Interim Budget would provide an opportunity for the government to outline its medium-term economic priorities, specifically with regards to improving farm/rural incomes. However, for retail, there may not be anything to cheer but stock-specific opportunities will keep D-Street busy. Amid growing expectations of populist Budget announcements, especially for ‘farmers and individuals’ coupled with apprehension on expected revenue shortfall (especially GST), there is a growing risk that the government might resort to the path of populism over fiscal discipline during Interim Budget, fear experts.
Most experts feel that 2019 is likely to be a significant game-changer for Indian politics as biggest national parties — BJP and Congress, do not seem to be even close to forming a government easily. The probability of a hung Parliament with weak alliances and the third front led government is rising with each passing day. The brokerage firm expects a big thrust on agri/rural in this year’s Interim Budget. We expect some action in the consumer-oriented stocks. We are also bullish on infrastructure stocks, like L&T, PNC Infra, and Shree Cement to benefit if populist measures are not as bad being feared by the market while outlook improves due to return of government capex,Any move on relaxing corporate tax rate, Long Term capital gains or DDT can be positive for whole markets. Any measure like farm package, tax relief or BPL pension will boost demand.
Domestic consumption stocks like ITC, HUL, Britannia, Dabur and 2Wheeler companies (TVS Motors) can benefit from that. Select Prefer Private Banks and consumer finance companies like HDFC Bank, ICICI Bank and Bajaj finance will gain from rising consumer spends. Companies to play for farm package could be M&M, PI Inds and Coromendal International seem good bets in the Auto and Agri space.
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