As Finance Minister Sitharaman presents the Budget for the upcoming financial year. Let's look at some stocks and sectors directly impacted by some of the announcements.
IRCTC
The stock rose over 3.5 percent before paring some gains after Finance Minister Nirmala Sitharaman announced 400 new-generation Vande Bharat trains in order to boost transportation and logistics. These trains will be manufactured in the next 3 years, she added.
Infra stocks
Infra stocks jumped after the FM announced a sharp increase in public investment & capital expenditure in the Budget. 'Gati Shakti' master plan for expressways to be formulated this FY which will expand highways by 25,000 kms in FY23, Sitharaman announced. stocks like PNC Infra, IRB, Jaypee Infra rose over 3 percent.
Realty stocks
Nifty Realty was trading over a percent higher as the FM announced an allotment of ₹48,000 crore to housing projects. 80 lakh houses to be built under the PM Awaz Yogna, she added. Oberoi Realty, Brigade, Sobha, DLF, Sunteck rose between 1-3 percent.
Fertilizer stocks
Fertilizer stocks were trading in the green as FM announced chemical-free natural farming will be promoted throughout the country. FY22 farm procurement value to be ₹2.37 lakh crore, she noted. Chambal Fertilizer, Madras Fertilizer, RCF rose over a percent each.
Logistic stocks
Logistic stocks rose after the FM announced 100 Gatishakti Cargo terminals will be developed in the next 3 years. Allcargo Logistics, Gati, Snowman Logistics rose between 2-5 percent post the announcement.'
Bank stocks
Scheduled commercial banks to set up 75 digital banking units in 75 districts, FM stated in her budget speech. Banking stocks rose with IndusInd Bank, ICICI Bank, Axis Bank, HDFC Bank up between 1.5-4 percent.
Solar energy stocks
solar energy stocks rose as FM announced an additional allocation of ₹19,500 crore for PLI in solar PV module manufacturing. Websol Energy rose 5 percent while Surana Solar and Sterling and Wilson Renewable Energy gained 3 percent.
Insurance stocks
Insurance stocks were also lifted as FM stated that IRDA has given permission to issue surety bonds by insurance companies. GIC, HDFC Life Insurance, ICIC Lombard were up around a percent each.