Financial experts encourage long-term investors to go through the current market dip as a great opportunity for strategic buying, even after negative reactions to the Union Budget 2024.
The Financial plan is intended to animate the monetary development and expects to position India as the third largest economy in the world.
Manufacturing, infrastructure, defense, etc. are portrayed as a channel for medium-to-long-term investments.
The Budget, according to SS Wealth Street founder Sugandha Sachdeva, is growth-oriented and has a clear goal of making India the third-largest economy.
StoxBox’s Head of Research, Manish Chowdhury, draws attention to the Budget’s delicate balance between fiscal prudence and welfare initiatives, particularly in places like Bihar and Andhra Pradesh. The government’s efforts are to create jobs, improve the infrastructure, boost the manufacturing process, promote renewable energy and raise disposable income, especially in the rural areas. According to Chowdhury, these measures would make the manufacturing, infrastructure, defense, and power industries an attractive option for medium-to-long-term investors.
From an interim estimate of 5.1 percent, the fiscal deficit target for FY25 has been lowered to 4.9 percent of GDP, with further commitment to bring it down to 4.5 percent by FY26. In the long run, Sachdeva sees this fiscal discipline as beneficial to the economy.
Sachdeva has recognized a few stocks that she accepts are a great purchase while following the Budget plan 2024. SBI Card, for example, is suggested for purchase at ₹680-₹685 with an objective of ₹840 and a stop deficiency of ₹595. Another recommendation is Oberoi Realty, which has a buy price of ₹1570-₹1580, a target of ₹2050, and a stop loss of ₹1280. With a stop loss of ₹520 and a target of ₹880, RITES is recommended at ₹650-₹660. KPIT Tech should buy between ₹.1695 and ₹2080 with a stop loss of ₹.1500 and a target price of ₹2080. HBL Power is recommended between ₹540 and ₹.550, with a stop loss of ₹430 and a target of ₹765. Rajesh Commodities is proposed to buy at ₹310-₹312, focusing on ₹435, with a stop deficiency of ₹225. Sachdeva also suggests Tata Consumer, NCC, and Ramco Cement as safe investments.
These recommendations are made with an eye toward growth over the long term. Investors are encouraged to incorporate these stocks into their portfolios to reap the benefits of India’s anticipated economic expansion.