Budget 2024: After Budget, market guru Anil Singhvi reveals his favourite sectors; keep an eye on these stocks
Interim Budget 2024: After Finance Minister Nirmala Sitharaman presented the much-awaited Interim Budget 2024 on Thursday, Zee Business managing editor and market guru Anil Singhvi told about his favourite sectors. Know which stocks you need to keep an eye on.
Interim Budget 2024: Finance Minister Nirmala Sitharaman on Thursday presented the Interim Budget 2024 for the financial year 2024-25.
This is the last budget of the NDA government, led by Prime Minister Narendra Modi, before 2024 Lok Sabha elections.
After the interim budget, Zee Business managing editor and market guru Anil Singhvi answered the questions of the audience in Zee Business' YouTube Live.
In this live session, Anil Singhvi revealed the four sectors of his choice. You can keep an eye on the stocks of these sectors in the near future.
Interim Budget 2024: Anil Singhvi bullish on defence sector
In response to a question from the audience, market guru Anil Singhvi was highly optimistic about the defence sector and said that the recent rise in defence stocks is just the beginning.
He said that defence sector stocks can shine since the government had decided to buy 70 to 80 per cent of defense equipment from India only.
The government's focus is on self-reliant India, hence the order books of most defence companies have been booked for seven to 10 years.
Defence shares will remain bullish in the coming year. The reason for this is the Ukraine-Russia war, the Israel-Hamas war and the period of unrest going on in many countries.
Interim Budget 2024: What is the story of Defense 2.0?
Anil Singhvi further says, 'Amidst war and uncertainties, every country wants to have some weapons. But, if you go to buy weapons, prices of weapons from America and Italy are very high. Our companies will make it for 50 per cent less than that, and even with that, they will earn huge profits. Defense 2.0: This will be the story of India, it will be bigger than Defense 1.0. Initial signs of this are emerging. Our companies are making submarines and fighter jets for many countries. Defence is a story of long term returns.
Interim Budget 2024: Hold railway stocks
Market guru Anil Singhvi said that public sector banks will also benefit from the interim budget.
As the government has given the roadmap for fiscal discipline, there has been an increase in capex, this will give banks the opportunity to give loans.
Apart from this, the government's focus is on affordable housing. Hudco has seen a rise.
For railway stocks, Anil Singhvi said that the government has announced a capex of Rs 11.11 lakh crore.
This expenditure will be on defence, railways and infrastructure.
Hold railway stocks according to time.
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