Union Budget 2023: Stocks to watch out for as FM Nirmala Sitharaman presents budget

The Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament, LIVE at 11 a.m. on February 1. This year’s assessment has been eagerly awaited, as the forthcoming budget will be the last for a full year by the incumbent government, and projects a mood of confidence and optimism in the run up to the elections in 2024.

As the budget is announced, here are the stocks to watch out for.

• PSU Rail Cos: IRCTC, IRFC, RVNL, IRCON, RITES
• Large Cap Rail Plays: BEML, Siemens, L&T
• Dedicated Freight Corridor: Timken, CONCOR,
Gateway Distri
• Wagon Makers: Texmaco, Titagarh Wagons & Jupiter
Wagons
• Capex Plays: L&T, Siemens, Thermax, Triveni Engg, Timken
. Capex Plays: CG Power, Elgi Equipment, Cummins,
ABB,
• Green Hydrogen PLI: RIL, Adani Ent, NTPC, HPCL, IOC
• Renewable Energy Push: Inox Wind, Adani Green,
SW Solar
• Renewable Energy Push: NTPC, Tata Power, SJVN, NHPC
• Defence Push: BEL, BEML, Bharat Forge, L&T
• Defence Push: Astra Micro, Dynamatic Tech, Centum, Premier Explosives

The government's perspective has already been hinted at by Prime Minister Narendra Modi. On the eve of the Budget, he declared, "India's budget would not only aim to fulfil the hopes and dreams of the average man of India, but the beam of hope which the world is seeing should be seen more brightly."