India’s annual finances will be unveiled on February 1, with expectations to reboot India’s economy. Here’s a guide to industries that may be most affected by the spending plan.
Rural India, where most of the nation’s 1.3 billion citizens live, has been a limelight during the pandemic. Stocks, including UPL Ltd., farm equipment makers, Mahindra & Mahindra Ltd. and consumer goods producers, Hindustan Unilever Ltd. and Godrej Consumer Products Ltd will prove beneficiary.
An industry that’s already been buoyed by a recent surge in sales, Automakers would expect to see more details of a $20 billion government program to attract manufacturers. Potential beneficiaries include Tata Motors Ltd. and Ashok Leyland Ltd.
Mergers and recapitalization bonds at state-controlled banks may be announced in the budget to contain risks, according to Citi analysts. Watch shares of IDBI Bank, PNB, Bank of Baroda and SBI.