ELECTIONS BUDGETS
Here's a two-pronged approach to navigate an ever-rising stock market
Despite the Modi regime's progressive policies ensuring macro-stability, the 2019 super-rich surcharge raises doubts, especially in view of the poor election show of the BJP. Markets however defied election outcome pullback expectations, hitting new highs. In such a scenario, investors should monitor policy changes and consider phased investments.
After setback in Lok Sabha polls in Maharashtra, Maha Yuti govt presents 'freebie budget'
Maharashtra's Maha Yuti government has announced several freebies in its last budget before assembly polls, despite Prime Minister Narendra Modi's call to eliminate the revdi culture. The budget includes three free cylinders a year for BPL families, free electricity for farmers, and ₹1,500 per month for women aged 21-60. The state has an expected revenue deficit of ₹20,151 crore and a fiscal deficit of ₹1,10,355 crore.
Maharashtra budget: Subsidy for milk producers to continue, nod for 18 medical colleges
Finance Minister Ajit Pawar presented Maharashtra's budget for 2024-25, highlighting key initiatives including the extension of a Rs 5 per litre subsidy for milk producers and plans to establish 18 new medical colleges. This budget, the last before assembly elections, also focuses on agricultural infrastructure, women's empowerment, and healthcare expansion across the state.
Wait for earnings and Budget to identify attractive sectors for investment: Deepak Shenoy
These companies are quite cyclical, moving between downturns and upturns. Recently, there has been an upturn for Muthoot and Manappuram, partly because IIFL, a major player in the gold financing space, faced some RBI action leading to a slowdown in its gold lending portfolio.
Govt’s infrastructure focus makes sector funds a compelling choice
With the National Democratic Alliance (NDA) returning to administration for a third consecutive term and the 2024 Union Budget round the corner, analysts expect the government to retain focus on the infra sector with a sustained budgetary allocation.
Former deputy election commission advocates separate budget and secretariat for ECI to increase autonomy
Former deputy election commissioner Vinod Zutshi emphasized the need for the Election Commission of India (ECI) to have a separate budget instead of grants from the Consolidated Fund of India. He highlighted the Commission's long-standing demands for autonomy, including an independent secretariat. Despite recent controversies, Zutshi acknowledged the increased independence of the electoral body today. He also addressed the transparency concerns in the appointment of Commissioners and the credibility of the election process in India.
ETMarkets Smart Talk: Never thought retail investors will become the new Glenn Maxwell of markets on Election Result Day: Nilesh Shah
Undoubtedly, markets will have their ups and downs. There will be bull market. There will be a bear market. But overall, being an investor, you will make money in India.
Will market get into consolidation mode ahead of Budget? Mahantesh Sabarad answers
I think EPC companies can potentially do well because it is all about the order book that they will start getting in. With the new government formation in, you will see infrastructure activity particularly road building kind of activities start picking up. Alongside, you also have a host of metro projects coming up for completion which requires that last bit of push when it comes to construction activities.
Harsh Gupta Madhusudan on key indicators to monitor ahead of Budget
I think that there should be some more not exactly freebies or welfare, but something more attuned towards consumption and we were already seeing that even in the financial markets. I gave you the number of top line, the most obvious data point to check directly FMCG sales.
Why investors are favouring FMCG stocks after elections
One key reason behind FMCG becoming a preferred choice in today’s time was this year’s general election. It was the most expensive affair with an estimated campaign cost incurred by political parties reaching a record Rs 1.35 lakh crore. A significant share of this pie moves into the pockets of rural India.
Budget to indicate policy priorities of coalition govt, says Moody's
Moody's Analytics highlighted that the upcoming Union Budget will set policy priorities for the coalition government, shaping the next five years' growth trajectory.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
Startups seek advice on IPO timing in choppy markets
Multiple new-age companies looking to go public are seeking counsel on their next moves in response to the stock market volatility following the general election results on Tuesday. These companies are looking for advice on the timing of their public listings even as they remain confident about India's macroeconomic prospects, founders, investors and investment bankers told us.
Rural demand theme blooms
Investor money is shifting to defensive shares like FMCG, healthcare, and information technology following the lower-than-anticipated seats for the BJP in recent elections. Marico, Godrej Consumer, Nestle India, ITC, Britannia, HUL, and Dabur saw significant gains. The Nifty and NSE FMCG Index also rose.
Will an NDA-led Modi 3.0 see Centre more open to welfare measures?
Prime Minister Narendra Modi and the Bharatiya Janata Party (BJP) have consistently opposed the distribution of freebies, as seen in their manifesto "Modi ki Guarantee," which avoided commitments like guaranteed pensions for government employees or reinstating rail concessions for seniors. In contrast, the Congress party's promises included substantial financial incentives like Rs 1 lakh annual aid for women and waivers on education and farm loans.
Bond vigilantes worry as weak Modi government win fans fiscal populism fear
Prime Minister Narendra Modi's smaller-than-expected poll victory is causing concerns among bond investors about increased populism. The election results shocked traders, leading to a selloff in Indian assets.
Electoral shock dashes hopes of rate cut
Food inflation challenges RBI, impacting rate cuts. Elections, populist spending, and fiscal landscape influence rate cut decisions.
Result day today, keep your shirt on
Stockbrokers advise clients to keep extra margins for trading on election results day amidst rising volatility index, exceeding exchange limits, and cautioning investors to heed advice. Markets react to GDP data and upcoming central bank review. Incoming government's monetary and fiscal policies will impact market. Budget and policy continuity influence systematic investment.
India utilised 99.9% of its capex target in FY24
India has used Rs 9,48,506 crore in its capital expenditure in FY24, up from the revised estimate of Rs 9,49,555 crore. The government plans to narrow its fiscal deficit to 5.1% in FY25 from 5.8% in FY24. Private capex is expected to be an important driver of growth and job creation. India's GDP growth was 7.8% in Q4 of FY24, and the overall growth rate is now estimated to be 8.2%.
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