Active Stocks
Tue Jun 18 2024 12:23:03
  1. Tata Steel share price
  2. 182.05 -0.55%
  1. State Bank Of India share price
  2. 849.95 1.16%
  1. Power Grid Corporation Of India share price
  2. 329.45 2.47%
  1. HDFC Bank share price
  2. 1,603.00 0.35%
  1. Wipro share price
  2. 491.20 2.90%
Business News/ Markets / Stock Markets/  Budget 2024: Havells, Bluestar, V-Guard, Bajaj Electric share price rise on continued focus on housing, infrastructure
BackBack

Budget 2024: Havells, Bluestar, V-Guard, Bajaj Electric share price rise on continued focus on housing, infrastructure

Budget 2024: Havells, Bajaj Electrical, Bluestar, V-Guard, Dixon share price rise on governments continued focus on housing, infrastructure. Analysts say that all cable and wire, lighting and switch manufacturers could benefit on housing focus and infra push, cooling products should also benefit.

Budget 2024: Havells share prices , others rise as continued housing Infrastructure push to supports demandPremium
Budget 2024: Havells share prices , others rise as continued housing Infrastructure push to supports demand

Budget 2024: Havells, Bajaj Electrical, Bluestar, V-Guard, Dixon share price rose on Thursday. The governments continued focus on housing    as highlighted in the budget should benefit all manufacturers in the . Analysts say that all cable and wire, lighting and switch gear manufacturers could benefit on housing focus by the government

Finance Minister Nirmala Sitharaman while presenting the interim budget had highlighted that the government will be launch a new housing scheme for the middle class.  This will help those living in rented houses. Other standout feature of the budget speech was the incremental target by the government to give 2 crore more houses under Pradhan Mantri Awas Yojna (Gramin) in 5 years, as three and a half crore homes are already nearing completion.

Also Read-Budget 2024: Defence stocks trade lacklustre as investors not enthused

All switchgear, lighting, cable and wire manufacturers thereby are likely to benefit. Major manufacturers in Cable and Wires apart from Havells include, Polycab India, Finolex Cables, RR Kabel among others should all benefit. Also others as Crompton Greaves consumer electricals along with Havells, Bajaj electricals are present in the lighting and fans space, while others as V-Guard, Polycab have entered the segment too. Havells into switchgear manufacturing will benefit here too.

The further benefit should accrue from the infrastructure push that is to continues. The Finance Minister announced increasing infrastructure outlay by 11.1% to 11.11 Lakh crore, which is 3.4% of the GDP. Most of the Cable & wire and other electricals manufacturers should benefit

Manufacturers in the cooling products segment as Blue Star and even others as Dixon technologies should see benefits from infrastructure and railways expenditure. For railways the 40,000 bogies conversion to Vande Bharat standard to improve safety and convenience for passengers, is positive for all electricals and cooling product demand.

Also Read- Budget 2024: Solar stocks Suzlon Energy, Tata Power, others shine as FM proposes rooftop solar aid for 1 crore homes

Even other cooling product manufacturers as Voltas, Hitachi and others could reap benefits. 

However upside for stock prices of Air-conditioner manufacturers will hinge on arriving summer season sales. The peak season sales are crucial to drive their FY25 earnings outlook, said analysts.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

 

\

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 01 Feb 2024, 03:17 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started