Budget 2024: D-Street experts recommend L&T, Wipro, HAL, among 18 top picks ahead of Modi 3.0's first Union Budget

Union Budget 2024: The Indian marketplace is experiencing relentless bullish momentum characterized by a bid of grounds highs, predominant milestone achievements, and the constitution of caller benchmarks. On Thursday, June 27, the benchmark Nifty breached the 24,000 people for the archetypal time. Continuing the rally, the Nifty reached 24,100 points, hitting a caller grounds precocious of 24,174 points connected Friday, June 28. This awesome emergence reflects beardown capitalist assurance and optimism, driven by affirmative economical indicators, anticipated argumentation stability, and accrued overseas concern inflows.

As the Union Budget 2024-2025 approaches, investors are keen to capitalise connected sector-specific opportunities. Leading fiscal analysts and advisors person shared their recommendations for stocks to consider:

Jeni Rita - Equity probe expert astatine Inventure Growth & Securities

Rita highlights the value of infrastructure, defence, and railways arsenic cardinal sectors that are apt to payment from the upcoming budget:

Target: Rs. 4,300

Potential Upside: 19%

Rationale: With a grounds allocation of Rs. 11,11,111 crore for infrastructure, L&T stands to payment significantly. The institution aims to make radical gross of Rs. 2.7 lakh crore by FY 2025-2026, expecting a 10% maturation successful bid inflow and an EBITDA borderline of astir 8.25%.

Target: ₹5,819

Potential Upside: 10%

Rationale: As a large subordinate successful India’s defence sector, HAL is acceptable to payment from the Rs. 6.22 lakh crore defence budget. The institution has a robust bid publication of Rs. 94,000 crore, providing beardown bid visibility.

Target: ₹2,030

Potential Upside: 15%

Rationale: Leading successful manufacturing freight and rider rolling stock, Titagarh volition summation from the government's Rs. 2.55 lakh crore allocation for railway infrastructure and initiatives similar the PM Gati Shakti.

Potential Upside: 30% successful 3 months

Rationale: HUDCO’s banal shows beardown method momentum, trading supra large moving averages with fantabulous nett margins and accordant nett growth. The upcoming fund is expected to supply cheaper funds for lodging finance.

Potential Upside: 25%

Rationale: IREDA is positioned for a breakout supra Rs. 200, supported by beardown fundamentals and maturation successful renewable energy, which is apt to person favourable allocations successful the budget.

Stop-Loss: ₹285

Target: ₹320

Rationale: BHEL shows a beardown enactment portion with a consolidation breakout backed by accrued trading volumes, indicating the commencement of an uptrend.

Stop-Loss: ₹480

Target: ₹560

Rationale: The banal has breached retired from a consolidation signifier with higher trading volumes during uptrends, signalling a bullish outlook.

Stop-Loss: ₹645

Target: ₹760

Rationale: Praj Industries is forming a bullish pennant signifier connected the regular chart, suggesting a continuation of the upward trend.

Stop-Loss: ₹283

Target: ₹340

Rationale: BEL is maintaining its higher highs signifier and trading supra cardinal moving averages, indicating a imaginable uptrend.

Stop-Loss: ₹158

Target: ₹185-190

Rationale: Tata Steel remains supra the important 21-week EMA, with constricted downside and important enactment levels suggesting an accidental for caller agelong positions.

Rationale: As the largest shaper of structural alloy tubes successful India, APL Apollo is acceptable to payment from the government's absorption connected infrastructure, construction, and existent property sectors.

Rationale: With divers businesses successful sweetener and allied products and engineering, Triveni is well-positioned to payment from the rising request for ethanol and the government's propulsion for ethanol blending targets.

Rationale: Ador Welding is thriving with beardown request successful infrastructure, railways, and shipbuilding sectors. The institution is investing successful automation and expanding its marketplace presence.

Rationale: TCI, arsenic India’s largest integrated logistics work provider, is expected to payment from the displacement towards organized logistics players and continued enactment for infrastructure development.

Rationale: Godrej Agrovet shows awesome maturation imaginable with astute cost-cutting and caller enactment driving improvements crossed each segments. The banal is undervalued, making it an charismatic concern opportunity.

Stop-Loss: Rs. 790

Rationale: After a short-term correction, SBI shows a affirmative medium-term texture, with a higher bottommost enactment connected play charts supporting a further uptrend.

Rationale: The banal has breached retired of a consolidation signifier with a surge successful volume, indicating beardown buying involvement and a resumption of an uptrend.

Rationale: On a play scale, Praj Industries has breached retired of a rounding bottommost pattern, sustaining supra it with accrued volume, signaling beardown buying interest.

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts, and brokerage firms, not Mint. We counsel investors to consult certified experts earlier making immoderate concern decisions.