‘Budget looks quite impressive with benefits given to farmers and middle class’

The announced tax rebate to people earning up to Rs 5 lakh will benefit nearly Rs 3 crore middle-class population and will give a boost to FMCG segment as a whole

Stocks like Hero MotoCorp, which is the market leader in two-wheeler space, and other stocks will benefit and the sales will improve. It will, in turn, be showcased in the GDP of the country, said Ritesh Ashar, CSO, KIFS Trade Capital in an interview with Moneycontrol’s Kshitij Anand.

Edited excerpts:

Q. What is your first reaction on the Interim Budget?

A. The interim Budget looks quite impressive as it has covered almost all aspects in terms of the economic growth story, benefits to the farmers who are the backbone of the economy and also the benefits given in the Budget keep in mind the middle class of the country that forms a large population of the country.

Q. Do you give a ‘thumbs up’ or ‘thumbs down’? Also, your rating from 1-5 (5 being the best) for the Interim Budget.

A. We give ‘thumbs up’ from our side and overall we would like to give a rating of 4 out of 5.

Q. Which are the top stocks that emerged as winners on the budget day and why?

A. The announced tax rebate to people earning up to Rs 5 lakh will benefit nearly Rs 3 crore middle-class population and will give a boost to FMCG segment as a whole. The spending power of the mass will be increased and the standard of living will improve.

Stocks like Hero MotoCorp, which is the market leader in two-wheelers, and other stocks will benefit and the sales number will improve. It will, in turn, be showcased in the GDP of the country.

Also, the benefits given to the farmers i.e. 6,000 per annum to every farmer having up to 2 hectares land will be regarded as fixed income and will ultimately boost the pesticides and tractor stocks.

Q. Which are the stocks that emerged as losers and are likely to get negatively impacted by the Budget proposals and why?

A. There is no such kind of direct impact on any of the stock or sector as a whole but the sectors like IT and Pharma have got no benefit from the Budget as there was no announcement on these sectors that would have helped the growth.

A large part of the IT and Pharma sectors are into export and the direct factor that impacts those sectors is movement in currency. The major fragment of the business is obstructed when the domestic currency depreciates.

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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