3C investing new mantra for stock pickers after Budget. Over 30 ideas from 6 brokerages

NEW DELHI: Notwithstanding the overshadowing of post-Budget celebrations by the carnage in Adani stocks, Nirmala Sitharaman's pro-growth Budget has left more bulls than bears on Dalal Street.

With the government clearly focusing on long-term infrastructure push, the 3C mantra of capex, credit growth and consumption is loud and clear for stock pickers, bringing sectors like banking, auto, consumers, building materials and infra under the lens.

"The second consecutive sharp increase in budgetary outlay on infra and continued focus on affordable housing would be positive for infra, construction and building material companies," brokerage firm

Anand Rathi said. It also expects select durable goods (like ACs), wire, and cable manufacturers also stand to gain.

Global brokerage firm BNP Paribas' Kunal Vora sees the Budget as positive for infrastructure because of the large budgetary allocation, private banks for relative attractiveness of FDs and MFs and consumer durables on account of higher disposable income.

Sharekhan said the Budget has all the necessary elements to sustain the ongoing corporate earnings rebound in subsequent periods. "An increase in quality expenditures like capital expenditures and promoting manufacturing activities with a necessary focus towards the rural economy, we believe the Indian economy should continue to outperform other economies as forecasted by global agencies," it said.

Here are top stock picks from 6 brokerages after the Budget:

Sharekhan
Largecaps: Reliance Industries, HDFC Bank, SBI, M&M, UltraTech, Infosys, Titan, ITC SRF, L&T
Mid & small-caps: Trent, Indian Hotels, Greaves Cotton, Polycab India, PNC Infratech, Coforge, Cummins

BP Equities
Rail stocks: IRCTC, IRCON, IRFC, RVNL & RITES
Agri stocks: Godrej Agrovet, Avanti Feeds, Venky's India
Auto stocks: Tata Motors, Maruti, Ashok Leyland, Mahindra & Mahindra
Specialty chemical stocks: SRF, Navin Fluorine, Gujarat Fluorochem, Jubilant Ingrevia, Laxmi Organics, MFL
Agrochemical stocks: UPL, PI Industries
Electronics manufacturing: Dixon, Amber Enterprises
Hotel stocks: Chalet Hotels, Lemon Tree Hotels, Indian Hotels

William O'Neil
Defence stocks: BEL, Bharat Forge, HAL, Mazagon Dock, and GRSE
Roads and Highways: ACE, L&T, PNC Infra, KNR Construction, HG Infra, GR Infra, IRB Infra, Ashoka Buildcon
Tourism: Indian Hotels, IRCTC, EasyTrip, and EIH

Anand Rathi
Amber Enterprises, Ashok Leyland, Indian Hotels, ITD Cementation, ITC, KNR Constructions, NCC, PNC Infratech, Tata Motors and Ultratech

BNP Paribas
L&T, ITC, Bharat Electronics

Motilal Oswal
Largecaps: L&T, Axis Bank, Bajaj Finance, Bharti Airtel, TCS, ITC, Titan, ONGC, Maruti, and Sun Pharma
Midcaps: Samvardhana Motherson, APL Apollo, Dalmia Bharat, Angel One, and Lemon Tree

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)