Budget 2024: UltraTech, Nuvoco, Bharti Airtel, HCL Tech are the 4 infra sector picks by Ajit Mishra, Religare Broking

Budget 2024: Investors expectations remain high on Budget providing boost to the infrastructure sector. Segments like railways, Road construction, digital infrastructure and other could get a boost. Here are some picks of Religare Broking in the infrastructure sector.

Ajit Mishra, SVP- Research, Religare Broking says, “Investors can participate in the infra theme through cement stocks like Ultratech Cement and Nuvoco Vistas Corporation. Ultratech Cement, a market leader, will continue to benefit from sector trends and Nuvoco Vistas is known for its innovative products.

Besides in the digital infrastructure space, Bharti Airtel and HCL Technologies are also promising options. The telecom giant Bharti Airtel enjoys a strong market share in digital infrastructure, while HCL Technologies Ltd offers integrated products and services in Engineering and Research and Development (R&D) Services, both poised to benefit from the country's expanding digital economy.

Mishra added that "while much of the anticipated growth is factored into current stock prices following recent surges, the long-term outlook for India’s infrastructure sector remains promising. Investors are encouraged to align their investment horizons accordingly to capitalize on emerging opportunities.”

Meanwhile UltraTech Cement share price was trading 1.7% higher at ₹11,449.00 levels on the NSE one day prior to the Budget. UltraTech Share price has gained around 9.5% year to date. UltraTech had reported its financial performance on Friday and its reported net profit remained flat at ₹1696.59 . The cement prices have not been moving up even though UltraTech cement sales volume was strong up 6% year-on-year . The volume growth indicates strong demand while prices may pick up post monsoon , which will be watched for.

Nuvoco Vistas Corporation share price was also trading around 1% higher on Monday.

HCL Technologies and Bharti Airtel share prices however were trading flat to negative . HCL Technologies share price has gained 9.6% year to date while Bharti Airtel share price has risen 44% year to date.

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