Sectors on Fire: Top Performing Stocks Since Interim Budget 2024
Discover the top-performing stocks in real estate, hospitality, and more, with returns of up to 801% since the Interim Budget 2024
Interim Budget 2024Stock MarketReal EstateHospitalityUnion BudgetReal Estate PuneJul 20, 2024
Sayaji Hotel (Pune) emerged as the top gainer, with its share price climbing 801% from Rs 96.02 on February 1, 2024, to Rs 865.55 on July 18, 2024. Artificial Electronics Intelligent Material, Healthy Life Agritec, Royal India Corporation, Tinna Trade, and Sayaji Hotels (Indore) followed closely, with returns ranging from 759% to 576%.
The benchmark equity index, BSE Sensex, gained nearly 14% during the same period, while the BSE Midcap and BSE Smallcap indices rallied 23% and 18%, respectively.
Industry experts expect the forthcoming Union Budget to bring benefits to several sectors, including affordable housing, industrials, engineering, consumer goods, and more. 'Hotels must be granted infrastructure status, which will propel private investments. A new incentive scheme needs to be announced for additional job creation in the labour-intensive sectors,' said Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels Ltd.
Other top-performing stocks included Spright Agro, Diamond Power Infrastructure, Inland Printers, Ceenik Exports (India), Aerpace Industries, Kaycee Industries, Ace Software Exports, Alphalogic Techsys, Eraaya Lifespaces, Kisan Mouldings, and Ashish Polyplast, which gained between 300% and 455% since the Interim Budget.
Real estate players, including Jamshri Realty, Arihant Foundations & Housing, Kesar India, Navkar Urbanstructure, Vipul Ltd, and IITL Projects, also rallied more than 100% since February 1. Industry experts believe that government initiatives in key sectors will continue to bolster investor confidence.
'A new incentive scheme needs to be announced for additional job creation in the labour-intensive sectors. Visa-free arrival for travellers from top source markets will make India emerge as a leader in the tourism industry,' said Vijay Dewan.
The real estate sector, in particular, is expected to continue its upward trend, driven by factors such as low inventory levels, record-low EMI, and a K-shaped recovery driving demand in the premium segment.
Frequently Asked Questions
What was the top-performing stock since the Interim Budget 2024?
Sayaji Hotel (Pune) with a return of 801%
Which sectors are expected to benefit from the forthcoming Union Budget?
Affordable housing, industrials, engineering, consumer goods, and more
What is the current state of the real estate sector in India?
The sector is reviving after being in the dust for over a decade and a half, with low inventory levels and record-low EMI
What is the expectation from the Union Budget for the hospitality sector?
Hotels must be granted infrastructure status, which will propel private investments
What is the impact of government initiatives on the stock market?
Government initiatives in key sectors are set to bolster investor confidence further
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