BJP’s manifesto prompts market participants to assess stocks on the watch list
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BJP, expected to sweep the upcoming polls, emphasizes continuity in its reform agenda in its manifesto. Capital Goods, housing, Mortgages, Tourism, and Aviation are direct beneficiaries, according to Emkay global.
The BJP’s election manifesto, termed ‘Sankalp Patra’ has captured the attention of stock market participants who are assessing possible spaces that could be on the radar over next few months.
The manifesto has promised continuity of key policies along with new measures to deepen India’s economic progress. If the government retains power for a third term, the focus will be on infrastructure expansion, according to the document.
Among the key focus areas are manufacturing, exports, MSMEs, and with in infrastructure, the government is expected to focus on housing, defence, railways, aviation, energy, roads, EVs, among others.
Stocks that should be on your watchlist after BJP’s manifesto launch
- Housing: Housing and Urban Development Corporation (HUDCO), Major steel players (JSW Steel, Tata Steel), Housing Finance Companies, Cement (UltraTech Cement, Ambuja Cement, ACC).
- Tourism: Hotel (Indian Hotels Company and other larger players), Aviation (entire industry) and NBFCs (credit-card players).
- Railway infrastructure (new and enhancement): Major steel players; APL Apollo, JTL, Surya, Hi-Tech.
- EVs: Auto manufacturers (Tata Motors, TVS Motor) and NBFCs (Shriram Finance, Sundaram Finance and Chola Finance).
- Suppliers of auto parts: Motherson and Sona BLW.
- Mudra loan limit expansion: Public Sector Banks, Small Finance Banks and MFIs.
- Working capital to MSME: Shriram Finance, MasFin and Bajaj Finance.
- Natural gas: Gas (GAIL, PLNG, IGL, Mahanagar Gas, Gujarat Gas, IRM, Adani Total Gas) and pipes (Welspun Corp, Maharashtra Seamless, Ratnamani Metals). Read more
- Increase in crop MSP: Tractors (Escorts Kubota and M&M) and NBFC (MMFSL, Chola, Shriram Finance and Sundaram Finance).
- Har Ghar Jal Scheme: Jindal Saw, Welspun Corp, Electrosteel Castings, Hi-Tech, JTL , Surya, and APL Apollo
- Pharma: Divi’s Lab, Syngene, Suven Pharma, Ami Organic (boosting mfg. and research capacities, expand Research-Linked Incentive schemes).
- FMCG (rural recovery): Dabur, Emami and Bajaj Consumer, HUL, Colgate and Britannia.
- PM-eBus: Ashok Leyland, Tata Motors, JBM Auto, Olectra Greentech.
According to some analysts, the promises in the manifesto should have a positive impact on sectors such as automobiles, cement, metals, pipes, real estate, alternative fuels, financials, pharma, FMCG, EMS, hotels and airlines. “Sustainable, technological, regionally balanced, and globally unified development will continue to be the guiding light for future policies,” said brokerage firm Philip Capital said in a report.
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