Buy Budget 2023 Shares Today: As Finance Minister Nirmala Sitharaman is about to present the last full budget of the Modi government, Dalal Street experts and stock market observers are busy scanning the key findings of the Economic Survey 2023 and finding pointers for the Union Budget 2023. According to stock market experts, one of the key findings of the Indian Economic Survey is that the EV market is likely to cross the mark of one crore sales per year by 2030.
Share Market Experts said the result is an indication that FM Sitharaman may announce some concrete road map for EV vehicles in India and predicted that auto companies investing in the EV segment could benefit from it. He said the government is expected to focus on the infrastructure sector in today’s budget as well and advised positional investors to add Mahindra & Mahindra (M&M) and Tata Motors shares to their stock portfolio.
Speaking on the reasons for the bullish sentiment on auto stocks after the Economic Survey 2023 results, Sandeep Pandey, former vice-chairman of HDFC Bank, said, “Budget 2023 is expected to focus on the infrastructure sector, which will be followed by some other sectors like metals, auto As the Economic Survey predicts the EV vehicle market in India to cross the one crore mark per annum by 2030, I would like to inform the FM regarding the road map to shift from diesel and petrol vehicles to EVs. Expecting some concrete announcement from Nirmala Sitharaman. So, such outcome in expected announcement in Economic Survey and Budget 2023 is expected to benefit those auto companies.”
Regarding stock buying ahead of Union Budget 2023, Basava Capital Director Sandeep Pandey said Tata Motors and M&M shares can be watched as they can benefit from the growth in EV market in India. However, he added that one should invest in such auto stocks for the long term.
Agreeing with Sandip Pandey, Ganesh Dongre, Senior Manager – Technical Research, Anand Rathi said, “The shares of Tata Motors and M&M are looking positive on the chart pattern for long term investors. At current levels, Tata Can buy Motors shares for long term goals. maintain stop loss at 550 360 whereas M&M shares can be added to one’s stock portfolio for long term goals 1550 each level. However, stop loss should be maintained Taking any position in 1010 M&M shares.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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