SBI to ICICI Bank, HCL Tech to HDFC Life II Sharekhan says that the Budget was Bold and growth oriented Budget
The Union Budget 2021-22 highlights a significant shift in the government’s fiscal policy stance. Growth has taken precedence over fiscal prudence and the government proposes to substantially increase outlay for healthcare, infrastructure development & other capital expenditure programs. The Union Budget proposes pragmatic measures to raise resources through aggressive privatisation and monetisation of assets of public sector entities.
A strong Q3 result season and earnings upgrades would provide valuation support to markets. Post the Budget, we see a scope for continued re-rating of construction, building materials and public-sector companies: Reuters