Khara said the budget has rightly recognised the role of core equity capital in financial sector by increasing the FDI limit in insurance companies to 74%.
KNR Constructions Ltd, IIFL Finance Ltd, MSTC Ltd and Tata Motors Ltd are among the other gainers in the BSE's 'A' group today, 02 February 2021.
Here are top stocks which brokerage ICICI Securities believes could benefit from Union Budget 2021:
Bajaj Auto rose 2.30% to Rs 4,208.75 after the two-wheeler maker's total sales rose 8% to 4,25,199 units in January 2021 from 3,94,473 units in January 2020.
Larsen & Toubro Ltd has added 16.72% over last one month compared to 12.52% gain in S&P BSE Capital Goods index and 3.31% rise in the SENSEX
Capital Goods stocks were trading in green, with the S&P BSE Capital Goods index increasing 1027.41 points or 5% at 21577.11 at 09:48 IST.
Financials stocks were trading in the positive zone, with the S&P BSE Finance index rising 265.76 points or 3.64% at 7573.49 at 09:48 IST.
Shares of Indigo Paints made a stellar debut on the bourses with a hefty premium over the issue price. On the NSE, the scrip listed at Rs 2,607.50, up 75% over its issue price of Rs 1,490 per share.
Sensex trades at 49992 up 1321 points. While the Nifty50 is up 384 points or 2.69% at 14672.