The Indian stock market witnessed a significant boost as the Sensex climbed by 566.56 points, marking a 0.75% increase to reach 76,467.97. Similarly, the Nifty advanced 177.35 points or 0.77%, settling at 23,134.60. A total of 2,720 shares saw gains, while 817 declined and 61 remained unchanged. This positive momentum comes amid anticipation for the upcoming Union Budget, which is expected to prioritize infrastructure investment and fiscal stability.
The Cabinet Committee on Economic Affairs (CCEA) has approved an increase in ethanol prices ahead of its cabinet meeting, signaling support for the biofuel sector. Additionally, management reports indicate that peak credit costs have been reached, with reduced delinquency flows. While operational trends are stabilizing, there was a slight quarterly rise in gross stage 3 assets. Despite this, management confidently asserts that the bottom has been hit, although no specific guidance was provided on future improvements.
Ambuja Cements announced plans to expand its capacity to 118 MTPA by FY26, with a target of reaching 140 MTPA by FY28. The company remains on track to achieve these ambitious goals. Furthermore, various financial indicators such as QIB, NII, Retail, Employee Reserved, and Shareholder portions reflect steady performance across different segments.
As the Union Budget for 2025 approaches, expectations are high for a comprehensive fiscal plan from the Modi government. The budget is likely to focus on continued infrastructure investments in key areas like housing, electricity, and employment generation. The targeted fiscal deficit of around 4.5% of GDP underscores the government's commitment to macroeconomic stability amidst global uncertainties. While discussions about potential taxpayer relief may occur, major changes in the tax structure are unlikely. Instead, the emphasis will be on boosting capital expenditure and stimulating consumption to revitalize the economy. This balanced approach aims to support growth initiatives while maintaining fiscal responsibility, setting a positive direction for India’s economic future.