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The following penny stocks are likely to be in focus on Friday, February 02, 2024

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In her succinct yet impactful interim budget speech preceding the imminent general elections, Finance Minister Nirmala Sitharaman showcased a strategic and disciplined approach akin to the legendary cricketer Rahul Dravid in crafting the interim budget for the fiscal year 2024-25.

Technical Analysis of 1 stock (with 15-day horizon).

The NSE Mid-Cap Index was down by 0.56 per cent while NSE Small-Cap Index was up by 0.63 per cent.

Unlock valuable insights into the budget's impact through the perspectives shared by experts

These five stocks saw heavy sell-off from intraday highs after Budget 2024 

Here are the Automobile and Renewable Energy industry provisions included in the Interim Budget 2024.

The Passenger Vehicle segment demonstrated a robust YoY growth of 12 per cent, with total domestic sales reaching 53,633 units.

The budget underscored a notable focus on advancing the textile industry, power sector, solar energy, logistics, railways, financial inclusion, and affordable housing

On January 31, 2024, foreign institutional investors (FII) bought shares worth Rs 1,660.72 crore, while domestic institutional investors (DII) bought shares worth Rs 2,542.93 crore.

The budget underscores the government's focus on building a robust and modern infrastructure across all sectors, physical, digital, and social.

Shares of this company have given about 20 per cent returns in the last six months.

On February 1, Finance Minister Nirmala Sitharaman presented the Interim Budget for 2024, a precursor to the upcoming Lok Sabha elections, which is commonly known as an Interim or vote-on-account budget.

Budget 2024-2025 allocation for Ministry of Chemicals and Fertilizers stood at Rs 1.68 lakh crore

Direct Benefit Transfer, PM-SVANidhi, PM-JANMAN Yojana, PM-Vishwakarma Yojana, and PM Mudra Yojana are some of the key initiatives announced in Budget 2024 aimed at empowering the poor and increasing their purchasing power.

The Indian railway system is considered the backbone of the Indian economy and is one of the largest railway systems in the world under single management.

Do you own these metal stocks that delivered multibagger returns since the last budget?

The RoSCTL aims to compensate for State and Central Taxes and Levies, along with the Duty Drawback Scheme, on the export of apparel/garments and made-ups through a rebate mechanism.

The index's performance indicates a notable uptrend during the intraday session, showcasing potential market optimism in response to the fiscal policy announcements in the budget.

The Indian stock markets started the trading day with a good outlook. The Sensex opened 0.01 percent higher while the Nifty opened 0.1 per cent higher.

The stock is up by 85 per cent from its 52-week low of Rs 3.78 per share and gave multibagger returns of 275 per cent in 5 years.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in green with a gain of 182.36 points or 0.25 per cent.

The stock gave multibagger returns of 275 per cent from its 52-week low of Rs 66 per share, 575 per cent in 3 years and a whopping 700 per cent in 5 years.

Previously revolutionising the IT industry, these technological advancements are currently enhancing efficiency, productivity and cost control in the pharmaceutical industry

The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 97.45 per share.

The Union Budget 2023-24 disclosed a disinvestment target of Rs 51,000 crore, marking a notable 21 per cent dip and the lowest in seven years.

Max pain at the end of today's trade for weekly expiry on February 1 stands at 21650.

The past ten year budget days have delivered a median return of 0.16 per cent.

The stock gave multibagger returns of over 250 per cent from its 52-week low of Rs 63.35 per share.

he industry, already on a high-growth trajectory, is hoping for a shot in the arm from the government in the form of policy incentives and financial support.

The India VIX, which measures market volatility, has slightly decreased by 0.34 per cent, indicating a decrease in market volatility.

AGL's exports for Q3FY24 reached Rs 55 crores, registering an 8 per cent year-on-year rise

The stock gave multibagger returns of 226 per cent from its 52-week low of Rs 88.15 per share.

On February 1, Finance Minister Nirmala Sitharaman's budget speech will reveal a delicate balance of new spending initiatives and a cautious approach to fiscal discipline.

The stock gave multibagger returns of 265 per cent in just 1 year and of a whopping 1,245 per cent in 3 years.

Tata Motors' market capitalization now stands at Rs 3.14 lakh crore, surpassing Maruti Suzuki's market cap of Rs 3.13 lakh crore.

The Indian government has been supportive of renewable energy in recent years, and the Union Budget 2025 is expected to include several measures to promote the sector.

On January 30, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,970.52 crore, while domestic institutional investors (DII) bought shares worth Rs 1,002.70 crore.

The market capitalization of BSE-listed companies was Rs 3,79,57,836 crore or approx. Rs 380 lakh crore as of January 30, 2024.

Expert opinions that can provide valuable insights into market expectations for the budget.

The stock gave multibagger returns of over 200 per cent in just 1 year whereas BSE Small-cap Index is 62 per cent and a whopping 870 per cent in 3 years.

The stock is up by 87 per cent from its 52-week low of Rs 18 per share and gave multibagger returns of over 560 per cent in 3 years.

With the interim budget of 2024 looming on the horizon, the spotlight is firmly fixed on infrastructure stocks.

The first half of FY24 maintained the momentum while boasting impressive RoE and RoCE of 38 per cent and 30 per cent respectively.

A remarkable 27 out of 56 analysed PSE stocks from the BSE PSU Index delivered returns exceeding 100 per cent

The shares of the company have an ROE of 28.4 per cent and an ROCE of 24 per cent.

As of December 31, 2023, the company boasts a robust closing order book, totaling Rs 1695 crore. For the financial year ending March 2023, the company reported sales of Rs 371 crore.

Top 5 stocks to watch out for on budget day

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 110.60 per share.

The broader market sentiment remains positive, with 2,406 stocks advancing compared to 1,272 declining, reflecting an overall optimistic trend in the market.

Interim Budget 2024: Balancing Fiscal Prudence and Growth

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The stock gave multibagger returns of 230 per cent in just 1 year and a whopping 900 per cent in 3 years.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in red with a loss of 138.25 points or 0.19 per cent.

The stock gave multibagger returns of 300 per cent in just 1 year whereas the BSE Small-Cap index is up by 59 per cent.

Global growth is moderating, and inflation is slowly coming down. Global central banks are close to the end of the rate hike cycle.

The broader market sentiment hinted at a slight pessimistic tone, with 1,047 stocks advancing compared to 1,179 stocks declining, indicating a nuanced outlook in the overall market landscape.

The stock gave multibagger returns of 190 per cent in 1 year and a whopping 900 per cent in 3 years.

The shares of the company have a PE of 62.6x, an ROE of 25.3 per cent and an ROCE of 30.3 per cent.

Stock has proven to be a wealth generator, delivering multibagger returns of an impressive 174 per cent in the last year alone. Zooming out to a three-year horizon, the stock has witnessed a staggering surge of 460 per cent, painting a picture of sustained and remarkable growth.

The stock gave multibagger returns of over 650 per cent from its 52-week low of Rs 16.25 per share.

Max pain at the end of today's trade for weekly expiry on February 1 stands at 21600.

The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 19.5 per cent.

This project, labeled as India's largest hydropower initiative by the government, holds a total value of Rs 3,637 crores, with company's share amounting to Rs 1,818 crores.

The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 22.56 per share and over 500 per cent in 3 years.

Market volatility has increased by 2.69 per cent, as shown by the India VIX, which indicates a jump in market volatility.

Tata Investment Corporation Ltd, Prime Focus Ltd and Shakti Pumps (India) Ltd were among the top gainers on the BSE Smallcap index!

On the sectoral front, the indices were trading in red with the BSE Realty Index being the only top gainer while the BSE Consumer Durables Index and BSE Capital Goods Index were the top losers.

On January 29, 2024, foreign institutional investors (FII) bought shares worth Rs 110.01 crore, while domestic institutional investors (DII) bought shares worth Rs 3,221.34 crore.

The company's ambitious objectives for the IPO proceeds include fortifying technological infrastructure, fostering organic growth through the establishment of BLS Stores, pursuing inorganic growth via acquisitions, and meeting general corporate requirements.

From Rs 1.87 to Rs 86.30 per share, the stock delivered multibagger returns of 4,500 per cent in 3 years.

The stock gave multibagger returns of over 110 per cent in just 6 months whereas BSE Small-Cap Index is up by 29 per cent.

Instead of setting aside a lump sum for your dream abroad trip, you can plan it through disciplined investment. By investing Rs 12,000 a month (as a couple, Rs 6,000 + Rs 6,000) in mutual funds via SIPs, and enjoying average returns, you might find yourself sipping coffee at a quaint European café sooner than you think.

The stock gave multibagger returns of over 180 per cent from its 52-week low of Rs 2.66 per share.

Shares of this company have given about 40 per cent returns in the last six months.

The broader market sentiment remains positive, with 2,093 stocks advancing compared to 1,538 stocks declining, showcasing an overall optimistic trend in the market.

Gaining insight into pivotal factors that influence the success of IPOs will enable you to seize valuable investment opportunities!

Over a decade, the stock has soared from Rs 1.61 per share to Rs 110.67 per share, achieving multibagger returns exceeding 6,700 per cent.

Commanding attention on the stock exchanges with a remarkable 15 per cent uptick. This surge is underscored by the highest single-day trading volume since April of the previous year, propelling the stock to attain a fresh 52-week high

The primary market is buzzing with outstanding gains; do you want to capitalise on the opportunities?

The stock gave multibagger returns of 248 per cent in just 1 year whereas BSE Small-Cap Index is up by 63 per cent.

Constituting approximately 75 per cent of the projected total Capex of Rs. 2.62 lakh Crores for the entire financial year. This robust utilization underscores the efficient and effective deployment of resources in various strategic initiatives and projects aimed at bolstering the railway infrastructure.

At the pre-opening bell, the frontline index S&P BSE Sensex stood flat with a slight gain of 12.15 points or 0.02 per cent.

A significant development: a long-term contract spanning seven years with Rolls-Royce (Rolls-Royce PLC). This strategic agreement involves the production and supply of critical engine parts for Rolls-Royce's Defence/Military Aircraft engines

Intriguingly, a noteworthy revelation surfaces as the Life Insurance Corporation of India (LIC) holds a 6.31 percent stake in the company, translating to a staggering 416,836,708 shares.

This recent positive momentum has propelled the stock to a notable upswing of 22.56 per cent over the last three months, with a 9.05 per cent increase observed in the past month alone

Max pain at the end of today's trade for weekly expiry on February 1 stands at 21600.

The shares of this company are trading at a PE multiple of 13.2x, an ROE of 26.5 per cent and an ROCE of 38.6 per cent, all of which point to strong managerial performance.

The broader market sentiment appeared optimistic, with 1,411 stocks advancing compared to 818 stocks declining, underlining a positive outlook in the overall market landscape.

Shakti Pumps (India) Ltd, Dhunseri Ventures Ltd and VLS Finance Ltd were among the top gainers on the BSE Smallcap index!

The stock experienced a significant surge in trading volume today, surpassing its weekly average by 21.5 times