Budget 2023: From Ashok Leyland to L&T, brokerages bet on cyclical stocks

Here are 10 stocks across sectors that are expected to gain the most from the various proposals

The Union Budget for 2023-24 has forced brokerages and equity market analysts to recalibrate their investment strategy. The Budget focused on public capital expenditure (capex) on infrastructure and modest income tax sops to the middle class. 

The allocation for capex is up 33 per cent to a little over Rs 10 trillion, and brokerages have begun to tweak their model portfolio to include stocks that will gain the most from this spending push. Most are now overweight on cyclicals such as banks, steel, cement and construction, and infrastructure stocks.

Analysts also expect an improvement in private consumption in FY24 on