Share Market Highlights Budget 2023: Share Market Highlights Budget 2023: D-Street Gives Major Cheer to Budget Announcement, Ends With Moderate Gains

Market closed in green on Wednesday however the excitement surrounding the Budget subsided that was visible in the closing points on both brouses. Investors began to take profits before the Fed's interest rate announcement, the equity indexes Sensex and Nifty closed the day with mixed results.

The benchmark 30-share BSE Sensex increased 158.18 points or 0.27 percent to close at 59,708.08 after having mostly erased its intraday losses. It had increased by 1,223.54 points, or 2%, over the day to reach 60,773.44. The larger NSE Nifty, in contrast, fell 45.85 points, or 0.26 percent, to finish at 17,616.30.

Anand Rathi, Founder & Chairman, Anand Rathi Group welcomed the 33% increase in capital expenditure to the tune of Rs 10 lakh crore. He appreciated it for being the highest ever that will "go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of Rs. 2.4 lac crore in Railways is commendable. Boost to capex before the national polls is an indication Modi is focused on realizing his dream of making India a factory for the world."

"The gross borrowing estimate of 15.43 trillion rupees for next year is lower than the survey estimates of 15.77 trillion rupees. Hopefully, that should cheer the bond markets. Net borrowing at 12.3 trillion rupees, however, is higher than the estimate. Need to see how much of that could be raised via green bonds, Rathi added.

From the Sensex pack, ITC, Tata Steel, ICICI Bank, Tata Consultancy Services, HDFC, HDFC Bank and Kotak Mahindra Bank were the major gainers. On the other hand, Bajaj Finserv, State Bank of India, IndusInd Bank and Mahindra & Mahindra were the prominent laggards.

Foreign Institutional Investors (FIIs) offloaded shares worth a net Rs 5,439.64 crore on Tuesday, according to exchange data.

Budget 2023 LIVE Streaming on Zee News:

Here are the Highlights from Stock Market Movement

01 February 2023

01 February 2023 15:43 IST

Share Market Live Budget 2023: Yes Securities gives BUY Recommendation to Blue Star Ltd (BLSTR IN)

BLSTR now has made a habit of beating consensus, Q3 is the 5th quarter in row where they have delivered positive surprise. All segments have contributed to its growth with all its verticals registering strong double-digit growth. Order-inflow continues to be robust with order-book swelling to Rs48bn which has been highest ever. Execution is expected to keep pace with inflows and backlog as there is pressure on execution from its customers. We now pencil in revenue/EBITDA/PAT CAGR of 21%/29%/42% over FY22-25E. We have increased our SoTP-based PT to Rs1,521 vs earlier Rs1,370 valuing Unitary products business at 45x rolling forward our valuation multiple.

01 February 2023 14:55 IST

Share Market Live Budget 2023: Yes Securities gives BUY Recommendation to Blue Star Ltd (BLSTR IN)

CMP: Rs 1,228

Target Price: Rs 1,521

Potential Return: +23.9%