Markets will take note of the incremental capex announced in the budget that is directionally growth oriented
(Image: Reuters)
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
The Union budget for FY23 will not go down in history as a dream budget, nor will it have a long-lasting impact on the equities markets. However, equity markets in India will breathe a sigh of relief and thank the Finance Minister (FM) for presenting a budget that is directionally “growth oriented” and devoid of any incremental negatives. Markets usually have a long list of ask, and this time was no different. The budget was expected to give a big…
