With the new GST regime swallowing up more than a dozen indirect taxes, the budget speech this time is unlikely to bring any nasty surprises for the stocks.
But since the focus will be on the farmer relief package, the stocks to look at would be Mahinda & Mahindra (M&M), Escorts, Jain Irrigation etc.
If the government announces a universal basic income scheme, consumption space could get a boost and stocks such as Hindustan Unilever (HUL), Emami, Dabur, two-wheelers like Hero MotoCorp are likely to move in anticipation.
In the metal space, the street is expecting a 10-12.50 percent hike in import duty on aluminium from current 7.50 percent while the import duty on aluminium scrap could be hiked to 7.50 percent versus 2.50 percent currently. Stocks on the radar are Hindalco, Nalco and Vedanta.
Finally, the duty on coking coal may be reduced from the current 2.50 percent and that will help the steel industry and positive for names like Tata Steel, JSW Steel etc. They are also asking for the exemption from the environmental cess.
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