Don't write off Modi stocks: More than half are back in full throttle, budget may bring more tailwinds for them

It has been a sort of tradition that the last full budget of any government and also the interim government is focussed on garnering votes and generally fiscal prudence is kept aside. But in the case of the Modi government, both in the last full budget presented in 2023 and interim budget presented in 2024, fiscal prudence was maintained. Given that government revenues are on strong footing, even if the government announces some measure which on face of it might look to be politically correct. There is little chance that fiscal prudence would be kept aside and that is what matters in the end to the street. So, there is a possibility that Modi stocks, which have been the star performers in the first five months of 2024, will be back in the limelight. Don't write them off. More than half of them are already higher than what there was before the election results came in. The policy push may continue for lots of sectors which have been the focus area of this government.