Union Budget 2024: Key Infrastructure Stocks to Keep on Your Radar

The construction of infrastructure is crucial since it will simplify logistics and lower transit costs and times. As Union Finance Minister Nirmala Sitharaman prepares to present the Modi 3.0 government's first budget, anticipation is widespread that the Union Budget 2024 will prioritize infrastructure development. The budget is intended to enhance the construction industry as the economy grows to USD 5 trillion by 2025-26 and USD 7 trillion by 2030. While private sector capex remains low due to uncertain global economic conditions and concerns about inflationary pressures, additional government spending will be critical to boosting the construction industry. Why is infrastructure development essential for logistics? Infrastructure development is essential since it will streamline logistics, shorten travel times, and lower prices. Improved highways, ports, and airports will allow for faster and more efficient transit of products. This will increase India's export competitiveness, attract global markets, and stimulate the economy. The logistics industry has also set expectations for the Union Budget 2024. According to experts, the finance ministry should focus on big infrastructure investments to boost efficiency, such as creating multimodal logistics parks and designated freight corridors. Here’s a list of the top 10 infrastructure stocks to watch out for: Ashoka BuildCon. Ashoka Buildcon, a Fortune India 500 firm, is a significant highway developer in India. The company is a fully integrated EPC, BOT, and HAM player. The company has built approximately 14,000 kilometers of highway, and its order book as of March 31, 2024 is worth more than Rs 11000 crore. LTP: Rs. 239 Market capitalization: Rs 6,709.3 crore. Dilip Buildcon Dilip Buildcon was founded in 2006 and is situated in Bhopal. Dilip Buildcon is currently in the business of developing infrastructure facilities on an engineering, procurement, and construction (EPC) basis, and it accepts contracts from various governments, other parties, and special purpose vehicles sponsored by the company. LTP: Rs. 514.6 Market capitalization: Rs 7524.2 crore. G R Infra projects. G.R. Infraprojects is one of the fastest growing companies in the Indian infrastructure business, with over 25 years of experience. With a focus on BOT and HAM projects, the company had an order book of Rs 16780.60 crore as of March 31, 2024. LTP: Rs. 1696.9 Market capitalization: Rs 16407.2 crore. Hindustan Construction Company Hindustan Construction Company (HCC) designs and builds infrastructure projects throughout India, including dams, tunnels, bridges, hydro, nuclear, and thermal power plants, expressways and roads, marine