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Synopsis:Retail-heavy stocks have shown varied performance in July 2024 ahead of the Union Budget, with significant movements observed in YES Bank, Tata Power, ITC, Suzlon Energy, VIL, IRCTC, and JFS. While YES Bank and ITC have delivered solid returns, VIL and JFS have faced declines.
YES Bank has been a standout performer, delivering an 8.69% return so far in July. This comes as the bank, which boasts the highest number of retail investors (62.11 lakh as of June 30), continues to attract significant attention from individual investors.
Tata Power, despite being a retail favorite, has seen its shares fall by 2.4% this month. This decline is noteworthy as the market anticipates potential incentives for renewable energy in the upcoming budget, given India's target of 500 GW by 2030.
ITC has been a robust performer, delivering a solid 10% return in July. This gain is driven by investor optimism that there will be no significant changes to cigarette or tobacco-related taxes in the upcoming budget.
Suzlon Energy has climbed 4.7% this month, reflecting positive sentiment towards renewable energy stocks. The market is hopeful for enhanced incentives in the renewable energy sector, which could benefit companies like Suzlon.
Vodafone Idea Ltd (VIL) has struggled, with its shares falling 9% in July. This decline comes even as telecom operators, including VIL, have recently increased tariff rates
IRCTC has been a strong performer, with its stock climbing 18% this month. Analysts expect the upcoming budget to include significant investments in railway infrastructure, which would benefit IRCT.
Jio Financial Services (JFS) has declined by 6% in July. The company's recent report of a 5.81% year-on-year dip in consolidated profit has likely contributed to this decline?
