11 construction and cement stocks to watch ahead of Union Budget 2024

Budget 2024 may give a boost to infrastructure spending, benefitting construction and cement stocks.

As the Union Budget 2024 approaches, the construction and cement sectors are poised for significant attention. Key capex announcements and the government's focus on infrastructure development are expected to create substantial opportunities for companies within these industries. Here are the top construction and cement stocks to watch ahead of the budget.

Construction stocks

KNR Constructions: With the continued thrust on infrastructure, KNR Constructions is set to benefit from increased government spending on roads, highways, and urban development.

PNC Infratech: PNC Infratech stands to gain from large-scale infrastructure projects, particularly in the transportation sector, which includes roads and highways.

RITES: As a key player in the railway infrastructure segment, RITES is likely to see significant opportunities from the government's focus on railway modernisation and safety.

J Kumar Infraprojects: J Kumar Infraprojects is positioned to benefit from urban infrastructure projects, including metro rail developments and other urban transport systems.

Ahluwalia Contracts: Ahluwalia Contracts is expected to gain from the overall boost in infrastructure spending, particularly in urban development and construction projects.

Also Read: Union Budget 2024 Live Updates

Cement stocks

UltraTech Cement: UltraTech Cement stands to benefit from major highway projects and increased infrastructure spending, which are expected to boost demand for cement.

Ambuja Cements: Ambuja Cements is poised for growth as infrastructure development drives demand for construction materials.

Dalmia Bharat: Dalmia Bharat is well-positioned to capitalise on the increased demand for cement resulting from government infrastructure projects.

JK Cement: JK Cement is expected to benefit from the government's focus on enhancing infrastructure, particularly in road and highway projects.

JK Lakshmi: With the anticipated rise in construction activities, JK Lakshmi is likely to see a surge in demand for its cement products.

Birla Corp: Birla Corp stands to gain from the overall increase in infrastructure spending and the resulting demand for cement.

Market outlook

The Union Budget 2024 is expected to prioritise infrastructure development, with significant allocations anticipated for roads, highways, railways, and urban development. This focus is likely to drive demand for construction and cement products.