Top 10 stocks that saw heavy demand from buyers before the budget 2024 announcement

As the Indian stock market braces itself for the much-anticipated interim budget of 2024, scheduled for presentation today, February 1, a flurry of buying activity has been observed in select stocks. These stocks, seemingly poised for potential gains in anticipation of budget-related announcements, have attracted significant investor interest, hinting at where market sentiment might lie. 

While the full impact of the budget remains to be seen, here’s a glimpse at the top 10 stocks that witnessed heavy demand from buyers ahead of this crucial fiscal event

Tata Consultancy Services Ltd (TCS) is exhibiting significant activity in both price and volume. Starting the day at Rs 3820, TCS reached an intraday high of Rs 3,884.95 and a low of Rs 3,805.05. The current trading price is Rs 3,875.1, representing a 1.55% increase from the previous close of Rs 3,815.95. The market cap stands at Rs 1,401,519.85 crores, with a 52-week high of Rs 3965 and a 52-week low of Rs 3,070.25. Investors are closely monitoring TCS amid the anticipation surrounding the budget announcement.

Indian Renewable Energy Development Agency Ltd (IREDA) is actively participating in today’s market activity. With the opening price at Rs 183, IREDA witnessed an intraday high of Rs 190.85 and a low of Rs 183. The stock is currently trading at Rs 190.85, reflecting a substantial 4.98% increase from the previous close of Rs 181.8. The market cap for IREDA is Rs 51,295.98 crores, with a 52-week high and low of Rs 190.85 and Rs 50, respectively. The stock is capturing attention as investors position themselves ahead of the Interim Budget announcement.

Suzlon Energy Ltd (SUZLON) is experiencing notable activity in the lead-up to the Interim Budget of 2024. Opening the day at Rs 47.3, SUZLON reached an intraday high of Rs 48.2 and a low of Rs 47. The current trading price is Rs 48.2, marking a 4.90% increase from the previous close of Rs 45.95. The market cap stands at Rs 65,663.00 crores, with a 52-week high and low of Rs 48.2 and Rs 6.95, respectively. Investors are closely watching SUZLON amidst the pre-budget market dynamics.

Housing And Urban Development Corp Ltd (HUDCO) is witnessing heightened activity ahead of the Interim Budget announcement. Starting at Rs 173.55, Hudco saw an intraday high of Rs 188.7 and a low of Rs 172.05. The current trading price is Rs 185.55, indicating a substantial 7.66% increase from the previous close of Rs 172.35. The market cap for Hudco is Rs 37,006.37 crores, with a 52-week high and low of Rs 188.7 and Rs 40.4, respectively. Investors are actively participating in Hudco amid market volatility leading up to the budget release.

Godrej Consumer Products Limited (GODREJCP) is at the center of market activity before the Interim Budget announcement. Commencing the day at Rs 1,212.05, GODREJCP reached an intraday high of Rs 1,314.3 and a low of Rs 1,210. The current trading price is Rs 1282.25, reflecting a significant 10.14% increase from the previous close of Rs 1,164.2. The market cap stands at Rs 131,033.47 crores, with a 52-week high and low of Rs 1,314.3 and Rs 894.2, respectively. Investors are closely monitoring GODREJCP as market dynamics unfold before the budget declaration.

NHPC Ltd (NHPC) is actively participating in today’s market activities ahead of the Interim Budget. Starting at Rs 91.95, NHPC witnessed an intraday high of Rs 93.35 and a low of Rs 90.95. The current trading price is Rs 92.7, indicating a 1.92% increase from the previous close of Rs 90.95. The market cap for NHPC is Rs 93,085.54 crore, with a 52-week high and low of Rs 93.35 and Rs 37.75, respectively. Investors are closely watching NHPC amidst the anticipation surrounding the budget announcement.

Indian Railway Finance Corp Ltd (IRFC) is experiencing heightened activity in the lead-up to the Interim Budget of 2024. Opening the day at Rs 180, IRFC reached an intraday high of Rs 181.3 and a low of Rs 176.7. The current trading price is Rs 180.55, marking a 3.08% increase from the previous close of Rs 175.15. The market cap stands at Rs 2,36,017.12 crores, with a 52-week high and low of Rs 192.8 and Rs 25.4, respectively. Investors are actively participating in IRFC amid market volatility leading up to the budget release.

Ircon International Ltd (IRCON) is witnessing notable activity ahead of the Interim Budget announcement. Starting at Rs 239.75, IRCON saw an intraday high of Rs 245.1 and a low of Rs 234.35. The current trading price is Rs 238, indicating a marginal 0.27% increase from the previous close of Rs 237.35. The market cap for IRCON is Rs 22,393.67 crores, with a 52-week high and low of Rs 280.85 and Rs 50.1, respectively. Investors are closely monitoring IRCON as market dynamics unfold prior to the budget declaration.

Urja Global Ltd (Urja) is actively participating in today’s market activities ahead of the Interim Budget. Starting at Rs 36, Urja reached an intraday high of Rs 37.85 and a low of Rs 35.5. The current trading price is Rs 37.85, reflecting a substantial 9.87% increase from the previous close of Rs 34.45. The market cap for Urja is Rs 1,992.19 crores, with a 52-week high and low of Rs 37.85 and Rs 6, respectively. Investors are closely watching Urja amidst the anticipation surrounding the budget announcement.

Infibeam Avenues Ltd (INFIBEAM) is experiencing heightened activity in the lead-up to the Interim Budget of 2024. Commencing the day at Rs 36.8, INFIBEAM reached an intraday high of Rs 40 and a low of Rs 36.75. The current trading price is Rs 38.9, marking a substantial 10.83% increase from the previous close of Rs 35.1. The market cap stands at Rs 10,773.15 crore, with a 52-week high and low of Rs 40 and Rs 12.85, respectively. Investors are actively participating in INFIBEAM amid market volatility leading up to the budget release.

To get the Budget 2024 live update, click here.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.