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“While we did not expect any major announcements in this budget, the lower fiscal deficit coupled with higher capex outlay will aid continued momentum of India growth story. Both of these moves are enablers for a pickup in the private capex cycle,” says Ashish Gupta, CIO, Axis Mutual Fund
ET Mutual Funds spoke to mutual fund managers to find out what fund managers are expecting from the budget 2024.
Mutual fund industry players believe that mutual funds should be more tax friendly and brought in line with ULIPs. They also demand that the switch between different schemes is exempted from capital gains tax. Some also believe that the steps should be taken to unlock savings made in gold
"We expect the RBI to cut rates by 75 basis points from the latter part of the year 2024. Effectively, while the RBI rate cut could be 75 basis points, the 10-year yields could potentially fall by 100 basis points, from the current level of 7.2% to 6.2%," ICICI Securities analyst Sachin Jain said.
Price-to-Book ratio is a metric that investors use extensively to determine the valuation of a stock. It helps to understand if a stock is undervalued or overvalued. It is calculated by comparing the current market price of a stock with its book value. The book value is a measure of a company's total assets excluding its total liabilities.