Yes Bank, with the highest number of retail investors as of June 30 (62.11 lakh), delivered an 8.69% return in July.
Retail favourite stocks such as Yes Bank Ltd, Tata Power Ltd, Suzlon Energy Ltd, Vodafone Idea Ltd, Jio Financial Services Ltd (JFS), and ITC Ltd have delivered mixed returns in July ahead of the Union Budget 2024.
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Among the 20 BSE500 stocks with the highest number of individual investors (up to Rs 2 lakh), half outperformed the Sensex’s 2.7% rise this month, while the other half underperformed, with seven stocks delivering negative returns, reported Business Today.
Yes Bank, with the highest number of retail investors as of June 30 (62.11 lakh), delivered an 8.69% return in July.
With 46.46 lakh retail investors as of March 31, Tata Steel saw its shares fall by 4.39% this month. Vodafone Idea Ltd, which had 46.41 lakh investors as of June 30, fell by 9% despite recent tariff hikes by telecom operators, including VIL.
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Tata Motors, with 45.30 lakh retail investors, rose by 3.6% this month, beating the Sensex’s return.
Indian Railway Finance Corporation Ltd (IRCTC) climbed 18% in July.
According to Fisdom Research, the Budget may include announcements aimed at expanding and modernising railway infrastructure, such as new lines, station redevelopment, and the introduction of modern trains, potentially benefiting IRCTC.
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Tata Power, a retail favourite, fell by 2.4%, while Suzlon Energy climbed 4.7%.
JFS declined by 6% in July. JM Financial anticipates that the Budget may include enhanced incentives for renewable energy, given the 500 GW target by 2030, which could benefit Tata Power and Suzlon Energy.
JFS’s decline was attributed to a 5.81% year-on-year dip in its consolidated profit for the June quarter, at Rs 312.63 crore.
ITC delivered a solid 10% return amid expectations that there would be no changes to cigarette/tobacco-related taxes in the Budget.
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Prabhudas Lilladher (PL) increased its weight behind ITC by 50 basis points, anticipating a benign cigarette taxation environment, revival in FMCG and paperboard profitability from the second half of FY25, and value unlocking from the hotel demerger.
