With less than a week for the Budget, the market is eagerly for positive triggers for another rally. Though there are not much strong expectations from it, there are sectors which may get special attention in the Budget.
Ajay Srivastava, CEO, Dimensions Consulting is hoping that the Budget will bring in good news for the capital goods and power sectors. He is positive on BHEL but negative on L&T at current levels.
Srivastava, however, warns that there excise duty may be hike to 14% in this Budget.
Meanwhile, according to him the RBI is unlikely to cut rates in its monetary policy review on March 15, which may just turn out to be a non-event.
In a bid to pump liquidity into the banking system, the Reserve Bank of India has cut the cash reserve ratio (CRR) by 75 basis points to 4.75%, effective March 10. The move is expected to inject Rs 48,000 crore into the system.
The CRR is the percentage of the deposits that a bank must not lend, but keep as cash with the Reserve Bank.
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