Union Budget 2026: Sector-wise budget breakdowns and impact on shares listed on NSE:
Particulars | Est 2026-27 allocation | 2025-26 allocation | Proposals | Stocks in focus |
DEFENCE (+10-21%) | ₹7.35 Lakh Crore | ₹6.81 Lakh Crore | •Domestic manufacturing surge under ‘Make in India’; •modernization of fighter jets, missiles, avionics, shipbuilding, and R&D | •HAL, BEL, BDL, GRSE – Primary beneficiaries (direct contracts) •L&T, Bharat Forge, Data Patterns, Astra Microwave – Support ecosystems • |
ROADS & HIGHWAYS (+8-10%) | ₹3.05 Lakh Crore | ₹2.78 Lakh Crore | •Highway expansion, asset monetization, toll-based models, logistics efficiency, PPP infrastructure | •L&T, Ashoka Buildcon, NCC, IRB Infra, GR Infra, HG Infra, PNC Infra – Strong order book growth • |
RAILWAYS (+ 3-5 %) | ₹2.80 Lakh Crore | ₹2.70 Lakh Crore | •Track expansion, electrification, signalling, freight corridors, rolling stock, modern coaches | •L&T, Siemens, Alstom, BHEL, Wheels India, BEML, Cummins – Equipment and service providers • |
RURAL DEVELOPMENT & MNREGA (+5%) | ₹2 Lakh Crore | ₹1.9 Lakh Crore | •Employment generation, PM Awas housing, sanitation, basic infrastructure, income support | •Cement stocks (Ambuja Cements, ACC, UltraTech) – Housing construction demand •HDFC Bank, SBI, ICICI Bank – Rural credit growth |
AGRICULTURE (+5-7%) | ₹1.63 Lakh Crore | ₹1.52 Lakh Crore | •Pulses self-reliance mission (procurement support) •PM Dhan-Dhaanya Krishi Yojana (100 districts coverage) •Kisan Credit Card limit raised to ₹5 Lakh •High-yield seeds and cotton productivity programs | •Kaveri Seed, Godrej Agrovet, BASF India, UPL, Syngenta, Coromandel International, Deepak Fertilizers |
ENERGY (NUCLEAR, SOLAR, WIND) (+10-21%) | ₹1.35 Lakh Crore | ₹1.20 Lakh Crore | •Nuclear Energy Mission: ₹20,000 Crore (small modular reactors; 100 GW by 2047) •PM Surya Ghar & PM-KUSUM expansions •DISCOM refinancing for grid stability •EV infrastructure support | •Tata Power, NTPC, BHEL, NHPC, Power Grid – Traditional power players transitioning to renewables •Hero MotoCorp, Bajaj Auto, Exide, Amara Raja – EV ecosystem beneficiaries |
URBAN INFRASTRUCTURE & SMART CITIES (+8-10%) | ₹1.65 Lakh Crore | ₹1.50 Lakh Crore | •Metro rail, public transport, water, sewerage, waste management, smart city tech | •L&T, Godrej Properties, DLF, HDFC Bank, Larsen & Toubro – Infrastructure & real estate play |
HEALTHCARE & PHARMA (+8-10%) | ₹1.10 Lakh Crore | ₹1 Lakh Crore | •Ayushman Bharat AB-PMJAY: ₹9,406 Crore •PMABHIM (Health Infrastructure): ₹4,200 Crore •PLI for Pharma: ₹2,445 Crore •Duty exemptions on 36 lifesaving drugs; medical tourism push | •Apollo Hospitals, Max Healthcare, Medanta, Lal PathLabs, Metropolis – Hospital & diagnostics play •Dr Reddy, Cipla, Aurobindo Pharma – Pharma exports and PLI boost |
MANUFACTURING & MSMEs (+12-15%) | ₹70,000 Crore | ₹60,000 Crore | •PLI for electronics & solar manufacturing •Credit enhancements for NBFCs •Mudra loan limits raised •Export incentives and special economic zones | •Ashok Leyland, TVS Motor, Motherson Sumi, JSW Steel – Manufacturing backbone •Hero MotoCorp, Bajaj Auto – Domestic & export play |
MARITIME & SHIPPING (+10-12%) | ₹28,000 Crore | ₹25,000 Crore | •Maritime Fund (₹25,000 Crore; 49% government share) | •GRSE, Cochin Shipyard, Adani Ports, Gujarat Pipavav, Container Corp, APL Apollo |
For detailed discussion on above, please feel free to contact devadhaantu@devadhaantu.in