Indian Markets seem to be cautious ahead of Union Budget - Microsec

Indian markets seem to be cautious ahead of Union Budget. All the eyes on the FinMin how it strike a balance to content the rising fiscal deficit and CAD and to revive the investment cycle in the economy in the upcoming budget. Pre-budget session seems to be lacklustre as we believe that any momentum is likely to visible only after the Union Budget which is scheduled to held on Feb 28,2013.

RBI's guidelines for new banking licences may keep the potential contenders in the limelight.

We recommended a BUY for L&T, Aditya Birla Nuvo, Bata India, Pidilite Industries, Swaraj Engines, NBCC, ILFS, IDFC LIC M& M Finance from the long term perspective.

Source : Equity Bulls

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