Equity investors on Dalal Street are waiting for the full Union Budget to see if it contains what is needed to revive the domestic equity market and put it on a rising trajectory.There are expectations that Finance Minister Nirmala Sitharaman would announce some policy measures that can boost the sagging economy, create jobs and to address rural distress, among other key concerns.Equity benchmark Sensex has risen around 10 per cent since the last full Budget in February 2018, riding a handful of stocks such as RIL, HDFC twins and Bajaj Finance among other, while 80 per cent of stocks in the broader market have eroded investor wealth in the same period.“The market is at an all-time high but there is no excitement there due to the polarisation. Stocks are going from hero to zero in no time. Somehow, the index is refusing to reflect the uncertainties like delayed monsoon and NBFC crisis, or ongoing economic slowdown,” said Raamdeo Agrawal, a market veteran and Joint Managing Director at Motilal Oswal Financial Services.The Union Budget is a very big event for the market, as it will hold cues on what the government is planning to do over the next five years.“Right now, the market is ignoring good things in the economy and focusing only on the slowdown. As an investor, you should think about the next five years. The strong political mandate for the government has a lot of meaning. I am cautiously optimistic and remain invested in the market. I would not wait too long for further clearance of the sky to decide my further allocation,” Agrawal said.Speculation is rife that the government will address financial sector troubles like rising non-performing assets and liquidity crisis in NBFCs, which will in turn help lift consumption demand. Therefore, there could be action in sectors like auto, FMCG, housing and building materials.“Specific sectors which might benefit from this Budget include healthcare or pharma, banking, FMCG and housing finance,” says Arun Thukral, MD & CEO, Axis Securities.Any Budget incentives to build the healthcare infrastructure will benefit the pharma sector. There are also expectations of a roadmap for banking reforms, including consolidation of the state-owned lenders, to support the economy in the next phase of growth.“There is a high probability that this Budget would see higher allocation for recapitalisation of PSU banks. This, in turn, will strengthen the banking sector,” Thukral said.Based on these assumptions and various brokerage recommendations, we collated a list of stocks that can potentially deliver healthy returns if the Budget indeed manages to bring the market alive.The lender is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. ICICI Bank ’s net interest income (NII) increased by 27 per cent YoY to Rs. 7,620 crore in Q4FY19 from Rs 6,022 crore. Net NPA ratio decreased to 2.06 per cent of advances as at end Q4 FY19, from 2.58 per cent YoY.Marico is a consumer products company operating in the beauty and wellness space. The company's principal products include edible oils and value added hair oils. The management has given a guidance for aggressive investment for innovations and a visibly strong pipeline for the next 2-3 years. Over the last three years, the company has systematically invested in the core international markets to strengthen both the brands and the organisational capability to handle growth. The company is confident that each of these markets is well-poised to capitalise on the market opportunities.The mortgage lender provides loans for purchase, construction, repairs and renovation of houses/flats to individuals, corporate bodies, builders and co-operative housing societies. The company has witnessed growth coming in from different sectors across the country and the management seems confident of further improvement on all operational areas in FY20. Bharat Electronics is engaged in design, manufacture and supply of electronics products/systems for the defence requirements, as well as for nondefense markets. BEL is well positioned to benefit from the rising defence expenditure, supported by strong manufacturing base and execution track record, relationship with defence and government agencies, strategic collaboration with foreign technology partners for new product development, in-house R&D capabilities and increased focus on exports to friendly countries.Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other operations. The treasury operations include trading and investments in government and corporate debt instruments, equity and mutual funds, derivative trading and foreign exchange operations on account and for customers. The management of the bank has focused in wholesale banking which would continue to give strong, balanced credit growth and improvement in asset quality.This is an engineering, procurement and construction (EPC) contracting company. It manufactures metal frameworks or skeletons for construction and parts, such as towers, masts, trusses and bridges. Strong traction is expected to continue from SEB (state electricity boards)’s, private players along with Power Grid (PGCIL) in domestic T&D segment. It has participated in tenders worth Rs. 8,000- 9,000 crore till date in T&D space both global and local. Currently around 15 per cent of total revenues come from the railways and pipeline (R&P) segment. The company’s order book stands at Rs 14,068 crore as at Q4 FY19. The company has guided for sales growth of 15-20 per cent, and EBITDA margin of 10.5-11 per cent in FY20. Dabur , Colgate and Hero MotoCorp will benefit from higher allocations to MNREGA, expansion of PM KISAN Scheme and any other targeted income transfer scheme for farmers or the rural population.(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. 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