Top stocks that are likely to benefit from FM's Budget proposals

According to Phillip Capital increased allocation for capital expenditure will bode well for large banks, namely ICICI Bank, Axis Bank, HDFC Bank and State Bank of India

The Union Budget gave a shot in the arm to the stock market bulls as the benchmark indices rallied nearly 8 per cent in the last two days, wherein they not only wiped off the losses witnessed last week but also reclaimed the 50,000 mark on the BSE barometer Sensex.

A higher allocation towards capital expenditure with a focus on roads, infra and railways can give a significant growth impetus to the economy, according to analysts. Meanwhile, a lack of change in the taxes, both personal and corporate, along with the proposal of bad banks, disinvestment and bank recapitalisation helped