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  5. Trent to Zomato: 10 major NIFTY100 stocks that rose after Budget 2025; here’s why

Market News

Trent to Zomato: 10 major NIFTY100 stocks that rose after Budget 2025; here’s why

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By Sreenivas Ajankar

4 min read | Updated on February 01, 2025, 17:00 IST

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SUMMARY

Finance Minister Nirmala Sitharaman's Budget 2025 introduced tax relief for the middle class, making incomes up to ₹12 lakh tax-free. This sparked a rally in consumption-driven stocks, including DMart, Trent, Godrej Consumer, and Britannia, as investors anticipated higher spending and growth in key sectors.

Stock list

DMART
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GODREJCP
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ZOMATO
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MARUTI
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Budget 2025: Top 10 NIFTY 100 gainers as market cheers tax relief to middle class

NIFTY 100 gainers as market cheers tax relief to middle class | Image: Shutterstock

Finance minister Nirmala Sitharaman finally bit the bullet on personal income taxes and provided major relief to the middle class in her eighth budget speech on February 1. To boost savings and consumption, Sitharaman made income up to ₹12 lakh per annum tax-free under the new tax regime while also revising income tax slabs.

Reacting to the development, shares of consumption-driven companies rallied on stock exchanges on Saturday.

Here are the 10 major stocks that were among the biggest beneficiaries from the NIFTY 100 pack:

Retail sector

Shares of retail companies rallied on Saturday on hopes that lower income tax would spur discretionary spending among families. DMart and Trent were among the top gainers in the retail space on exchanges.

DMart: Shares of Avenue Supermarts Ltd, the owner and operator of DMart stores, gained almost 10% to hit an intraday high of ₹4,084 apiece on the NSE on Saturday.
Trent: Shares of Tata group retailer Trent Ltd, which owns and operates fashion and lifestyle retail formats such as Westside, Zudio and Zara in India, surged as much as 8% to hit an intraday high of ₹6,2,70 on the NSE on Saturday.

FMCG/Consumer durables

The Nifty FMCG index was the top gainer among sectoral indices, driven by hopes of consumption revival across rural and urban India. The consumer durables space also outperformed the markets.

Godrej Consumer: Shares of Godrej Consumer Products Ltd (GCPL) rose as much as 8.3% to hit an intraday high of ₹1,214.50 apiece on the NSE. GCPL's products include soap, hair colourants, toiletries and liquid detergents. Its brands include 'Cinthol', 'Godrej Fair Glow' and 'Godrej No.1’, among others.
Britannia: Shares of Britannia Industries Ltd climbed as much as 4.9% to hit the day’s high of ₹5,379 apiece on the NSE.
ITC: Shares of ITC Ltd were up as much as 5.4% to hit an intraday high of ₹471.50 apiece on the NSE. ITC has a diversified presence in branded packaged foods, personal care, education and stationery, agarbattis and safety matches and cigarettes, among others.

Shares of cigarette makers such as Godfrey Phillips India Ltd (+8.2%), VST Industries (+1%), and Golden Tobacco Ltd (+4.99%) as Budget 2025 didn’t announce any new tax on cigarette and tobacco-related products.

Food industry

The consumption story also drove a rally in stocks of food aggregators like Zomato and Swiggy on Saturday. Even companies operating in the food and restaurant space were seeing a major upswing.

Zomato: Shares of Zomato Ltd surged 9% to hit an intra-day high of ₹240.40 apiece.
Varun Beverages: Shares of Varun Beverages, which is the second-largest franchisee partner for PepsiCo (outside the US), gained as much as 8.6% on Saturday to hit an intraday high of ₹582.90 apiece.

Auto stocks

Auto stocks zoomed on Saturday on hopes that a favourable tax structure will boost the demand sentiment, especially for entry-level cars and electric vehicles.

Maruti Suzuki: Shares of Maruti Suzuki India Ltd, India’s largest passenger vehicle company, jumped as much as 6.8% to hit the day’s high of ₹13,150 apiece on the NSE.
TVS Motor: India’s leading two-wheeler company TVS Motor Co. Ltd also zoomed a whopping 9.4% to hit an intraday high of ₹2,688 apiece on the NSE.

Battery manufacturers

Shares of companies operating in the batteries and power storage systems jumped on Sitharaman’s announcement of exemptions from basic customs duty (BCD) for 35 additional capital goods for EV battery manufacturing. This will increase EV adoption on account of reduced production costs.

Exide: Shares of Exide Industries Ltd, which designs, manufactures, markets and sells the widest range of lead acid storage batteries in the world, gained as much as 4.4% to ₹390.95 apiece on Saturday on the NSE.
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About The Author

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Sreenivas Ajankar is a Deputy Editor at Upstox. He has over nine years of experience in capital markets and has been associated with Upstox since April 2022. Previously, he worked as a Lead Equity Analyst. His primary expertise lies in equity research and analysis. His areas of expertise include stock investment and analysis and business valuation.

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