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Budget 2015-16: Need radical Budget; don’t see major tax changes: Quantum

As far as the Railway Budget goes, all positives that may come from it are already priced in, says Sanjay Dutt. Certain core issues have been plaguing the Railways for many years now and if Suresh Prabhu has to bring the railways back on track, there is a need for some radical decisions

Ahead of the much-awaited Budget over the upcoming weekend, the market is expected to remain volatile over the next few days, is the word coming in from Sanjay Dutt, director, Quantum Securities. At the moment, the market is at the upper end of the trading range, he says.

As expected, there will be a lot of noise in the run up to the Budget. But Dutt does not expect major changes on the tax front in the Budget. “The Budget needs to be a radical, out-of-the-box type of a Budget,” he told CNBC-TV18. If it indeed turns out to be a Modi Budget, or if finance minister Arun Jaitley truly manages to deliver, there will be a big rally in the market, he adds.

As far as the Railway Budget goes, all positives that may come from it are already priced in, he says. Certain core issues have been plaguing the Railways for many years now and if Suresh Prabhu has to bring the railways back on track, there is a need for some radical decisions on that front as well.

Coming back to the markets, despite most investors increasing their IT play, Dutt says he will not be doing the same. According to him, IT is a crowded trade right now. He infact advises investors move money from the IT sector to some of the riskier assets and to buy banks on every dip. He sees the Nifty hitting 9500-9800 in the next 12 months.

Stay tuned for more…

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