Some of the best stocks to buy now can be found in the infrastructure sector in India which includes power, airports, railways, ports, bridges, dams, roads and urban infrastructure development. As you might be aware of, in the Union Budget for 2019, the Finance Minister Nirmala Sitharaman announced a massive 100 lakh crore investment allocation for infrastructure development over the next 5 years. This shows how serious the government is about developing the infrastructure which is the backbone of a developed country. That’s why infrastructure sector will give rise to many business opportunities which can be termed as the best stocks to buy now.
Over the last 5 years, the Union Road Transport and Highways Minister Nitin Gadkari, has totally transformed the transport infrastructure sector that was plagued by countless problems. He has been instrumental in reviving stalled highways projects worth Rs. 1 lakh crore and doubling the pace at which highways are being constructed in India. From a construction rate of just about 12 km per day in 2014-15, the rate has reached 27 km a day during 2017-18.
His level of seriousness about infrastructure development in the country is revealed by a framed quote prominently displayed in a wall on his office.
“American roads are good not because America is rich. America is rich because American roads are good.”
To further give a push to the country’s infrastructure, Union Road Transport and Highways Ministry has announced big plans which include roping in an advisor for asset monetization and offering attractive schemes to private players, and developing projects spread across 3,000 kms.
Sectors where one can find the best stocks to invest now
These projects are likely to benefit many companies operating in the engineering and capital goods sector with the capacity to build and execute large projects making them best stocks to buy now. Other companies which will benefit from this include cement manufacturers as cement is a critical component of construction. So some of the best stocks to buy can be found in the cement sector too.
There is no doubt that infrastructure development in a country act as big GDP multipliers and they are the biggest enablers for socio-economic growth. India needs a robust infrastructure which will support its race towards becoming a USD 5 trillion economy. So many businesses which will participate in this infrastructure building can be considered as the best stocks to buy now. And the best part is that some of the best stocks to buy now from these sectors are available at good valuation currently due to market correction in the last few months.