As India heads into an election year in 2024, the government’s budgetary spend towards infrastructure development is expected to increase significantly. This is good news for cement, construction and Infra stocks, which stand to benefit the most. 

This screener reflects companies in this sector which are likely to see revenue growth of over 10% YoY in Q4FY23 and have outperformed the Nifty 50 in the past month. These stocks have also seen their relative strength index (RSI) rise above 50.

Industries like cement and cement products, construction and engineering and heavy electrical equipment feature in the screener. Major stocks include MTAR Technologies, RHI Magnesita India, GE T&D India, Dalmia Bharat and HG Infra Engineering.

MTAR Technologies is expected to see the highest revenue growth of 96.4% YoY in Q4FY23, according to Trendlyne’s forecaster. Edelweiss reports that the company has received fresh orders of Rs 140 crore, taking the total order book to Rs 1,000 crore at the end of FY23. 

Forecaster estimates GE T&D India’s quarterly revenue to increase by 10.1% YoY in Q4FY23. Meanwhile, ICICI Securities predicts that the company will benefit from margin expansion aided by lower raw commodity prices and the government’s increased focus on renewable power evacuation, which will lead to bottom-line growth for this industrial machinery company. 

Dalmia Bharat is expected to see its Q4FY23 revenue grow by 13.7% YoY according to forecaster estimates. Axis Direct says that the company’s divestment plan of its non-core business coupled with its recent acquisition of JP Associates Cements, gels well with its strategy to focus on its core business.

You can find more screeners here.