Budget 2025 tax cut sparks rally in Zomato, DMart, other consumer stocks

Budget 2025: Shares of consumer discretionary and consumer durable companies surged on February 1, 2024 as investors cheered Finance Minister Nirmala Sitharaman's game-changing tax reform—no income tax for individuals earning up to Rs 12 lakh under the new regime—that is expected to boost domestic consumption.

As of 2pm IST,:

• Zomato was up nearly 7 per cent at Rs 236.
  
• DMart (Avenue Supermarts) was up 8 per cent at Rs 3,975.
  
• Maruti gained 5 per cent to Rs 12,935.
  
• Trent rallied 7 per cent to Rs 6,148.
  
• ITC, Hindustan Unilever rallied up to 4 per cent.
  
• Blue Star was up 9 per cent at Rs 1,983.

The sweeping tax cut is expected to put more money in the hands of middle-class consumers, potentially boosting demand in retail, travel, discretionary spending, and help lift urban consumption. This tax overhaul marks one of the biggest financial reforms in recent years, which is likely to drive fresh momentum in India's consumption-driven economy.

Also read: Budget 2025 LIVE: FM exempts income tax up to Rs 12 lakh