| Sector |
Benefits |
Potential beneficiary companies
|
| Automobile |
Government employees often buy two -wheelers or small cars after the Pay Commission is implemented |
Hero Motocorp, Maruti Suzuki
|
| Real estate |
HRRA increases and the ability to buy housing increases |
Developers associated with Affordable Housing
|
| Banking |
Increased salary and arrears will increase liquidity in banking system |
SBI, Indian Bank, Canara Bank, Axis Bank, Yes Bank
|
| Insurance |
Investing in policy or guaranteed return schemes from arrear amount possible |
HDFC Life, SBI Life, Max Financial, ICICI PRUDENIAL, LIC
|
| Non-lending fintech |
People can invest in mutual funds or stock markets out of bank deposits |
CAMS, KFIN, Angel One (HDFC MF, Nippon Mf indirect beneficiaries)
|
| Credit cards |
Increased spending will increase the attraction of card use and rewards |
SBI Cards |
| FMCG |
Trend towards premium products will increase |
United Spirits, United Breweries
|
| Consumer desirement |
Increase in spending on clothes, grocery, footwear and travel |
Trent, DMART, BATA, V-Mart, V2 Retail, Style Baazar, Jubilant Foods
|
| Consumer durables |
Demand for aspirational products like electronics and kitchen appliances will increase |
Crompton, Orient Electric, Bajaj Electricals, TTK PrestigE, V-Guard
|
