Table of Contents
Overview
Best stocks to invest in 2024: If you concentrate on themes like capex, PSUs, manufacturing, and consumption in 2024, you will have plenty opportunities for choosing bottom-up stocks in the stock market, yet single-digit gains at the Nifty level may have to suffice. These are the top ten brokerage stock recommendations.
Nothing much shifts in the equity markets at the start of the year, but many investors are taking advantage of the chance to evaluate their holdings, select profitable strategies, and get rid of underperforming investments. Regarding to select the best stocks to invest in 2024, the trends including manufacturing, consumption, PSUs, and capital expenditures seem optimistic.
The most optimistic objective for the Nifty at the index level in 2024 is 25,000, while bearish anticipate a 25% decline.
The Best Stocks to invest in 2024 for your portfolio are listed below:
Greenply Industries (ICICI Direct)
The building materials category, that includes wood panel (ply, laminates, and MDF), will be fueled by the majority of residential real estate built in the last two to three years, starting in CY24. Greenply stands to gain significantly from the same. With a target price of Rs 295, we have assessed the firm at a P/E of 26x FY25E.
Cyient (Axis Securities)
Pressures from sustainability and an imminent platform upgrade are setting the aerospace sector up for a decadal super cycle that will result in higher ER&D spending. On the other hand, the rail segment is expected to experience moderate growth, mostly driven by software. We continue to advise buying at a target price of Rs 3,000 per share (30 times FY26 EPS).
Kotak Mahindra Bank (Religare Broking)
The bank is performing well compared to its peers because it is witnessing strong credit demand in the retail sector and a sizable amount of its book of loans is secured. In addition, the bank will benefit from Mr. Ashok Vaswani’s recent appointment as MD & CEO. Target Price: Rs 2110
Paushak (Progressive Shares)
Paushak is a dividend-paying company that is largely debt free as it works on expanding its capacity and technology advancement. The management’s vision aligns closely with the idea of making India an independent manufacturer of specialized chemicals. We keep our bullish outlook on the company and hold onto our target price of Rs 9555.
Wonderla Holidays (Axis Securities)
WHL is a safe bet in the discretionary category due to its attractive values of 14x/10x its FY25E/FY26E EV/EBIDTA, a solid balance sheet despite significant capital expenditure, and double-digit profits outlook. Target price: Rs 1,137.
Pitti Engineering (Axis Securities)
The stock looks attractive at the present CMP, with a 14x 1-year forward consensus PE. We value the firm at 19x on FY26 earnings in light of the aforesaid growth factors, arriving at a target price of Rs 915 per share.
NMDC (ICICI Securities)
Over the seven-year period from FY14 to FY21, NMDC’s production volume remained steady at ~30–35 MT. However, the company is expected to reach ~46 MT in FY24 and exceed ~50 MT by FY25. A roughly 13% volume CAGR to 55 MT by FY26E has been included in. This is in addition to its aggressive goal of increasing capacity to 67 MT by FY26 and then to 100 MT by FY30. Target Price: Rs 250.
Eicher Motors (Religare Broking)
Eicher will directly benefit from the industry’s trend toward motorcycles with shifts of 125cc and beyond. Eicher will also make use of its Stark Future investment, which aims to meet the expanding demand for EVs in the commercial vehicle market, in keeping with the growing EV demand. Target price: Rs 4550–4800
The Indian Hume Pipe & Co. Ltd. (Progressive Shares)
The organization focuses on project completions while maintaining up with more recent, emerging opportunities in infrastructure-related activities. The company has also provided an update on the different projects it is working on all through the property parcels it owns, and the realizations from these projects will help the company in being debt-free within the next five to six years. Target price: Rs 310
Nelcast (Progressive Shares)
Plenty of possibilities are emerging in the electric vehicle (EV) area, and Nelcast is actively participating in that market as it prepares to take advantage of these opportunities through the launch of new products and clients, technological developments, etc. The company’s goals include raising output, increasing capacity utilization, improving Ebitda/kg, and lowering capital expenditure needs, all of which can help with debt servicing and enhance return ratios in the future. We remain bullish about the stock and have set a target price of Rs 210.
Disclaimer
The expert’s views, opinions, suggestions, and recommendations are completely their own. These don’t reflect The Swing Trading Plan’s thoughts.
