Lok Sabha Election 2024: Invest in these 2 shares for maximum growth before the election result
Market analysts have identified two stocks that hold promise for investors, advising to grab them before the election outcome, as they could witness significant growth under the new government.
As the anticipation surrounding the Lok Sabha election results builds up, investors are eyeing potential winners in the market. Amidst this atmosphere of uncertainty, domestic markets are witnessing a surge, hinting at the end of election-related jitters. Market analysts have identified two stocks that hold promise for investors, advising to grab them before the election outcome, as they could witness significant growth under the new government.
1. Texmaco Rail
Vikas Sethi from Sethi Finmart recommends Texmaco Rail as a pre-election addition to your portfolio. Texmaco Rail is a prominent player in the railway sector, engaged in manufacturing wagons and undertaking projects related to signaling, tracks, and EPC for railways. With a robust order book comprising 15,000 wagons from the railways and 2,000 from the private sector, the company stands poised for expansion. The government's focus on bolstering the railway infrastructure further adds to its appeal. Sethi suggests a target price of 250 with a stop loss at 170.
Texmaco Rail witnessed a surge of 4.44% on Monday, closing at Rs 198. Over various timeframes, the stock has shown promising returns: 3.87% in 5 days, 8.08% in 1 month, and an impressive 31.49% in 6 months.
2. Cochin Shipyard
Chandan Taparia, a derivative and technical analyst at MOFSL, advocates buying Cochin Shipyard ahead of the election results. The shipping sector has been experiencing positive movements lately, and Cochin Shipyard is no exception. Taparia notes consistent opportunities for profit on weekly, monthly, and daily charts. Having recently broken out of consolidation, the stock's upward trend remains intact. Taparia suggests a target of 2200 with a stop loss at 1700.
Cochin Shipyard closed at Rs 1971 on Monday, marking a 3% increase. Over the past 5 trading sessions, the stock has surged by over 35%, demonstrating an impressive growth trajectory of 47% in 1 month and a staggering 248% in just 6 months. Notably, the stock has soared by 709% in the past year, with experts maintaining a bullish outlook even from its current price level.
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