Bajaj Finance, LTI Mindtree and Tata Elxsi among 10 stock buy ideas for Diwali 2024
To brighten up your Diwali portfolio, Geojit has released its stock pick ideas across sectors including NBFC, IT, IT-enabled services and home appliances among others.
It has been a roller-coaster ride for Indian equities with massive gains during the first half leading to record highs, followed by a drag for the past few sessions driven by relentless FII selling, nonetheless, as we head into Samvat 2081, Geojit has released its list of Muhurat stock picks 2024 based on the company's solid fundamentals. Here's a quick check of them:
Shares to buy: Exide Industries
Geojit recommends buying Exide Industries as it believes the overall demand scenario shows signs of pickup due to stability in the 2W volume. We expect the margin to show resilience at current level and improve going forward, it added.
Shares to buy: Bata
The brokerage is bullish on the footwear major as it is of the view that Bata has the capability to revive its revenue growth trajectory given its strong brand recall & distribution reach, and strong balance sheet.
Shares to buy: Tata Consumer Products
The company’s product diversification has strengthened the company’s market position and revenue streams. This justifies the higher valuation, underlines Geojit.
Furthermore, the company’s recent acquisitions will enable it to broaden its target market and support its growth efforts.
Shares to buy: LTIMindtree
The brokerage held stable order inflow in the high-tech & manufacturing verticals will support strong double-digit growth. Also, an increase in US discretionary spending in BFSI space and improved operational efficiency, reduction in sub-contracting are likely to support margin expansion, added Geojit.
Shares to buy: Sun Pharma
Geojit believes strong balance sheet with adequate cash reserves will allow Sun Pharma to continue acquiring assets, which will help in strengthening the business.
Shares to buy: Asian Paints
Supporting the buy argument, the brokerage said that input price inflation remains a near-term caution, however, an expectation of a revival in demand in H2FY25 will lighten-up the volume and earnings growth.
Shares to buy: Mold Tek Packaging
As per the brokerage, Mold-Tek’s adoption of cutting-edge technology, fully backward integration, robust balance sheet, and strong earnings outlook, make it a compelling story.
Shares to buy: Bajaj Finance
Geojit remaked that the NBFC's diversified lending profile, coupled with its customer-centric model and focus on cross-selling, has helped it achieve an optimal balance of risk and profitability to deliver a sustainable business
Shares to buy: TTK Prestige
The brokerage bets on the kitchen appliances company as it believes lower inflation, improvement in real estate sector and strong GoI focus on housing are expected to support demand, given TTK’s entry into the economy segment with its Judge brand.
Shares to buy: Tata Elxsi
In the IT enables services space, the brokerage is bullish on the Tata group stock as current order book from Europe, Japan & emerging markets and reduction in subcontracts are likely to support margin expansion.