As part of the Diwali 2024 stock picks, JMFS Research has provided in-depth analysis of various stocks, including Reliance Industries, Power Grid Corporation, Bajaj Finance, ICICI Lombard, Jindal Steel & Power, National Aluminium (NALCO), Gravita India, Macrotech Developers, Olectra Greentech, and Ashoka Buildcon. These stocks are recommended based on their growth potential, robust fundamentals, and strategic initiatives that can drive performance in the upcoming quarters.
Stock Picks Overview
| Stock | Target Price (₹) | CMP (₹) | Upside (%) | Recommendation |
|---|---|---|---|---|
| Reliance Industries | 3,500 | 2,745 | 28% | Buy |
| Power Grid Corporation | 383 | 329 | 17% | Buy |
| Bajaj Finance | 8,552 | 7,209 | 18.6% | Buy |
| ICICI Lombard | 2,450 | 2,090 | 17% | Buy |
| Jindal Steel & Power | 1,150 | 980 | 19% | Buy |
| National Aluminium (NALCO) | 264 | 227 | 17% | Buy |
| Gravita India | 3,068 | 2,541 | 21% | Buy |
| Macrotech Developers | 1,480 | 1,200 | 23% | Buy |
| Olectra Greentech | 2,200 | 1,725 | 27% | Buy |
| Ashoka Buildcon | 290 | 252 | 15% | Buy |
Key Highlights:
- Reliance Industries: With growth in Jio and retail segments, and a significant push in the new energy business, RIL is poised for long-term value creation.
- Power Grid Corporation: Strong transmission growth opportunities until 2032, along with robust CapEx guidance, make this a high-visibility earnings play.
- Bajaj Finance: With a diverse product portfolio and AUM growth, Bajaj Finance is positioned for strong returns in the upcoming festive season and beyond.
- ICICI Lombard: Market leader in motor and health insurance, with a well-rounded product suite and strong growth potential in commercial and health insurance.
- Jindal Steel & Power: Capacity expansion and strong margins make this steel major a key beneficiary of the sector’s recovery.
- NALCO: With alumina refinery expansion and increased coal integration, NALCO is expected to see margin improvement and earnings upgrades.
- Gravita India: The company’s ambitious expansion plans and favorable regulatory tailwinds in the lead recycling business make it a strong pick.
- Macrotech Developers (Lodha): Robust pre-sales growth driven by a diversified project mix across residential and mixed-use developments.
- Olectra Greentech: The company’s large order book and ramp-up in electric bus production position it for exponential growth.
- Ashoka Buildcon: Focused on road infrastructure projects and asset monetization, the company has significant growth potential ahead.
Disclaimer:
This article is for informational purposes only and is not intended to provide any financial advice. The views presented in this report do not reflect the opinions of the author or the publication. Investments in the stock market are subject to market risks, and readers are advised to conduct their own research or consult with a financial advisor before making any investment decisions. The publication or author will not be held responsible for any losses incurred based on the information provided.
