Diwali Picks Summarised 2024

India on a Strong Footing Amidst Global shifts
India continues to demonstrate robust growth and resilience despite the evolving global economic and geopolitical environment. The Indian economy is projected to grow at 7.2% in FY25, maintaining its position as the fastest-growing major economy, supported by robust domestic demand, easing inflationary pressures, and the resurgence of private capex. Both, Manufacturing and Services PMI remain in expansionary territory, reflecting healthy demand across sectors.
Increased capacity utilization, coupled with greater private sector confidence and public infrastructure spending, is further boosting the capital expenditure (capex) revival seen over the last year. Additionally, GST collections have sustained at high levels, providing a solid revenue base for the government to meet fiscal targets. This robust tax base, alongside prudent fiscal management, is allowing the government to maintain course on meeting the sub-5% (of GDP) Fiscal Deficit target while ensuring continued investments in infrastructure.
On-the-whole, healthy banking sector metrics and corporate debt levels are also providing a conducive environment for private investments to accelerate.India’s ability to maintain inflation within manageable limits, supported by
softening global commodity prices, is aiding sustained corporate profitability.
The Nifty PE is currently trading at 20.8x 1-year forward EPS.
DIIs & Retail have emerged as dominant players
DII flows continue to grow robustly in India on the back of increasing incomes across levels, propelling the markets to newer highs. DII flows in FY25 (until September) stand at Rs 2.32 Lk Cr – having already surpassed FY24 flows. As such, despite FIIs
flows being muted, the Indian markets have been buoyantly driven by strong SIP flows (+23.4% CAGR over the last 5 years) and domestic buying.
Additionally, the emergence of direct retail participants has been instrumental in lowering overall dependence on FIIs.
HDFC SEC / Angel One / Share India
Name | Broker | LTP | Target |
Bank of India | HDFC SEC | 105 | 132 |
JK Lakshmi Cement Ltd | HDFC SEC | 811 | 936 |
Jyothy Labs Ltd | HDFC SEC | 528 | 600 |
L&T Finance Ltd | HDFC SEC | 168 | 219 |
National Aluminium Company Ltd | HDFC SEC | 218 | 270 |
Navin Fluorine International Ltd | HDFC SEC | 3362 | 3948 |
NCC Ltd | HDFC SEC | 300 | 363 |
PNB Housing Finance Ltd | HDFC SEC | 981 | 1160 |
Reliance Industries Ltd | HDFC SEC | 2689 | 3243 |
State Bank of India | HDFC SEC | 805 | 960 |
Vesuvius India Ltd | Angel One | 5780 | 6770 |
Nippon Life Asset management limited | Angel One | 707 | 820 |
NCC Ltd | Angel One | 301 | 400 |
Jyothy Labs Ltd | Angel One | 539 | 680 |
Blue Star | Angel One | 2045 | 2570 |
Dixon Technolog. | Angel One | 15402 | 19070 |
Nippon Life Ind. | Angel One | 707 | 820 |
Colgate-Palmoliv | Angel One | 3492 | 4590 |
Jyothy Labs Ltd | Angel One | 529 | 680 |
Mahanagar Gas | Angel One | 1835 | 2310 |
eClerx Services | Angel One | 3072 | 3700 |
Persistent Sys | Angel One | 5631 | 7040 |
Neuland Labs. | Angel One | 15667 | 19580 |
Time Technoplast | Angel One | 438 | 550 |
Torrent Power | Angel One | 1953 | 2300 |
Vesuvius India Ltd | Angel One | 5780 | 6770 |
Adani Ports and Logistics | Share India | 1410 | 1850 |
Granuels | Share India | 608 | 770 |
HG Infra Engg Ltd | Share India | 1474 | 1880 |
Jindal SAW | Share India | 361 | 470 |
Lemontree | Share India | 127 | 165 |
Nippon india Asset Management | Share India | 697 | 850 |
Sharda Motor | Share India | 2143 | 2620 |
Tata Motor | Share India | 462 | 565 |
Yatharth | Share India | 636 | 795 |
Zen Technologies | Share India | 1910 | 2300 |
Anand Rathi

GEOJIT


Systematix

Aditya Birla Money

IDBI Capital

Prudent Broking


ASHIKA
