- Bank of India leads the list with a potential 26% upside due to strong asset quality and financial health.
- JK Lakshmi Cement benefits from a projected increase in demand, with a target price offering a 13.6% upside.
- NALCO is set to capitalize on rising aluminum prices, aiming for a 23.6% return with expanded alumina production capacity.
HDFC Securities has outlined its top 10 stock picks for Diwali 2024 Muhurat trading, targeting both short-term gains and longer-term potential.
Their list includes a variety of sectors such as banking, cement, and aluminum, reflecting opportunities across market segments.
HDFC Securities’ Festive Picks: Diwali 2024 Stock Recommendations
Meanwhile, NALCO is well-positioned to benefit from a strong recovery in aluminum prices and an increase in alumina refinery capacity. The brokerage expects this stock to deliver a 23.6% upside. These recommendations are part of a broader strategy designed to help investors navigate the high volatility expected in the year ahead while securing opportunities for growth.
JK Lakshmi Cement is also on the list, poised to gain from increased demand in the construction sector by the second half of FY25. This stock offers a 13.6% upside, supported by capacity expansions and a projected 15.7% growth in EBITDA. With infrastructure development on the rise, this cement manufacturer is positioned to benefit from favorable market conditions.
In the metals sector, NALCO emerges as a promising candidate with a 23.6% upside. The aluminum giant is likely to gain from a recovering global market, tight supply conditions, and ramped-up production at its Utkal mines. The company’s integration of alumina operations makes it one of the lowest-cost producers globally, providing a solid base for future growth.
These picks reflect HDFC Securities’ balanced approach, with exposure to both defensive and growth sectors. The brokerage’s strategy is designed to help investors navigate the market’s volatility while positioning their portfolios for strong performance over the next year. Key to this strategy is selecting stocks that offer a mix of stability and high growth potential.
HDFC Securities’ Diwali 2024 picks offer a diversified investment strategy, balancing market volatility with promising sector-specific opportunities. Investors can look forward to potentially strong returns with careful, targeted stock selections.
“Risk comes from not knowing what you’re doing.” — Warren Buffett
