There are indications that the Indian economy may advance in the new year. But there are indications that the upcoming general elections in 2024 could lead to higher volatility in the markets. Leading brokerages are suggesting some stocks to pick in Samvat 2080
A stock pointed out by wealth management company Ananth Rathi
1. DLF :
Target Price: Rs.640
DLF is entering the Mumbai market with its slum redevelopment project in Andheri West. The project is a joint venture with Trident Group. DLF is investing Rs 400 crore for 51 per cent stake. Upcoming launches in FY2024 and strong demand are expected to have a positive impact on the stock.
Two stocks Sharekhan points out
2. Bank of India
Management has guided for a strong cash recovery of Rs 7,233 crore in FY2023 and Rs 12,000 crore in FY24. On the back of rising loan growth, stable margins and low cost of borrowing, the bank’s return ratio is likely to improve in the coming quarters. Share Khan indicates that the value of the bank will rise.
3. Jyoti Labs
Target Price: Rs.440
The overall return profile of the company has been elevated. Sharekhan points out that the company can expect up to 23 percent upside in annual growth. It is currently trading at 416. This small cap stock is attractive due to its excellent earnings growth and return profile.