Top 11 Stocks for Samvat 2081 with 15-20% Upside

“Muhurat Trading 2024: Way2Wealth Brokers, a subsidiary of Shriram Credit Company Ltd and part of the ‘Shriram’ Group, has crafted a list of top 11 stock picks for the upcoming festive session to offer potential returns in the current market.”

Muhurat Trading 2024: Samvat 2080 was a remarkable year for the Indian markets, with Nifty 50 reaching an all-time high of 26,277 and SENSEX hitting 85,978 on September 27, 2024. This growth was driven by optimism about the economy, healthy earnings from India Inc., FII equity inflows, the general election, and events like the cricket World Cup.

Over the past 12 months, the Nifty, Nifty Midcap 100, and Nifty Smallcap 100 indices have risen by 27%, 45%, and 42%, respectively. Despite geopolitical tensions affecting market performance, strong DII inflows and retail investor participation kept the market buoyant.

The total number of demat accounts exceeded the 171 million mark in August 2024, leading to SIP inflows reaching an all-time high. Domestic institutional investor (DII) flows totaled $40.8 billion over the first nine months of CY24, surpassing the full-year CY23 flows of $22.3 billion.

With the conclusion of a dynamic Samvat 2080, we now eagerly look forward to an equally thrilling Samvat 2081, which is packed with significant events that are sure to capture attention. One of these key happenings includes the upcoming US General Elections scheduled for November 2024. As the Federal Reserve has recently revealed its decision to cut rates and anticipates two additional cuts in CY24, all eyes are now focused on the RBI’s forthcoming rate cut announcement. This move could provide much-needed relief to both the banking and NBFC sectors that are currently grappling with tight liquidity conditions in their operations.

During FY24 and FY25, several prominent themes are expected to emerge within the Indian economy, including Power Infrastructure Expansion, Waste Water Management initiatives, a Strong Defence order book bolstered by increased spending, Railway infrastructure expansion projects aimed at modernization, the rollout of Telecom 5G technology to enhance connectivity, the Semi-conductor Production Linked Incentive (PLI) scheme to boost domestic manufacturing, as well as advancements in Solar and Wind power generation. These sectors collectively represent significant opportunities for growth and development in India’s economic landscape.

To capitalize on these opportunities, investors have heightened their exposure to players in the Mid Cap and Small Cap indices, resulting in a significant rise in valuations. Consequently, the relative underperformance of key indices like NIFTY 50 and SENSEX presents attractive entry points for large-cap companies that offer multiple growth levers and strong revenue visibility at current valuations.