Top 10 Best Stocks to invest in 2024 for a year
Make your investment in stocks for a year to get up to 25% profit per share
Best Stocks to invest: The Indian stock market is known for its strength and steady growth while rest of the international share markets are not performing well. In this article we will know the top 10 best stocks to invest in 2024. As per IMF and internal rating forums, India will boost to achieve highest growth in the economy. To increase ease of business and easily start a startup, the Government of India has taken many steps, the result of which we may see in the coming year i.e. 2024. If we talk about 2024, investors are already expecting lower inflation, Fed pivot.
High growth in auto sector shares like Maruti, Hero MotoCorp and Bajaj Auto –
The auto sector of the Indian Stock market has shown high growth in recent years. The capability to buy expensive vehicles is increasing year on year. Maruti, Hero MotoCorp, Bajaj Auto have strong fundamentals. The PE ratio of the stocks shows that buying these shares for a long term may yield you good profits.
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Dollar Industries –
Investors have shown good interest in the stock. The stock is moving in a range of 425 to 625. Seeing the present levels the stock may move to 630 levels in 2024. The stock presently has a P/E ratio of 19.87. Investors may add this share in their portfolio and fetch good profits.
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Rallis India
The agrochemicals sector has grown very rapidly in recent years. The company Rallies India which is a Tata Group company is expected to do very well. Presently the share is ranging between 180 – 280 levels. The share may achieve 325 levels in 2024.
Ujjivan Small Finance Bank
The banking sector will no doubt have immense growth in 2024 as the government policies have created a safe environment for banks. The Ujjivan Small Finance Bank is growing very rapidly. The Ujjivan Share has gained almost 100% in 2022. The stock is ranging between 18 – 25 per share. The stock may see levels of Rs. 45 in 2024.
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SBI –
State bank of India is the first choice of investors when it comes to investing in banking shares. The government bank has shown steady growth over the years. The stock is presently ranging between 500- 600 per share. SBI Share presently has a P/E ratio of 13.18. We see the stock to reach levels of Rs. 800/- per share in year 2024.
Ultratech –
The renowned company in the cement sector, Ultratech is a stock to rely on in 2024. The stock has a high P/E ratio of 29.84 presently. The Stock may reach levels of 8500/- per share in the coming year. The Indian cement industry has achieved remarkable growth in international markets. It will benefit the strong companies in the sector.
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KEC International –
The company has crafted the way to achieve high growth in the coming years. The company has achieved more than 13% YoY growth in revenue. The KEC International share has shown steady and positive growth since inception. The share may move to levels of 540 in 2024. Presently the share is trading at 414 per share. The stock has a P/E ratio of 36.54 which is very high.
We recommend you to invest in stocks after doing thorough research and as per the risk appetite of your portfolio. Other than the above share you can also invest in green energy sector and mining sectors to get good return in 2024.
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