Share Market

Top 10 Stocks to invest in 2024 Under 200 Rs.

Posted By: Admin
December 17, 2023 |

Undervalued shares 2024, Buy multi bagger stocks below Rs. 200, Top 10 Stocks to buy for short term

Top 10 Stocks 2024 – In the dynamic world of stock market investments, finding promising stocks that won’t drain your wallet is a quest every investor embarks on. Let’s unveil a carefully selected list of the top 10 stocks 2024 to consider for your investment portfolio in 2024, each priced under 200 Rs. These stocks are not only affordable but also show strong potential for growth, making them attractive options for investors looking to make strategic and budget-friendly choices.

Since stock market beginners and most of the investors do not have big pockets to invest in stock market. This restricts them to invest in large cap shares in India. However, we have found some best multi bagger penny stocks 2024 to invest which can be a solution to you. It is a reality that many investors buy shares which are overvalued stocks due to hype created by media and news websites.

Though, everybody should invest in shares after deep research about the company and statistics. But, there are some stocks which are presently trading at low price even after having strong financials and reputation due to less investors or coverage in media. These undervalued stocks are best top 10 stocks to invest in 2024 under 200 Rs.

Here in this article we will see about top 10 stocks to invest in 2024 under 200 Rs. which are undervalued shares and can perform well in the short term.

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Why to buy undervalued stocks in India 2024?

There are numerous reasons why you should invest in top 10 stocks below Rs. 200. which you can read below –

You should invest in Undervalued stocks in 2024 as these may attain their intrinsic value which will fetch you good return in the short term.
Comparatively less prices to buy good stocks with good financials and high reputation of well-established companies.
High investment volume may help these stocks to outperform in less time.
Low risk high return shares to invest.

List of top 10 Best stocks to buy under Rs 200

1. Indian Oil Corporation Ltd, (Top 10 stocks 2024)

Indian Oil Corporation Limited is an Indian oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. It is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas.

The present price of the share is ranging between 120-125 Rs. per share. The P/E ratio of the share is 4.40 and dividend yield is 5.25%. You may invest in this share at the level of Rs. 118 with a target of Rs. 149-156 per share.

Indian Oil Corporation Ltd (IOCL) boasted strong financials, including consistent revenue growth, robust earnings, and positive cash flow. The company’s diverse operations in refining, pipeline transportation, and marketing of petroleum products contributed to its financial stability. IOCL’s profitability is closely tied to global oil prices, which can impact its margins.

It’s advisable to scrutinize the company’s quarterly and annual reports for detailed financial information. Investors appreciated IOCL’s historically reliable dividends, providing an additional income stream.

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2. Tata Steel Ltd, Best Stocks Under 200, Top 10 Stocks 2024

Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.

Tata Steel Limited exhibits promising share prospects driven by robust financials. With a diversified global presence, the company benefits from strong demand in key markets. Tata Steel’s financials showcased steady revenue growth, operational efficiency, and prudent cost management. The company’s focus on innovation and sustainability positions it well in the evolving steel industry.

The present price of the share is ranging between 130-135 Rs. per share. The dividend yield is 2.64%. You may invest in this share at the level of Rs. 117-119 with a target of Rs. 165-170 per share.

3. Bharat Electronics Ltd, Best Stocks Under 200, Top 10 Stocks 2024

Bharat Electronics Limited is an Indian Government-owned aerospace and defence electronics company. It primarily manufactures advanced electronic products for ground and aerospace applications. BEL is one of sixteen PSUs under the Ministry of Defence of India.

Bharat Electronics Limited (BEL) exhibits promising share prospects backed by robust financials. The company, a key player in defense electronics, has consistently shown revenue growth, indicating strong market demand. Its stable financial performance is evident in a healthy profit margin and a low debt-to-equity ratio, reflecting financial prudence.

With a solid order book and government support for defense modernization, BEL is well-positioned for sustained growth. Additionally, the company’s focus on R&D and technological innovation enhances its competitive edge. Overall, BEL’s sound financials and strategic positioning in the defense sector make it a favorable choice for investors.

The present price of the share is ranging between 165-169 Rs. per share. The P/E ratio of the share is 37.26. You may invest in this share at the level of Rs. 150-156 with a target of Rs. 192-195 per share.

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4. Housing and Urban Development Corporation Ltd., Best Stocks Under 200, Top 10 Stocks 2024

The Housing and Urban Development Corporation Limited, abbreviated as HUDCO, is an Indian public sector undertaking engaged in housing finance and infrastructure project finance.

Housing and Urban Development Corporation Limited (HUDCO) shows promising share prospects due to its pivotal role in India’s urban infrastructure development. With a robust financial performance, HUDCO has demonstrated steady revenue growth and sound profitability.

The company’s financials reflected a healthy balance sheet, efficient asset management, and strong liquidity. Investors may find potential in HUDCO’s consistent track record in financing housing and urban infrastructure projects, aligning with India’s focus on urbanization.

The present price of the share is ranging between 110-111 Rs. per share. The P/E ratio of the share is 12.45. You may invest in this share at the level of Rs. 105-106 with a target of Rs. 135-140 per share.

5. IDFC First Bank, Best Stocks Under 200, Top 10 Stocks 2024

The IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution.

IDFC FIRST Bank exhibits promising share prospects, supported by its robust financial performance. The bank’s strategic focus on retail banking, digital initiatives, and diversified loan portfolio contributes to its growth. The bank is reporting a steady rise in net interest income (NII) and a reduction in non-performing assets (NPAs). Moreover, its capital adequacy ratio remains healthy, ensuring stability.

Continued efforts to expand its customer base and digital offerings position IDFC FIRST Bank favorably in the evolving banking landscape, suggesting positive share potential.

The present price of the share is ranging between 89-90 Rs. per share. The P/E ratio of the share is 20.35. You may invest in this share at the level of Rs. 86 – 87 with a target of Rs. 111-115 per share.

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6. NLC India Ltd., Best Stocks Under 200

NLC India Limited is a central public sector undertaking under the administrative control of the Ministry of Coal, Government of India. It produces about 30 million tonnes of Lignite from opencast mines at Neyveli in the state of Tamil Nadu with a 1200 MW captive thermal power plant.

NLC India Ltd. appears to have promising share prospects based on its financial performance. The company’s revenue and profit trends, have shown stability and growth. NLC India, being a major player in the power generation and mining sector, benefits from a diversified business portfolio.

Its consistent operational efficiency and focus on renewable energy sources position it well in the evolving energy landscape. Huge interest of investors has shown surge in the share in recent days.

The present price of the share is ranging between 195-198 Rs. per share. The P/E ratio of the share is 15.62. You may invest in this share at the level of Rs. 192-193 with a target of Rs. 240-245 per share.

7. Rail Vikas Nigam Ltd, Stocks under 200, share best to buy below 200

Rail Vikas Nigam Limited is a Category-I Mini-Ratna CPSE under the Ministry of Railways. It was incorporated in 2003 to meet the country’s surging infrastructural requirements and to implement projects on a fast-track basis.

Rail Vikas Nigam Ltd (RVNL) is positioned well for growth due to India’s increasing focus on railway infrastructure. The company has a strong order book, indicating a robust project pipeline. RVNL’s financials show consistent revenue growth, with a CAGR of over 10% in recent years.

Profit margins have improved, reflecting operational efficiency. The debt-to-equity ratio is manageable, indicating prudent financial management. The government’s continued investment in railway development further supports RVNL’s outlook.

However, risks include project delays and macroeconomic factors. Overall, RVNL presents a promising investment opportunity, aligned with India’s infrastructure push, but investors should monitor project execution and external economic conditions closely.

The present price of the share is ranging between 180-181 Rs. per share. The P/E ratio of the share is 27.22. You may invest in this share at the level of Rs. 165-174 with a target of Rs. 200-205 per share.

8. CESC Ltd – Top Stocks Under Rs 200, Top 10 stocks in India

The Calcutta Electric Supply Corporation is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group, born from the erstwhile RPG Group, under the chairmanship of businessman Sanjiv Goenka.

CESC Ltd, an Indian power utility company, displayed stable financials. With a diversified business model encompassing power generation and distribution, its revenue streams exhibited resilience. We advice investors to closely monitor the company’s financial health, including factors like debt levels, profit margins, and return on equity.

The present price of the share is ranging between 110-112 Rs. per share. The P/E ratio of the share is 11.19. You may invest in this share at the level of Rs. 100 with a target of Rs. 130-135 per share.

9. NATIONALUM

National Aluminium Company Limited is a government company having integrated and diversified operations in mining, metal and power under the ownership of the Ministry of Mines and Government of India. Presently, the Government of India holds a 51.5% equity in NALCO.

The present price of the share is ranging between 105-110 Rs. per share. The P/E ratio of the share is 15.58. You may invest in this share at the level of Rs. 105-106 with a target of Rs. 126-135 per share.

10. Equitas Small Finance Bank Ltd

Equitas Small Finance Bank is a small finance bank founded in 2016 as a microfinance lender. The bank has its headquarters in Chennai, and is a subsidiary of holding company Equitas Holdings Ltd.

Equitas Small Finance Bank Ltd’s share prospects appear positive due to its focus on financial inclusion and the growing demand for banking services in untapped markets. The bank’s robust financial performance supports this outlook, with steady revenue growth, improving asset quality, and a strong capital adequacy ratio.

The present price of the share is ranging between 90-95 Rs. per share. The P/E ratio of the share is 16.76. You may invest in this share at the level of Rs. 90-92 with a target of Rs. 120-126 per share.

Disclaimer:

Conduct a thorough analysis, taking into account current market conditions, to make well-informed investment decisions. This blog is for educational purpose only.