As the vibrant lights of Diwali fill the air with joy, the stock markets are ready to shine too! The much-awaited Muhurat Trading 2024 session is just around the corner. This special hour of trading isn’t only about numbers and investments. It’s about tradition, prosperity, and starting the Hindu New Year with a winning portfolio.
Every year, both seasoned investors and newcomers eagerly look forward to this moment. It is believed that trades made during Muhurat bring good fortune and financial success. This year, Muhurat Trading 2024 will take place on 1st November at 6:15 – 7:15 PM. It could be your chance to pick stocks that will brighten your portfolio in the year ahead.
To make the festive even more special, we’ve curated some exciting Diwali stock picks for you. From growth stocks with high potential to stable value picks, these ideas could add that extra sparkle to your investments. Get ready to approach the market with confidence. This Diwali, let your money work smarter, and your portfolio shine brighter!
Also read Muhurat Trading 2024: A Short Window for Long-Term Gains.
The Story Behind Muhurat Trading: A Tradition of Wealth and Prosperity
Muhurat Trading is more than just a session on the stock market; it’s a tradition steeped in cultural significance. It originated decades ago, primarily among the Gujarati and Marwari communities, who believed that starting the Hindu New Year with investments during an auspicious time would bring prosperity. “Muhurat” refers to this lucky moment, marking a fresh financial beginning with hopes for success.
Over time, this symbolic hour of trading has grown into a nationwide celebration. It’s a time when investors, both new and experienced, come together to embrace a shared belief in good fortune, and prosperity, and set the stage for a prosperous financial year ahead.
Also, explore Multi-Bagger Stocks – Stocks that gave 1000%+ Returns in 1 Year
Diwali Stock Picks – Muhurat Trading 2024
Diwali 2024 Stock Picks: According to HDFC Securities, the Nifty 50 has surged by around 28% since last Diwali. Some of the best stocks for Muhurat Trading 2024 are:
JK Lakshmi Cement Ltd, Jyothy Labs Ltd, Tata Technologies Ltd, Hindustan Zinc Ltd, IRB Infrastructure Developers Ltd, Power Grid Corporation of India Ltd, Jindal Steel & Power Ltd, Gravita India Ltd, Eco Recycling Ltd, Asian Paints Ltd, Nava Ltd, Ircon International Ltd.
Let’s Explore a few facts about some of these stocks
JK Lakshmi Cement Ltd
JK Lakshmi Cement Ltd. was established in 1938. It’s a mid-cap company in the cement industry, with a market cap of Rs 9,688.36 crore. The stock has moved between a high of Rs 999.90 and a low of Rs 649.55 in the past year.
The stock has a PE ratio of 20.90 and a Price-to-Book ratio of 2.83.
In the quarter ending June 30, 2024, the company reported a total income of Rs 1,576.96 crore. This marks a 12.74% decline from the previous quarter’s income of Rs 1,807.15 crore. The company’s net profit for the period was Rs 65 crore.
The Return on Equity (ROE) is a solid 14.80%, while the Return on Capital Employed (ROCE) is a healthy 15.57%.
Hindustan Zinc Ltd
Hindustan Zinc Ltd. was founded in 1966. It’s a large-cap company in the non-ferrous metals sector, with a market cap of Rs 214,012.41 crore. The stock has moved between a high of Rs 808 and a low of Rs 285 in the past year.
The stock has a PE ratio of 26.38 and a Price-to-Book ratio of 14.13.
For the quarter ending June 30, 2024, the company posted a total income of Rs 8,398 crore. This is a 7.36% increase from the previous quarter’s income of Rs 7,822 crore. The company also reported a net profit of Rs 2,345 crore for the same period.
The Return on Equity (ROE) is an impressive 51.06%, while the Return on Capital Employed (ROCE) stands at a strong 48.85%.
Jindal Steel & Power Ltd
Jindal Steel & Power Ltd. was founded in 1979. It’s a large-cap company in the ferrous metals sector, with a market cap of Rs 98,387.50 crore. The stock has ranged between a high of Rs 1,097.00 and a low of Rs 581.60 over the past year.
The stock has a PE ratio of 16.97 and a Price-to-Book ratio of 2.08.
For the quarter ending June 30, 2024, the company reported a total income of Rs 13,652.33 crore. This marks a small increase of 0.97% from the previous quarter’s income of Rs 13,521.31 crore. The net profit for the same period was Rs 1,337.92 crore.
The Return on Equity (ROE) is a decent 13.40%, while the Return on Capital Employed (ROCE) is a modest 12.01%.
Eco Recycling Ltd
Eco Recycling Ltd. was founded in 1994. It’s a small-cap company in the engineering sector, with a market cap of Rs 1,833.00 crore. Over the last year, the stock has traded between a high of Rs 1,215.10 and a low of Rs 236.55.
The stock has a PE ratio of 87.55 and a Price-to-Book ratio of 27.33.
For the quarter ending June 30, 2024, the company reported a total income of Rs 13.44 crore. This is a 75.46% increase from the previous quarter’s income of Rs 7.66 crore. The company posted a net profit of Rs 8.15 crore for the same period.
The Return on Equity (ROE) is a strong 27.86%, and the Return on Capital Employed (ROCE) is an impressive 30.66%.
Ircon International Ltd
Ircon International Ltd. was founded in 1976. It’s a mid-cap company in the construction sector, with a market cap of Rs 20,886.03 crore. Over the last year, the stock has reached a high of Rs 351.60 and a low of Rs 127.25.
The stock has a PE ratio of 21.62 and a Price-to-Book ratio of 3.54.
For the quarter ending June 30, 2024, the company reported a total income of Rs 2,385.30 crore, showing a 38.75% decrease from the previous quarter’s income of Rs 3,894.05 crore. The net profit for the same period was Rs 215.28 crore.
The Return on Equity (ROE) is a solid 15.83%, while the Return on Capital Employed (ROCE) stands at a stable 13.20%.
Discover the Best stocks under 300 – Affordable options for Middle-Income Group
Bottom Line
This Muhurat Trading 2024, offers a prime opportunity to enhance your portfolio with these compelling stock picks. With strong performance metrics and growth potential, these investments can help you strategically position yourself for the upcoming year. Make informed decisions this festive season and seize the chance to maximize your returns! Let the festivities inspire smart investments that could brighten your financial future!
That’s all for today’s post
Happy Diwali🪔🎇!!
Disclaimer
The blog is meant for informational purposes and serves as a general analysis of stocks. The contents provided here are based on careful research and analysis utilizing fundamental and technical indicators over time. The post does not contain any direct recommendations about Investing or trading in the securities market. Thorough research and careful consideration are necessary for individuals to fulfil their responsibility in making financial decisions. Seeking professional advice before making any financial decisions is always advisable.
