1. Buy these 6 stocks under Rs 100 this Diwali to gain up to 46%

Buy these 6 stocks under Rs 100 this Diwali to gain up to 46%

With a day to go for one of the biggest festivals of India -- Diwali, which signifies prosperity -- investors are looking for ideas to grow their wealth amid a booming stock market. We bring you six stocks under Rs 100 to buy this Diwali to gain up to 46%.

By: | Published: October 18, 2017 12:53 PM
Photo for representational purposes only. (Image: Reuters)

With a day to go for one of the biggest festivals of India — Diwali, which signifies prosperity — investors are looking for ideas to grow their wealth amid a booming stock market. Diwali is considered to be the most auspicious day for paying homage to wealth creation, as Lakshmi Puja is observed across India. Even stock markets also open for an hour in a special Muhurat trading window. Most of the people buy new clothes, automobiles, purchase properties, but this is also the time when one can think of something which may have a potential to grow the money. We bring you six stocks under Rs 100 to buy this Diwali to gain up to 46%.

CG Power & Industrial Solutions – IIFL

Shares of CG Power and Industrial Solutions have risen over 30% since January 2017 so far. The research and brokerage firm IIFL has recommended it to buy with an upside of 23.8% from its current market price of Rs 80 to a target price of Rs 99. CG Power and Industrial Solutions Limited is an electronic appliance maker engaged in management and application of electrical energy. “Product portfolio expansion, new BEE norms for motors, and increasing presence in railways would drive high growth in Industrial Systems. We forecast 15% earnings CAGR over FY17-20E vs 3% in FY15-17 for this segment,” according to IIFL.

National Aluminium Company – Edelweiss

Shares of National Aluminium Company have risen about 32% in 2017 so far. The research and brokerage firm Edelweiss has recommended it to buy with an upside of 46% from its current market price of Rs 82 to a target price of Rs 120. “National Aluminium Company has given a break out of its double bottom pattern on the monthly chart. The company is currently trading at a 52-week high, the stock has picked pace since aluminium prices surged internationally. We could see the stock touch Rs 120 by next year,” according to Edelweiss.

NCC – JM Financial

Shares of NCC have returned about 16% in the current calendar year so far. The research and brokerage firm JM Financial has given a further upside of 16% to a target price of Rs 104. NCC has bagged a landmark EPC project to construct 33,000 affordable houses from the government worth Rs 20 billion. NCC has a strong order book of Rs 220.09 billion and is expected to report steady earnings growth of 8-10% conservatively, according to JM Financial.

IDFC – Globe Capital Market

The stock of IDFC had returned about 17% in the nine-and-half-month period of this year so far. The research and brokerage firm Globe Capital Market has recommended it to buy with an upside of 22.7% from its current market price of Rs 66 to a target price of Rs 81. IDFC Ltd is an integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. The net profit for the first quarter of FY 2018 stood rose 65% to Rs 299 crores as compared to the corresponding quarter of the previous year.

Fedders Electric – Escorts Securities

Shares of Fedders Electric have returned about 32% from January 2017. The research and brokerage firm Escorts Securities has given an upside of 32% and 42% to the target prices of Rs 110 and 118 from its current market price of Rs 83 respectively. “Fedders electric and engineering Ltd is giving a breakout on daily charts. The breakout is supported by huge volume and strong RSI. Buy the stocks at a current level of Rs 83 (half the quantity) and add more on dip around Rs 75 with a stop-loss below Rs 65 for a price target of Rs 110-118,” according to Escorts Securities.

Jain Irrigation – JM Financial

Shares of Jain Irrigation have returned about 6% since January so far. The research and brokerage firm JM Financial has given an upside of 21% from its current market price of Rs 93 to a target price of Rs 113. “Strong monsoon, accelerated orders for MIS from Maharashtra, continued government thrust on use of MIS across other states, farm loan waiver in Maharashtra and other states, recapitalisation of debt at lower interest cost and improved outlook on international business should drive re-rating in our view, according to JM Financial.”

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