Stocks To Buy This Diwali 2024 - IndiGo, M&M, Power Grid Among Top Six Stocks Recommended By Anand Rathi

Anand Rathi Report

Here are the stock recommeded by the us to Buy this Diwali

Interglobe Aviation (potential Upside: 17%)

IndiGo as India’s leading airline has a market share of 62% as of FY24 with 18% of market share in international passenger segment. It served ~28 million customers in Q1 FY25. Huge investments by government in construction of airports, UDAN scheme and increase in number of passenger are some of the growth triggers for aviation industry going forward.

Mahindra and Mahindra (potential Upside: 15%)

M&M has been the dominant market leader in the domestic tractor market, commanding a market share of 42% in FY24.

It aims to launch new models across ICE and EV in auto division. On the back of strong order backlog for UV’s, new launches in ICE and EV’s and a leadership position in tractors.

We believe that company will leverage its operational performance achieving strong volume growth in FY25 for both the division.

Power Grid Corporation of India (potential upside 16%)

Power Grid stands to benefit significantly from India’s goal to expand its Renewable Energy capacity to 500 giga watt by 2030.

In Q1, they became L1 bidders for three ISTS TBCB projects worth Rs 41,720 million, including Rajasthan RE Power projects in Jaisalmer and Barmer (Phase IV, Part B and D) and the Fatehpur-Badla HVDC project (Phase III, Part I).

The company revised its FY24 capex plan to Rs 1,80,000 million, up from Rs 1,50,000 million. For FY25, Rs 50,000 million is allocated for RTM and Rs 1,30,000 million for other projects.

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