Nirmal Bang's Top Diwali 2024 Investment Picks

Photo Credit: NDTV Profit Here are the top investment picks from Nirmal Bang for Diwali Prajwal Jayaraj Updated On 11:20 PM IST, 28 Oct 2024

Archean Chemical Industries

Target price: Rs 823. Upside: 28%. The brokerage expects healthy contribution from bromine derivatives, oil & gas and drilling business in FY25. Photo Credit: Company [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Fineotex Chemical

Target price: Rs 483 Upside: 20% The brokerage said that the firm outperformed in the overall industry in terms of volumes and profitability Photo Credit: Representative/Envato [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Five Star Business Finance

Target price: Rs 1,165 Upside: 34%. The brokerage recommends ‘Buy’ with a target of Rs. 1165 at 4x Sep 2026 BVPS at 10% premium to fair multiple for Home First on the back of higher return ratios of Five Star Photo Credit: Representative/Envato [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Garware HiTech Films

Target price: Rs 4,800 Upside: 24% According to the brokerage, Garware Hi-Tech Films' valuation of 24x its FY2026E EPS looks attractive for investment, in light of strong growth prospects and high cash. Photo Credit: Company [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Jyoti Resins & Adhesives

Target price: Rs 1,786 Upside: 21% The brokerage said that the firm has been delivering healthy financials for the past five years where it has delivered growth of 113% CAGR in revenue. Photo Credit: Representative/Envato [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

L&T Technology Services

Target price: Rs 6,223 Upside: 18% The brokerage expects the firm to report strong numbers in the coming quarters on the back of increased traction in the engineering R&D space. Photo Credit: Company [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Macpower CNC Machines

Target price: Rs 1,800 Upside: 48% Over next seven years, the brokerage anticipates the firm's growth at 25% CAGR and expects capacity to reach 8k machines. Photo Credit: Company [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

REC Ltd.

Target price: Rs 776 Upside: 47% The brokerage anticipates the firm for achieving AUM of Rs. 6 lakh crore by March 2025 translating to growth of 17% for FY25E. Photo Credit: Representative/ Envato [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Sai Silk (Kalamandir)

Target price: Rs 281 Upside: 69% With growth and margins coming back, the brokerage said that the stock is available at attractive valuation and is trading at EV/EBITDA of 8.3x FY26E Ebitda Photo Credit: Representative/Envato [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]

Transformers & Rectifiers

Target price: Rs 1,070 Upside: 31% The brokerage expects the firm to increase its profit by 3x/10x at a CAGR of 49%/122% over FY24-27E. Photo Credit: Representative/Envato [{ "selector": ".story-desp_p", "duration": "1.2s", "easing": "ease-in-out", "keyframes": [{ "opacity": 0 }, { "opacity": 1 }, { "opacity": 1 } ] }, { "selector": ".substory_h1", "duration": "0.75s", "easing": "linear", "keyframes": [{ "transform": "translateY(40px)", "opacity": 0 }, { "transform": "translateY(0px)", "opacity": 1 }, { "transform": "translateX(0)", "opacity": 1 } ] } ]