Top 10 Stocks to Buy in 2024 According to Leading Brokerages

1. Greenply Industries

Target Price: 295 INR, The building materials category, which includes wood panel (ply, laminates, and MDF), will be driven by the majority of residential real estate completed in the last two to three years, starting in CY24. Greenply stands to gain significantly from the same.

2. Cyient

Target Price: 3000 INR, Pressures from sustainability and an impending platform upgrade are setting the aerospace sector up for a decadal supercycle that will result in higher ER&D spending. Conversely, the rail segment is expected to experience moderate growth, mostly driven by software.

3. Kotak Mahindra Bank

Target Price: Not Predicted, The bank is performing well compared to its peers because it is witnessing robust credit demand in the retail sector and a sizable amount of its loan book is secured.

4. Paushak

Target Price: 9555 INR, Paushak is a dividend-paying company that is largely debt-free as it works on capacity expansion and technology advancement. The managements vision aligns closely with the idea of making India a self-sufficient manufacturer of specialized chemicals.

5. Wonderla Holidays

Target price: 1,137 INR, WHL is a safe bet in the discretionary category due to its attractive values of 14x/10x its FY25E/FY26E EV/EBIDTA, strong balance sheet despite significant capital expenditure, and double-digit profits visibility.

6. Pitti Engineering

Target Price: 915 INR per share, The stock is appealing at the present CMP, with a 14x 1-year forward consensus PE.

7. NMDC

Target Price: Rs 250, Over the seven years from FY14 to FY21, NMDCs production volume stayed constant at ~30–35 MT. However, the company is expected to reach ~46 MT in FY24 and surpass ~50 MT by FY25. A roughly 13% volume CAGR to 55 MT by FY26E has been factored in.

8. Eicher Motors

Target Price: 4550–4800 INR, Eicher will directly benefit from the industrys trend toward motorcycles with displacements of 125cc and beyond. Eicher will also make use of its Stark Future investment, which is intended to meet the expanding demand for EVs in the commercial vehicle market, in keeping with the growing EV demand.

9. The Indian Hume Pipe & Co. Ltd.

Target Price: 310 INR, The business has also provided updates on its numerous projects. Over the next five to six years, the companys land parcels and the realizations from them will help it become debt-free.

10. Nelcast

Target Price: 210 INR, They aim to include raising output, improving capacity utilization, improving Ebitda/kg, and lowering capital expenditure needs, all of which can help with debt servicing and improve return ratios in the future.