StoxBox presents its latest insights with the Techno Funda: Super 7 Picks September 2024, as the markets continue to evolve. This thoughtfully curated list of stocks combines strong fundamentals and promising technical indicators, providing growth opportunities across different sectors. From cement to technology and energy, these stocks are poised to capitalize on market momentum and offer strategic entry points for investors.
1) ACC Cement
– StoxBox recommends buying ACC Ltd. at ₹2490, targeting ₹2700 with a stop loss at ₹2400. The stock is rebounding from a demand zone and has regained key moving averages. With a 32% capacity expansion and new limestone reserves, ACC is well-positioned to benefit from rising demand in housing and infrastructure.
2) BPCL
– BPCL is advised to buy at ₹337, targeting ₹366 with a stop loss at ₹325. As India’s second-largest OMC, BPCL has a strong marketing segment despite a Q1 FY25 profit decline. With a planned ₹16,400 crore investment for expansion, it is well-positioned for future growth.
3) Britannia Industries
– StoxBox suggest buying Britannia at ₹6000, with a target of ₹6450 and a stop loss at ₹5857. Britannia holds over one-third of the Indian biscuit market, showing a 9% compound annual growth rate (CAGR) over the past decade. With a robust distribution network and strong Q1 FY25 revenue growth, the stock exhibits positive price action and a bullish breakout pattern, making it a solid short-term buy.
4) HCL Technologies
– The HCL technology stock is at CMP ₹1795, targeting ₹1940 with a stop loss at ₹1741. The company expects 3-5% CC growth for FY25, with a recovery starting from Q2, driven by improved performance across verticals and geographies. Despite recent challenges, including the State Street JV divestiture, HCL Tech’s strong pipeline and long-term contracts position it well for future growth. The favorable demand environment will likely reduce uncertainty over discretionary spending, enhancing its financial performance.
5) Indian Hotels Co. Ltd
– Indian Hotels Co. Ltd. (IHCL) is advised to buy at ₹684 with a short-term target of ₹740 and a stop loss at ₹661. The stock has been experiencing accumulation at elevated levels and its RSI is well above the median, reflecting strong price momentum. IHCL shows improving relative strength compared to the Nifty 50, making it a promising short-term investment.
6) Indian Oil Corporation
– Indian Oil Corporation (IOC) has been advised to buy at ₹170, with a target of ₹183 and a stop loss at ₹164. Despite weak GRMs due to refinery shutdowns, a recent drop in crude prices is expected to drive recovery. With strong capital investments and future expansions, IOC is well-positioned for growth.
7) NTPC
– The StoxBox team has recommended purchasing the NTPC stock at the current market price of ₹407, with a target price of ₹439 and a stop loss at ₹395. NTPC is India’s largest power producer and holds a significant share of the country’s power capacity, positioning it well to benefit from increasing demand. The company plans to increase its capacity to over 130 GW by 2032 and has shown strong Q1 FY25 results, with an 11% year-over-year PAT growth to ₹4,511 crores. NTPC’s focus on renewable energy and low-cost debt further enhances its investment appeal.
StoxBox’s Super 7 Picks offer strong potential. Enhance your portfolio, and remember to research and assess your risk.