StoxBox’s Top Investment Picks for November 2024

StoxBox’s Top Investment Picks for November 2024

StoxBox’s Top Investment Picks for November 2024

StoxBox, a well-regarded brokerage in India, has announced its top investment picks for November 2024, spotlighting companies with strong fundamentals and growth potential in today’s complex economic landscape. This month’s list includes four stocks that offer stability and promising returns. Whether you’re a new or experienced investor, these picks by StoxBox could help you achieve your financial goals with balanced growth and value opportunities.

1) Maruti Suzuki India Ltd. (MSIL)

• Buy Recommendation: StoxBox recommends buying Maruti Suzuki at its current market price, with a target range of ₹11,666 to ₹12,000.
• Mixed Q2 Performance: The company reported a 0.2% YoY increase in revenue to ₹35,589.1 crore, though it missed market expectations. Domestic sales decreased by 3.9% YoY, while exports grew by 12.1%.
• Growth Outlook: Despite a 17.4% decline in PAT due to higher discounts and commodity costs, Maruti Suzuki remains optimistic about festive sales, reporting a 14% YoY growth in retail sales. It is expanding its EV and CNG offerings, including export plans to Japan.

2) Godrej Agrovet

• Buy Recommendation: Advised to buy at ₹715 with a target price of ₹750.
• Q2FY25 Steady Performance: Revenue was reported at ₹2,448.8 crore, a decline of 4.8% YoY, while EBITDA rose 10.9% YoY to ₹223.4 crore due to margin improvements.
• Segmental Strength: Although net profit declined by 7.8% YoY to ₹95.8 crore, the Animal Feed and Oil Palm segments experienced margin gains, and the Dairy segment grew by 3% YoY. A stronger second half of FY25 is expected, leading to a cautiously optimistic outlook.

3) GHCL :Industrial Salt, Soda Ash Manufacturer India

• Buy Recommendation: Suggested buying within the ₹596-610 range, with an upside target of ₹660-680.
• Domestic Demand Resilience: Despite headwinds in the global soda ash market, domestic demand remains strong, driven by increased solar glass production.
• Future Growth Investment: GHCL is making a ₹200-250 crore investment in greenfield projects, projected to contribute to earnings growth from FY26 onward.

4) Chalet Hotels

• Buy Recommendation: Recommended at approximately ₹867, with an upside target of ₹905.
• Q2FY25 Growth: The company reported a 20% YoY increase in total income to ₹377 crore, led by 18% growth in hospitality revenue. The occupancy rate stayed robust at 74%.
• Expansion and Development: EBITDA grew by 19% YoY to ₹149.5 crore. New projects, including Bengaluru Marriott Whitefield and Dukes Retreat Lonavala, are on track for Q3 FY25 completion, with further developments planned in Delhi and Navi Mumbai by FY27.