Hey there, savvy investors! If you’re ready to navigate the exciting world of the stock market and make your money work for you in 2024, you’ve come to the right place. In this article, we’ll delve into some of the best stocks to consider for 2024, providing you with insights that will help you make informed decisions and hopefully grow your investment portfolio.
Best Stocks To Invest in 2024
| S.No | Company Name | Market Cap (In ₹ crore) | Close Price (₹) | 5Y CAGR (%) |
| 1 | Adani Green Energy Ltd | 2,59,995.17 | 1,641.35 | 113.10 |
| 2 | Tanla Platforms Ltd | 14,110.89 | 1,049.45 | 99.93 |
| 3 | Tata Teleservices (Maharashtra) Limited | 17,574.80 | 89.90 | 87.30 |
| 4 | Rattanindia Enterprises Ltd | 11,343.99 | 82.15 | 86.92 |
| 5 | Fertilisers and Chemicals Travancore Limited | 53,228.14 | 812.60 | 82.75 |
Note: The list of the best stocks has been selected and sorted based on 5Y CAGR from the Nifty 500 universe as of January 24, 2024.
1. Adani Green Energy Limited
Adani Green Energy Limited, incorporated in 2015, is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities.
Key Metrics:
- ROE: 22.8%
- ROCE: 7.81%
- Profit Growth CAGR (5Y): 61%
2. Tanla Platforms Limited
Tanla Platforms Limited was formerly known as Tanla Solutions Limited. It is a telecom products and solutions company engaged in telecom infrastructure and related services business. During Q2 FY 2024, the company’s revenue rose 18.5% YoY to ₹10,086 million, and EBITDA stood at ₹1,968 Mn.
Key Metrics:
- ROE: 31.2%
- ROCE: 37.9%
- Profit Growth CAGR (5Y): 93%
3. Tata Teleservices (Maharashtra) Limited
Tata Teleservices (Maharashtra) Limited provides basic and cellular telecommunication services. It is engaged in wired and wireless telecommunications activities. The company’s portfolio of enterprise-grade solutions mainly includes Cloud-based solutions, Collaboration solutions, IoT, Data Management, and Cybersecurity solutions.
Key Metrics:
- ROE: –
- ROCE: 39.8%
- Profit Growth CAGR (5Y): 7%
4. Rattanindia Enterprises Ltd
RattanIndia Infrastructure Ltd is involved in providing consultancy to companies planning to venture into the business of generation, transmission and distribution of power or are in the process of setting up power generation plants. The company’s business segments include E-commerce, electric vehicle- revolt, fintech, and neosky drones.
Key Metrics:
- ROE: -7.39%
- ROCE: 3.12%
- Profit Growth CAGR (5Y): 14%
5. Fertilisers and Chemicals Travancore Limited
The Fertilisers and Chemicals Travancore Limited is involved in the manufacturing and marketing of fertilisers and petrochemicals, engineering consultancy, and design, fabrication and erection of industrial equipment. The company is controlled by the administrative control of the Department of Fertilizers, Ministry of Chemicals & Fertilizers, Government of India. During FY 2023, the company reported an installed capacity of 633,500 MT per annum for Factamfos (NP 20:20), 225,000 MT per annum for Ammonium Sulphate and 50,000 MT per annum for Caprolactam.
Key Metrics:
- ROE: 62.5%
- ROCE: 30.3%
- Profit Growth CAGR (5Y): 46%
Best Stocks To Invest in 2024 On Free Cash Flow (FCF) Basis
| S.No | Company Name | Market Cap (In ₹ crore) | Close Price (₹) | Free Cash Flow (In ₹ crore) |
| 1 | Life Insurance Corporation Of India Ltd | 5,73,803.79 | 907.20 | 53,632.04 |
| 2 | Oil and Natural Gas Corporation Ltd | 2,94,818.84 | 234.35 | 47,418.88 |
| 3 | Tata Consultancy Services Ltd | 13,89,996.86 | 3,841.80 | 38,865.00 |
| 4 | Bharti Airtel Ltd | 6,99,920.75 | 1,189.95 | 38,786.10 |
| 5 | Power Grid Corporation of India Ltd | 2,28,980.87 | 246.20 | 31,102.17 |
Note: The list of the best stocks has been selected and sorted based on FCF from the Nifty 500 universe as of January 24, 2024.
Best Stocks To Invest in 2024 On ROCE Basis
| S.No | Company Name | Market Cap (In ₹ crore) | Close Price (₹) | ROCE (%) |
| 1 | MMTC Ltd | 11,347.50 | 75.65 | 129.26 |
| 2 | Suzlon Energy Ltd | 56,025.19 | 41.20 | 117.36 |
| 3 | Hindustan Zinc Ltd | 1,31,513.05 | 311.25 | 86.72 |
| 4 | 56,046.06 | 17,265.80 | 80.86 | |
| 5 | Colgate-Palmolive (India) Ltd | 68,491.42 | 2,518.20 | 78.66 |
Note: The list of the best stocks has been selected and sorted based on ROCE from the Nifty 500 universe as of January 24, 2024.
Best Stocks To Invest in 2024 On ROE Basis
| S.No | Company Name | Market Cap (In ₹ crore) | Close Price (₹) | ROE (%) |
| 1 | MMTC Ltd | 11,347.50 | 75.65 | 247.266 |
| 2 | Tata Communications Ltd | 49,266.53 | 1,728.65 | 143.41 |
| 3 | Life Insurance Corporation Of India Ltd | 5,73,803.79 | 907.20 | 124.54 |
| 4 | Nestle India Ltd | 2,42,384.29 | 2,513.95 | 108.52 |
| 5 | Shoppers Stop Ltd | 7,839.95 | 713.05 | 82.28 |
Note: The list of the best stocks has been selected and sorted based on ROE from the Nifty 500 universe as of January 24, 2024.
Best Stocks To Invest in 2024 On Net Profit Margin Basis
| S.No | Company Name | Market Cap (In ₹ crore) | Close Price (₹) | Net Profit Margin (%) |
| 1 | Bajaj Holdings and Investment Ltd | 91,159.96 | 8,190.95 | 93.38 |
| 2 | IDFC Ltd | 18,447.82 | 115.30 | 90.31 |
| 3 | Tata Investment Corporation Ltd | 22,959.13 | 4,537.80 | 80.37 |
| 4 | Indian Energy Exchange Ltd | 12,164.63 | 136.80 | 62.76 |
| 5 | HDFC Asset Management Company Ltd | 73,347.77 | 3,435.75 | 57.33 |
Note: The list of the best stocks has been selected and sorted based on net profit margin from the Nifty 500 universe as of January 24, 2024.
Conclusion
Remember, investing always comes with risks, and it’s crucial to conduct thorough research and possibly consult with a financial advisor before making any decisions. Diversifying your portfolio across different sectors can also help mitigate risk. In conclusion, 2024 holds promise for investors willing to explore opportunities in dynamic sectors. To explore more investment opportunities, open a Demat account with Angel One, one of the leading stockbrokers in the country.
Disclaimer: This article is written for educational purposes only. The securities quoted are only examples and not recommendations.
