Diwali 2024 Special: Top 10 Sensex Stocks to Watch!

With Diwali 2024 just around the corner, it is not only a season of joy but also a good time to make important financial decisions.

For many people, Diwali is considered to be an auspicious time to invest in the stock market, and this year, the Sensex seems to be filled with opportunities. With the market buzzing and new opportunities emerging, it’s a perfect moment to review some top-performing stocks.

In this article, we will highlight the 10 best Sensex stocks you could watch for Diwali 2024 for effective investment as well as wealth enhancement.

Top 10 Stocks to Watch for Diwali Muhurat Trading 2024

If you're wondering where to trade in this Muhurat trading 2024, here’s a list of the top 10 Sensex stocks that you can explore:

1. Reliance Industries

Reliance Industries is India's largest conglomerate, with a market cap of ₹18,32,260 crore. The company is a leader in the oil and gas sector, retail, telecom, and digital services.
 
While its traditional oil and gas business is growing steadily, Reliance is focusing on new areas like financial services and green energy for future growth.

With a net worth of ₹7,42,922 crore, up by 11.1% from ₹6,68,880 crore in FY23, RIL’s PAT stood at ₹79,020 crore in FY24. The company also reported a revenue of ₹10,00,122 crore, a YoY growth of 2.6% from ₹9,74,864 crore in the previous year.

2. Hindalco

As a top player in the aluminium and copper industry, Hindalco has benefited from the growing demand for metals in construction and manufacturing since 1958. As a flagship company of the Aditya Birla Group, Hindalco has a presence in 9 countries across the globe.

With India’s focus on industrial growth, Hindalco reported a consolidated EBITDA of ₹25,728 crore in FY24, a YoY growth of 7%. The company’s consolidated PAT also stood at ₹10,155 crore for FY2024.

3. HDFC Bank

Founded in 1977, HDFC Ltd. is a leading bank in the housing finance sector in India. The bank caters to both urban and rural India with its consistent & smooth delivery of home loans among other wide range of products and services.

HDFC recorded a consolidated PAT of ₹60,810 crore in FY24, with a YoY growth of 37.9%. The bank’s net revenues stood at ₹1,57,770 crore, compared to ₹1,18,060 crore in FY23. HDFC’s net interest income also grew by 25%, at ₹1,08,530 crore in FY24.

4. Havells

A leader in the Fast Moving Electrical Goods (FMEG) sector, Havells is a well-known name for electronic items in India. With a strong presence across the world, Havells has a solid distribution network and dominates the market of various products, such as wires and cables, home appliances, power capacitors, modular switches, and air conditioners to name a few.

With more than 950 exclusive brand stores spread throughout India, Havells has a strong domestic and commercial customer base. The company reported net revenue of ₹18,550 crore, PAT of ₹1,273 crore, EBITDA of ₹1,845 crore, and earnings per share of ₹20.32 in FY24.

5. TVS Motors Company

A well-known company in the two and three-wheeler sector, TVS Motors has been manufacturing two-wheelers and three-wheelers for over 100 years. With its world-class facilities in Nalagarh, Mysuru, and Hosur, as well as Kerawang in Indonesia, TVS aims to deliver the best products and customer experience. The company has a presence in 80 countries globally.

In FY24, the company’s revenue from operations stood at ₹31,776.37 crore, compared to ₹26,378.09 crore in the previous year. It also reported a PBT of ₹2,780.66 crore in FY24, up from ₹2,003.37 crore in FY23.

6. Marico

A renowned company in India’s consumer goods market, Marico is present in more than 25 countries across Africa and Asia. With leading brands in the hair care, edible oils, fabric care, healthy foods, and skin care categories, the company has 8 factories spread across India.

Some of Marico’s well-known brands include Saffola, Parachute, Kaya Youth, Set Wet, Livon, Medikar, and Beardo, among others. The company’s consolidated EBITDA stood at ₹2,026 crore in FY24, up by 12% from ₹1,810 crore in FY23. Marico also reported an EBITDA margin of 21% in FY24, up from 18.5% in the previous year.

7. Infosys

With over 40 years of service, 1882 active clients, and a presence in 56 countries, Infosys is a top player in the digital services & consulting sector. The company helps its clients with their digital transformation using AI and cloud.

With an aim to be an environmentally sustainable global company, Infosys reported a revenue of ₹1,53,670 crore in FY24, up from ₹1,46,767 crore in the previous year. The company’s net profit stood at ₹26,233 crore, compared to ₹24,095 crore in FY23.

8. Hindustan Unilever (HUL)

Hindustan Unilever Limited (HUL), a leader in the FMCG sector, has a strong portfolio of essential products and a vast distribution network, making it a household name in India. With over 50 brands like Dove, Horlicks, Lifebuoy, Close-Up, Surf Excel, Glow & Lovely, and Breeze, HUL has over 3500 distributors across India.

With a solid team of over 19,000 employees, HUL reported a standalone turnover of ₹59,579 crore, PAT of ₹10,114 crore, EBITDA margin of 23.8%, and EPS of ₹43.05 in FY24. As consumer demand rises and urbanisation continues, HUL is expected to perform steadily in the upcoming years.

9. Muthoot Finance

As India’s one of the largest gold loan providers, Muthoot has made its name in the wealth, insurance, and finance sectors in India. It offers services like gold loans, housing finance, personal loans, small business loans, insurance, SME loans, mutual funds, corporate business loans, and money transfers, among others.

With a legacy of 800 years, over 700 crore satisfied customers, more than 6,500 branches, and a net worth of ₹24,290.3 crore in FY24, Muthoot Finance reported a revenue of ₹12,694 crore, up from ₹10,543.7 crore in the previous year.
The company’s PAT stood at ₹4,049.7 crore, compared to ₹3,473.5 crore in FY23. Muthoot Finance also recorded an EPS of ₹100.88 in FY24.

10. Mahindra & Mahindra

Founded by JC and KC Mahindra in 1945, Mahindra & Mahindra (M&M) is a leader in the automotive, technology services, and farm equipment sectors. The company is also prominent in renewable energy, financial services, real estate, hospitality, and logistics sectors in India.

With a presence in over 100 countries, M&M is a leading IT services provider. In the financial year 2023-24, Mahindra & Mahindra reported a consolidated income from operations of ₹1,39,078 crore, a YoY growth of 15%. The company also recorded a consolidated PAT of ₹11,269 crore, up by 10% from FY23.

Conclusion

In this Diwali season, these top Sensex stocks offer a great opportunity to grow your wealth. Each stock brings something unique, from stability in banking to innovation in IT and healthcare. Whether you're looking for long-term gains or short-term returns, these picks can help light up your investment portfolio. Celebrate the festival of lights and consider making smart investment choices to secure a brighter financial future.

*Disclaimer: The stocks, companies, and policies discussed above aren't recommendations from Finology Insider but guest content and shall not be construed as a replacement for professional advice. Consult a professional or conduct the necessary research before making investment decisions.