The full-service stock broker Anand Rathi is all set for Diwali 2024. The brokerage has selected a pack of stocks to invest in Samvat 2081. The brokerage firm has picked five stocks to lighten up Samvat 2081. Here are the top picks of Anand Rathi:
Interglobe Aviation
InterGlobe Aviation, known as IndiGo, is India’s leading airline, functioning as a budget carrier. IndiGo had a market share of 62% as of FY24 with 18% of the market share in the international passenger segment. It served 28 million customers in Q1 FY25 and has become the seventh-largest airline in terms of daily departure. IndiGo continues to focus on expansion with 30 new routes added YoY, flying to more than 540 routes. In Q1 FY25, the company operated 382 aircraft as compared to 316 aircraft in Q1 FY24. IndiGo recently announced ‘IndiGoStretch’ – a tailor-made business product on the busiest business routes of the country, redefining business travel in India and also launched its much-awaited loyalty program, ‘IndiGo BluChip’, designed to reward its unwavering loyal customers with BluChips on IndiGo flights. Management also guided double-digit growth in FY25.
The Indian government is investing Rs 1 trillion to develop greenfield and brownfield airports, boosting their capacity and enhancing the passenger experience. The number of airports is set to grow from 140 in CY19 to 220 in the coming years with tier-2 and -3 cities providing the opportunities. The introduction of projects like UDAN and the ongoing construction of greenfield airports in India (construction to be completed in 10-15 years) is expected to increase the potential opportunity for the aviation industry. The aviation industry has emerged as one of the fastest-growing industries and IndiGo being the largest airline company in India has the highest market share and expects this trend to continue going forward. We assign a “Buy” rating on the stock with a target price of Rs 5,300 per share.
Power Grid Corporation of India
Power Grid Corporation of India is a leading transmission company, recognized globally, with the Government of India holding a 51.3% stake. Established in 1989, PowerGrid develops extra-high voltage AC and high-voltage DC transmission lines, transferring electricity from central generating units and surplus regions to load centres across various areas. The company will be a huge beneficiary of India’s ambition to grow its renewable energy capacity to 500 GW by 2030.
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