The government is going to present its 2024 budget. Since the budget has been announced, growth is being seen in many sectors. Talking about the market, the market is booming. If we look closely, almost all sectors are booming. As a result, an uptrend is noticeable in all stocks. In such a situation, it becomes very difficult to find stocks that are profitable and can provide us with good returns. With the upcoming budget, we must be prepared and plan accordingly if we wish to earn money from the market. Additionally, we will discuss Top 3 Stocks Set to Skyrocket After the 2024 Budget. Focus sectors include semiconductors, hydrogen, electric vehicles (EV), railways, infrastructure, defense, and agriculture, as the current government is placing a strong emphasis on these sectors.

Top 3 Stocks Set to Skyrocket After the 2024 Budget in India.

No. 3  Indian oil corporation.

This is India’s largest or most predominant public sector enterprise and energy company. Indian Oil Corporation operates in petrochemicals, natural gas exploration and production, explosives, and serogenic. The company is also very focused on expanding its business in the renewable energy sector. Indian Oil Corporation is investing heavily in renewable energy projects, including solar, wind, and biofuels, to diversify its energy portfolio and continue sustainable development.and  High-Growth Stock  now after the 2024 budget india, This is India’s largest or most predominant public sector enterprise and energy company. Indian Oil Corporation operates in petrochemicals, natural gas exploration and production, explosives, and serogenic. The company is also very focused on expanding its business in the renewable energy sector. Indian Oil Corporation is investing heavily in renewable energy projects, including solar, wind, and biofuels, to diversify its energy portfolio and continue sustainable development.

Past Performance & Fundamentals: Indian Oil’s past performance remains quite good and maintains strong profitability and investment growth and strong fundamentals.

• Revenue and Profit: Market cap is ₹2,37,505Cr. For the year ending Mars 31st 2024 Indian oil reported total revenue of ₹780,194.70 crore, with a net profit of 41 ₹729.69 crore.
• Return on Equity(ROE): The company’s ROE is 25.75%, which is higher than the last 5 years’ average of 14.67%.
• Earning per Share (EPS): EPS grew by 11% in previous year, indicating a positive Trend in profitability despite recent challenges.
• Promoter Holding: As of March 2024, Indian Oil Corporation promoter holding stand at 51.5 0%, which has remained unseen over the past several quarters.
• Debt and Debt to Equity:  Its total debt is ₹1,234.5 billion, or the debt-to-equity ratio is 65.6%, which indicates a moderate level of leverage. This ratio has come down from 81.6% in the last 5 years, reflecting efforts to manage debt levels more effectively. The interest coverage ratio is 7.6, which indicates that the company generates enough income to comfortably cover its interest expense.
• Dividend Yield: 

UpComing project:  Here are some major upcoming projects of Indian Oil Corporation.

• New Refinery in Nagapattinam: A ₹35,580 crore, 9 MMTPA refinery will produce BS-VI compliant petrol, diesel, and polypropylene.
• Petrochemical Complex in Paradip: An investment of ₹61,000 crore is planned for a large petrochemical complex.
• LNG Dispensing Stations: Six stations will be established in Tamil Nadu, expanding the company’s gas infrastructure.
• Renewable Energy Initiatives: IndianOil aims to enhance its renewable energy portfolio, targeting a significant increase in capacity to support its net-zero goals by 2046.
• Green Hydrogen plant: A 10,000 tonnes per annum green hydrogen plant is being developed at the Panipat Refinery.

No. 2  CG Power and Solutions.

CG Power and Solutions: This company works in the industrial power and railway segments, has a strong presence in 80 global markets, and operates 17 manufacturing plants of its own. The company has 86 years of experience. We have chosen this company because it has a robust presence in the semiconductor sector. Currently, the government is focusing heavily on the semiconductor industry. The company has initiated the construction of its 7000 crore outsourced semiconductor assembly and test facility in Gujarat. It is believed that this factory will be operational in 2 to 3 years, providing employment to around 5000 people. Therefore, we anticipate good growth for this company. And High-Growth Stock  now after the 2024 budget india,

Past Performance & Fundamentals: It is worth looking at the company’s past performance and fundamentals. The company is completely debt-free, which is making good returns or showing improvement in its numbers also.

• Revenue & Profit: For the financial year ending March 2024, CG Power has reported a total revenue of ₹8,045.98 crore, a growth of 15.4% from ₹6,972.54 crore in the previous year,Profit: The net profit for the same period was ₹233.60 crore, indicating solid profitability amidst revenue growth.

• Return on Equity (ROE): CG Power has an ROE of 57.8%, indicating effective management of shareholder equity.
• Earning per share (EPS): The EPS for the trailing twelve months (TTM) is ₹9.34, indicating the company’s profitability on a per share basis.
• Promoter holding: CG Power and Industrial Solutions’ promoter holding stands at 58.11% as of March 2024, which has remained relatively stable over the past several quarters.
• Debt & Debt to Equity: CG Power has Negligible Debt.
• Dividend Yield: CG Power’s dividend yield is 0.18%.

Upcoming Project: CG Power & Industrial Solutions has several important upcoming projects, which are discussed in the following article.

• OSAT Facility in Gujarat: CG Power is building a ₹7,600 crore outsourced semiconductor assembly and test (OSAT) facility in Sanand, Gujarat. The project, a joint venture with Renesas Electronics and Stars Microelectronics, aims to enhance India’s semiconductor ecosystem and is expected to create around 5,000 jobs. Production is planned to be scaled up to 15 million units per day in five years.
• Large Industrial Machines: An investment of ₹35 crore will increase the capacity of large industrial machines at Mandideep, Bhopal, from 1,002 to 1,728 units annually.
• Power Transformers: A ₹31 crore investment will expand the capacity of power transformers at Bhopal from 25,000 MVA to 35,000 MVA, addressing growing market demand. These expansions.
• Capacity Expansion: The company plans to invest ₹347 crore across various units, including ₹155 crore for expanding the manufacturing capacity of instrument transformers and medium voltage switchgear at its Nashik facility

No. 1  NCC Ltd.

NCC Limited is a leading construction and infrastructure development company in India. The company is engaged in a wide range of activities, including infrastructure development such as building roads, bridges, flyovers, and highways; large-scale building construction such as industrial and commercial buildings, housing projects, and shopping malls; water and environmental projects such as water supply systems, sewage treatment plants, and irrigation infrastructure; and power and mining projects such as power transmission and distribution projects as well as handling mining operations. The company has expertise in these works and operates in various Indian states and also abroad, in Kuwait and Oman, where it builds complex infrastructure.

Past Performance & Fundamentals: Fundamentally, NCC Limited is a strong company that is generating good returns and showing growth in sales and revenue in the past year.

Revenue & Profit: For the financial year ending March 31, 2024, NCC recorded a revenue of ₹64,848.80 crore, an increase from ₹49,490.30 crore in the previous year,Net Profit: Net profit for the same period increased from ₹1,908.60 crore to ₹2,391.60 crore, showing strong profitability.

Return on Equity: The company’s ROE is 11.4%, which shows effective utilization of shareholder equity.

Earning per Share: Basic and diluted EPS are ₹3.81, while it was ₹3.04 in the previous year, showing an increase in earnings per share.

Promoter holding: 22.00% which has remained unchanged as of June 2024.

Debt and Debt to Equity: NCC Limited has a debt to equity of approximately 0.35, indicating a manageable level of debt relative to equity.

Dividend Yield: The company’s dividend yield stands at 0.66%.

Upcoming Projects: NCC is a versatile infrastructure company, engaged in a wide range of construction activities and contributing towards critical infrastructure development in India as well as abroad. The company also has many other projects; we will talk about them in the article.

• NCC received new orders worth ₹1,919 crore, mainly focused on water supply and sewage treatment systems.
• The company has secured orders worth a total of ₹2,055 crore, which includes significant contracts for industrial and commercial buildings.
• NCC is actively involved in the construction of roads, bridges, and highways, contributing to national connectivity and economic development.
• New orders worth ₹720 crore have been placed for power transmission and distribution projects.

There may be a possibility of a boom in the stock market after the 2024 budget, for which we have provided information about the top 3 stocks. Stocks to watch after the 2024 budget.

Disclaimer; The information provided in this note is for general educational purposes only and should not be considered as a recommendation to buy or sell any stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions

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