Top Stocks that can give you 19% to 35% Returns in 2024

In the uncertain and risky world of the stock market, identifying investment opportunities that can give you multi-bagger returns is comparatively more difficult than other investment opportunities. In a recent article, experts suggested a few promising Stocks that can surely benefit investors at present.

Investors who are seeking substantial growth in stock investment always look for avenues that can give them the right piece of advice. We have compiled a list of stocks that hold significant potential for your financial success. In this Blog, we will tell you about the stocks that can be safe investments with high returns in India ranging from 19% to 35% recommended by the financial analyst.

1. HDFC Life Insurance

• BROKERAGE CITI Price Target: Rs 720
• CMP (Current Market Price): Rs 604
• Upside Potential: 19%

Experts at BROKERAGE CITI, think HDFC Life Insurance’s stock could rise to Rs 720, which is 19% higher than its current price. This positive forecast comes after the stock was upgraded to a ‘buy’ rating due to its poor performance over the last six months and one year.

Analysts anticipate that HDFC Life’s initiatives to fortify its agency base throughout FY24, coupled with a strategic focus on mass market expansion, will gradually drive sales growth. Moreover, any prospective resurgence in growth at HDFC Bank is poised to further bolster HDFC Life’s performance.

As investors navigate the dynamic landscape of the stock market, insights such as these offer valuable guidance in identifying opportunities for growth and maximizing returns.

2. LTI Mindtree

• BROKERAGE MACQUARIE Price Target: Rs 6,250
• CMP (Current Market Price): Rs 4,633
• Upside Potential: 35%

BROKERAGE MACQUARIE predicts that this stock could reach Rs 6,250, which is 35% higher than its current price. Even though they still think it’s a good investment, they’ve lowered their price target by 11% because they expect the company’s growth to be slower.

Even though the company is generally strong, it’s been facing unexpected difficulties because of the merging of two companies, L&T Info and Mindtree. This has delayed the expected improvement in profits because demand for their products and services is expected to grow slowly in FY24.

3. Maruti Suzuki

• BROKERAGE BERNSTEIN Price Target: Rs 14,400
• CMP (Current Market Price): Rs 12,503
• Upside Potential: 15.2%

BROKERAGE BERNSTEIN expects this particular stock to reach Rs 14,400, indicating a potential increase of 15.2% from its current market price. In a market where Indian stocks are trading higher than their fair value, the brokerage is concentrating on companies showing strong short-term momentum.

Analysts are noticing a notable comparison in the car industry as Hyundai has been doing better than Maruti in terms of earnings lately. This change is because Hyundai is focusing on selling more premium and SUV cars. But Maruti is catching up quickly. They’re getting ready to take advantage of the growing electric car market and might also benefit from more interest in hybrid cars in the future.

4. Brookfield India

• REIT BROKERAGE HSBC Price Target: Rs 315
• CMP (Current Market Price): Rs 253
• Upside Potential: 24.5%

BROKERAGE HSBC predicts that this specific Real Estate Investment Trust (REIT) could reach a price of Rs 315, which is 24.5% higher than its current market price. They suggest buying it because they expect more spaces to be occupied and the issues related to the SEZ law to be resolved, which should lead to more leasing activity.

As offices start going back to normal, top-quality office spaces managed by institutions are likely to stay popular with renters. This should help the performance of the mentioned REIT.

Also, investors looking to earn money regularly might like that this REIT is expected to give a distribution yield of 7.9%. That’s 70 basis points more than what you’d get from 10-year Government Securities (G-Secs), making it more attractive to investors.

List of Stocks to Invest in 2024 in India

S.No	Company Name	CMP	Market Cap (Cr)
1	Reliance Industries Ltd (L)	2,928	19,85,481
2	Tata Consultancy Services Ltd (L)	3,864	14,01,032
3	HDFC Bank Ltd (L)	1,495	11,46,678
4	ICICI Bank Ltd (L)	1,055	7,49,833
5	Bharti Airtel Ltd (L)	1,267	7,37,459
6	State Bank Of India (L)	744.8	6,71,042
7	Infosys Ltd (L)	1,421	5,87,244
8	ITC Ltd (L)	418.9	5,31,787
9	Hindustan Unilever Ltd (L)	2,215	5,21,821
10	Larsen & Toubro Ltd (L)	3,555	4,87,341
11	Bajaj Finance Ltd (L)	6,889	4,30,715
12	HCL Technologies Ltd (L)	1,470	4,00,618
13	Maruti Suzuki India Ltd (L)	12,404	3,93,112
14	Sun Pharmaceutical Industries Ltd (L)	1,524	3,68,766
15	Kotak Mahindra Bank Ltd (L)	1,786	3,56,911
16	Oil & Natural Gas Corporation Ltd (L)	274.3	3,56,085
17	Adani Enterprises Ltd (L)	3,040	3,54,079
18	NTPC Ltd (L)	351.4	3,48,353
19	Tata Motors Ltd (L)	971.4	3,29,864
20	Axis Bank Ltd (L)	1,024	3,24,988
21	Titan Company Ltd (L)	3,526	3,23,780
22	Ultratech Cement Ltd (L)	9,387	2,73,493
23	Asian Paints Ltd (L)	2,811	2,71,506
24	Bajaj Finserv Ltd (L)	1,598	2,58,238
25	Nestle India Ltd (L)	2,463	2,45,585

Note: The above information on stocks is for reference purposes, please take professional advice before making any investment decisions.

Final Thoughts

As investors navigate the complexities of the stock market, it’s essential to remain vigilant and informed when seeking potential opportunities for growth. The four stocks highlighted in this blog represent a diverse array of industries and investment theses, each offering unique prospects for value creation and capital appreciation. While no investment is without risks, diligent research and prudent decision-making can help investors capitalize on promising opportunities and achieve their financial objectives. As always, it’s advisable to consult with a financial advisor or conduct thorough due diligence before making any investment decisions.

Source – msn, money control