StoxBox’s Growth Picks: Top 7 Stocks for Investors
StoxBox’s “Techno Funda Super 7 picks” August 2024 report highlights seven standout stocks that combine resilience and growth potential. Based on expert market analysis, these selections offer immediate gains and long-term value. They are ideal for leveraging cutting-edge technologies and key sector opportunities. Discover how these stocks can enhance your portfolio.
1) BPCL
BPCL is a key player in India’s oil and gas sector, backed by the government. BPCL’s stock has surged 100% since October 2023 and is now in a consolidation phase, showing signs of a bullish breakout. StoxBox recommends buying BPCL between the current market price of ₹ 328 with a target of ₹357 and a stop loss of ₹317. BPCL plans to invest Rs. 16,400 crores in FY25, focusing on refinery expansion and infrastructure, supporting its long-term growth.
2) HCL Tech
HCL Tech displaying robust relative performance and increased buyer demand. The stock is recommended for purchase between the current market price of ₹1650, targeting ₹1785 with a stop loss of ₹1601. On the investment front, HCL Tech is expected to see steady growth from H2FY25, driven by broad-based recovery across most verticals.
3) PAYTM
StoxBox recommend buying PAYTM at a current market price of ₹ 555 with a target of ₹615 and a stop loss of ₹530 in the short term. The company’s large and active user base of 7.8 million monthly transacting users supports a stable business model, enabling revenue from both consumers and merchants with cross-selling opportunities.
4) Petronet LNG
Petronet is well-positioned for growth, benefiting from lower LNG prices and rising gas demand StoxBox recommends buying with a current market price of ₹366 with a target of ₹401 and a stop loss of ₹351 in the short term. Petronet is well-positioned for growth, benefiting from lower LNG prices and rising gas demand.
5) RVNL
RVNL a leading name in civil constriction business, StoxBox recommends buying RVNL at the current market price of ₹565, targeting ₹626 with a stop loss of ₹538 in the short term. Despite weak Q1FY25 results, with a 27% YoY revenue decline and a 35% drop in PAT, RVNL remains optimistic due to its strong order book of ₹83,200 crore and strategic expansion, including a new subsidiary in Uzbekistan and an MoU with an Israeli partner. The company expects a revenue rebound in the remaining quarters, aiming for ₹17,700 crores, an 8% YoY increase.
6) TCS
StoxBox recommends buying TCS at CMP price of ₹4375, targeting price of ₹4705 with a stop loss of price of ₹4241. The stock is forming a cup and handle pattern and shows strong momentum with RSI indicators. Despite short-term IT industry challenges, TCS’s focus on emerging technologies like cloud and AI positions it as a market leader, expected to drive growth and profitability in H2FY25.
7) Zomato
Zomato’s stock, uptrend since January 2023, shows strong momentum and resilience. With improving EPS, price strength, and buyer demand, StoxBox recommends buying at CMP ₹ 262 with a target of ₹ 285 and a stop loss of ₹252. The growing food delivery sector in India supports Zomato’s stable outlook. The company is aggressively expanding its quick commerce segment, Blinkit, and investing in its B2B business, Hyperpure, with expectations of continued growth and improved margins.
