As the Indian stock market continues to evolve and grow, you may continue to look for ways to increase your returns. If you wish to take advantage of India’s blooming economic path, you may consider investing in high-growth stocks.
With myriads of listed companies in the Indian stock market, choosing the right one that resonates with your risk appetite and financial goal is imperative. Hence, it is wise to opt for an expert share market advisory firm like Research & Ranking for successful investment returns.
Before investing, learn about the best growth stocks in 2024.
Best Growth Stocks to Buy in 2024
| Company | Market Capitalization (₹ in Cr.) (as of 23rd Feb 2024) |
P/E Ratio |
| HDFC Bank Ltd. | 10,79,286.50 | 19.13 |
| Titan Company Ltd | 3,27,704.07 | 92.86 |
| Hindustan Unilever | 5,62,574.38 | 54.68 |
| IRCTC Ltd | 77,172.00 | 67.72 |
Source: BSE India
HDFC Bank Ltd
One of the largest banks in India, HDFC Bank, offers a wide range of financial services for retail and corporate clients. The bank benefits from India’s growing middle class and rising digital use. The bank’s careful risk management techniques and substantial branch network position it well for future expansion in the banking industry.
With a net profit of ₹16,372.54 cr and EPS of 21.58 as of FY 2023-24 Q3 results, HDFC bank is considered among the top high-growth stocks in India.
Titan Company Ltd
Titan Company Ltd. is an Indian brand focussing on fashion accessories like jewelry, watches, and eyewear. Titan is well-positioned to benefit from India’s rising consumer spending.
The company’s development into new markets and categories, combined with a focus on design and quality, is expected to fuel future growth and shareholder value.
Hindustan Unilever
FMCG is a sector that continues to develop despite unexpected hurdles, demonstrating its ongoing and enduring success. Hindustan Unilever is one of the companies with the greatest market capitalization, around 6 lakh crores, among its industry peers.
The company’s extensive product offering includes categories like home care, personal care, food and beverages, and beverages. Despite heavy competition, HUL has maintained its market leadership position thanks to its solid distribution network and brand loyalty.
With India’s population expansion and rising disposable incomes, HUL is expected to profit from increased customer demand for its products.
IRCTC Ltd
The corporation is a central public sector enterprise owned by the Government of India and administered by the Ministry of Railways.
It is the only company authorized by the Indian Railways to provide customers with online ticketing services, bottled drinking water, catering services, and budgeted hotels.
The Indian rail network continues to expand, including new trains that will benefit IRCTC. Moreover, the company booked a net profit of ₹300 crores in the third quarter of the financial year 2023-24.
How To Invest in Growth Stocks
Having good growth stocks can add significant value to your investment portfolio. They offer diversification and a potential increase in the overall portfolio return.
There are three ways to invest in a high-growth stock in India.
- Investing directly in the stock through the stock market
To identify growth stock, you must assess a company’s financial performance. Various metrics, such as price-to-earnings (PE) or price-earning-to-growth (PEG) ratios, can help quantify growth potential.
This information can be found in the company’s Annual Report, which is updated on their website or on the BSE/NSE websites. Proper research is vital before investing or opting for a financial or share market advisory firm for guidance.
- Investing through Exchange Traded Funds (ETFs)
You can alternatively invest in an exchange-traded fund focusing on growth stocks. ETFs are a collection of securities (stocks, bonds, commodities, etc.) that can be traded on the stock exchange.
- Investing in Mutual Fund
If you wish to invest in growth stocks, you can also invest in a growth mutual fund. These funds are professionally managed and offer good diversification as they invest in multiple growth stocks.
Conclusion
To successfully navigate the rising stock market in India, it is essential to have in-depth knowledge and a better understanding of upcoming trends. You can get help from a reputed share market advisory firm. A strategic approach, careful study of market dynamics, and a focus on underlying value can help you gain success in stock investing.
