Elections can be the best time to make the most out of the stock market. As the 2024 elections approach, the stock market shows excellent volatility. Investors seek this as an opportunity to buy and sell stocks at the perfect time and enhance their investment portfolio.
Here is a list of the top 10 stocks to buy before the 2024 elections that you can consider adding to your investment portfolio.
Top 10 Stocks to Buy Before 2024 Elections
While there can be an unending list curated for the best stocks to buy before the 2024 general election, here are some top picks of stocks that are likely to touch new heights during the 2024 election season. Let us know about them in detail.
Hindustan Unilever Ltd. (HUL)
Hindustan Unilever Ltd. is one of the safest and enduring stocks in the Indian market. While the stock is currently in its lower circuit, there is nothing wrong with its fundamentals.
Hence, as the 2024 general elections approach, HUL will likely rise back to yield heavy returns. The stock is trading at Rs 2,225 and has recorded a downfall of 10% in the past six months.
State Bank of India (SBI)
The State Bank of India stock is another safe option for investing your money. Being one of the biggest banks in India and with a PE ratio of 11.24, SBI looks strong over the stock market.The stock has yielded a heavy return of 43.13% in the past six months and is likely to outperform in the upcoming 2024 general elections. Moreover, if the political stability is maintained post-election, SBI can be among the best pre-election stock picks for 2024 for its investors.
Indian Railway Catering and Tourism Corporation (IRCTC)
With the 2024 elections approaching, the travel industry is expected to experience a boom as people travel from villages and towns to cast their votes. It is expected that over 25,000 individuals will travel during the two-month-long election period. Given that the Indian railways are the most highly utilised mode of transport across the country, its stocks will likely increase in the coming days.
Bharat Electronics (BEL)
Bharat Electronics is rapidly gaining exposure in the stock market; the stock prices have experienced significant growth of over 80% in the past six months.With a high P/E ratio of 48.90, the stock has yielded substantial returns to investors recently. It could be a prime choice for your investment portfolio before the 2024 elections.
Ultratech Cement
With the infrastructure industry gaining a rapid boom in India, Ultratech Cement presents a promising option for investors in the 2024 general elections.Although the stock has seen slower growth in recent months, it is expected to experience a significant increase in value shortly. Currently trading at Rs 9,700, the stock is predicted to surpass 10,241 levels, making it one of the best stocks to buy before the 2024 general elections, especially during frequent drops in its price.
New Delhi Television Limited (NDTV)
Supported by the Adani group, NDTV is a company trusted by the public. As the election season approaches, the viewership of NDTV is expected to increase by 39%.Ultimately, the stock price is also expected to rise and set new highs daily during this election season. Therefore, it can be considered an ideal stock pick before the 2024 election.
As the infrastructure industry continues to flourish in the country, L&T remains a prominent competitor and market leader. A stat confirmed that the company will record around 20% growth in its order inflows, ensuring its strong market position in the future.Hence, the stock price of L&T is likely to experience an increase following the 2024 election season, making it a favourable consideration for your portfolio.
Varun Beverages
With a strong beverage industry profile and an extensive distribution network, Varun Beverages is an excellent choice for investment. It is advisable to constantly buy the stock during frequent dips to realise significant returns in the coming years. The stock trades at Rs 1,459 and has delivered a substantial return of 57.85% in the past six months.
Hero MotoCorp
With a robust pipeline of new bikes set to be launched by Hero MotoCorp, the company is all set to strengthen its market position in 2024. Despite fluctuating at a low range for the past two years, the stock is expected to yield heavy returns for investors this election season.
Zomato Ltd.
In the food and beverages industry, Zomato Ltd. has gained rapid confidence among the public. With the stock witnessing a growth of more than 78% in the past six months and being a recent multi-bagger, it is likely to surpass the Rs 200 mark around the 2024 general elections. Therefore, considering such stock picks before the 2024 election can potentially result in significant profits over the next few years.
Conclusion
While predicting a stock's future is uncertain and comes with risks, these pre-election stock picks for 2024 offer a safer approach to potentially multiply your income wisely.
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Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
