Best Stocks To Buy In March 2024 (2024)

In this article, we will discuss

• Introduction
• List of Best Stocks to buy March 24
• Detailed Overview of Best Stocks for March-' 24
• Conclusion

Introduction

Welcome to our Best Stocks to buy for March 2024 edition! As we step into a new month, investors are eager to explore opportunities that can potentially boost their portfolios. In this edition, we've sifted through the market trends, analyzed financial data, and consulted expert opinions to bring you a curated list of stocks that stand out for March.

Navigating the stock market can be daunting, but our mission is to simplify the process for you. Whether you're a seasoned investor or just starting out, we've got you covered with straightforward insights and recommendations. Our focus is on stocks with strong fundamentals, promising growth potential, and resilience to market fluctuations.

March is known for its dynamic market movements, presenting unique possibilities for investors. Our blog aims to empower you with the information needed to make informed decisions and capitalize on the exciting opportunities this month has to offer. Join us on this journey as we explore the best stocks to consider for a successful and rewarding March 2024. Let's make your investment journey a prosperous one together!

List of Best Stocks to buy March 24

Detailed Overview of Best Stocks for March-' 24

NESCO

NESCO is engaged in licensing premises for offices, licensing premises for exhibitions, providing catering services to the organizers, and manufacturing machines and capital equipment. Business Segments:

Nesco IT Park: It accommodates the world's leading multinationals such as HSBC, KPMG, PWC, MSCI, BlackRock, Here Solutions, Framestore, Priceline, WeWork, Apollo Global, and several others.

Bombay Exhibition Center: It is India’s largest exhibition venue in the private sector, hosting various kinds of events for organizers across the globe.

Nesco IT Park and BEC account for approx. 75% of the turnover, business divisions such as Indrabator, Nesco Foods contribute to approx. 15% of the turnover.

It announced its Q3FY24 results on 13th Feb and has performed exceptionally well thereafter. Q3FY24 recorded the highest-ever consolidated revenues and PAT with a jump of 24% and 34% YoY. The stock is trading close to its all-time highs and is in strong momentum.

The company is Debt free with a Price-to-earnings ratio of 18.9 which is below the Industry PE of 37.9 and also lower than its 5-year median PE of 19.8. The company’s ROCE and ROE stands at 21.8% and 16.7% respectively.

One can buy this stock at Rs. … levels with a stop loss of Rs. 788.

Sudarshan Chemical Industries

Sudarshan Chemical Industries Limited is a leading, world-class color solutions provider with a strong global outreach in producing performance colorants, an extensive range of Organic, Inorganic, and Pearlescent pigments and Dispersions. Sudarshan started manufacturing pigments in 1952 with a handful of inorganic pigments and has since flourished with a breadth of products that cover classical azo pigments, high-performance pigments, effect pigments, and pigment dispersions.

The company has been able to deliver an ROE and ROCE of 5 percent and 6 percent respectively. The shares of the company are witnessing a surge in its delivery volume. One can buy the stock at … with a stop loss of 510.

EIH Ltd

EIH is primarily engaged in owning and managing premium luxury hotels and cruisers under the luxury Oberoi, Trident and Maidens brands. The company is also engaged in flight catering, airport restaurants, travel and tour services, car rentals, project management, and corporate air charters. The Oberoi Group is the owner and operator of 19 outstanding hotels, resorts and a luxury River Nile cruiser in Egypt under the Oberoi Hotels & Resorts brand and 10 five-star properties under the Trident Hotels label. As of 31st March 2023, EIH Ltd. manages 29 hotels with a room inventory of 4,269 rooms across 6 countries.

In its Q3FY24 results, the company reported all-time-high quarterly revenues as well as all-time-high quarterly net profit. Further, the stock is also in momentum in the last one year when compared to the Nifty 500.

We recommend buying the stock at … with a stop-loss of Rs. 341.

Kalyan Jewellers Ltd

Kalyan Jewellers India Limited is one of the largest jewellery companies in India. It started its jewellery business in 1993 with a single showroom in Thrissur, Kerala. It has since expanded to become a Pan-India jewellery company. The company designs, manufactures and sells a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings, which is its highest-selling product category, to daily-wear jewellery. The company endeavours to cater to its customers’ unique preferences, which often vary significantly by geography and micro market, through its local market expertise and region-specific marketing strategy and advertising campaigns.

The company has been able to deliver an ROE and ROCE of 14 percent and 13 percent respectively. The shares of the company are witnessing a surge in its delivery volume. One can buy the stock at … with a stop loss of 316.

NATCO Pharma Ltd

NATCO Pharma Limited (NATCO) is a vertically integrated, research and development focused pharmaceutical company engaged in developing, manufacturing, and marketing complex products for niche therapeutic areas. NATCO has established its presence in all three business segments viz. finished dosage formulations (“FDF”), active pharmaceutical ingredients (“APIs”) and Contract Manufacturing Business. It has recently diversified into the business of crop health sciences to leverage its skills in organic chemistry.

NATCO markets and distributes its products in over 50 + countries. It sells its products in the United States, India, Europe and the rest of the world (“RoW”). It also operates in certain key geographies through its subsidiaries. It generates a sizeable proportion of its formulation business from exports. Further, it enjoys a presence in the generics business in the regulated markets of North America and Europe and branded generics in the rest of the world.

On the back of strong quarterly results in Q3FY24, the shares of NATCO surged which was further supported by a spike in volumes. NATCO reported a 3x YoY rise in consolidated PAT with robust growth in revenues as well. The company’s management also raised its guidance for PAT. Further, the stock is also in momentum in the last one year when compared to the Nifty 500.

We recommend buying the stock at the … with a stop-loss of Rs. 840.

Conclusion

As we conclude our March 2024 stock insights, remember that informed decisions are key to successful investing. Explore the recommended stocks and leverage the power of timely information. To make your investment journey even more seamless, consider using the Samco Trading App. With its user-friendly interface and robust features, it's a valuable companion in your quest for financial growth. Happy investing, and may March bring you prosperous returns! Stay tuned for more updates and insights in the world of stocks. Here's to smart investing with Samco Trading App by your side

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