Independence Day stocks: Since the previous Independence Day, several factors have coalesced in the market, and the Nifty 50’s astounding 24.23% gain could be likened to the nation’s rising flag. Despite the recent correction, the market’s overall positive structure suggests that new milestones should be achievable with a little more perseverance.
New benchmarks have been established as the market as a whole outperformed the benchmark indices. For the 78th Independence Day of 2024, which commemorates 77 years of independence since 1947, brokerage Master Capital Services Ltd. has chosen two small-cap stocks as its Independence Day Picks: Platinum Industries Ltd. and Suyog Telematics Ltd.
Platinum Industries Ltd
The share price of Platinum Industries has increased by about 100% in just a single year, giving investors multi-bagger gains. For the quarter that concluded on June 30, 2024 (Q1FY25), the company reported consolidated sales of ₹102.66 crore, a significant 66% increase from ₹61.92 crore in Q1 FY2024.
This achievement marks not just the first time the company has crossed the ₹100 crore milestone in a quarter, but also the best sales performance in the company’s history. The gain was driven by a 40% increase in export sales and a 27% increase in domestic sales, demonstrating their strong export capabilities and overall solid market performance.
With its emphasis on lead-free products and PVC pipes, Platinum Industries is positioned to benefit from India’s 2026 lead ban, according to Master Capital Services. Platinum Industries is expected to have significant growth in the speciality chemicals sector. The stock is classified as a buy at a 30x P/E FY25E, with a target price of ₹401.7, due to its strong R&D strategy and anticipated facility expansions.
Platinum Industries’ share price ended Wednesday’s trading session 5.05% down on the BSE at ₹340.15 per share.
Suyog Telematics Ltd
Similarly, multi-bagger stock Suyog Telematics has surged by more than 146% in the last year. Suyog Telematics’ business is to supply telecommunications goods and services to the mobile telecom sector. The company provides a range of telecommunication equipment, such as fibre cable, diesel generators, earth strips, cables for energy transmission, and galvanized poles, in compliance with the different specifications supplied by the clients.
The brokerage thinks the company is well-positioned for development because of BSNL’s comeback and the impending deployment of 6G, which will drive demand for 600,000 new towers. The target price, based on a 22x P/E valuation of the company for FY26, is ₹1,857 with an FY26E forecast.
Suyog Telematics’ stock price ended the Wednesday session 1.10% higher on the BSE at ₹1,470.90 per share.
