Diwali is around the corner and Indians celebrate it with vivacity and joy. It is a festival of light where all Indian love to spend lavishly. The festival season in India starts with Navaratras which ends with Diwali. Almost it is a month-long period.
Navaratras and Vijaydashmi are behind us while the festival of light is some 15 days away. It is also the time when people love to make investments. It is considered auspicious to invest in this period. Keeping in mind the season, we are recommending five stocks to buy ahead of Diwali. We have researched the stock on various parameters and expect them to deliver excellent returns by the time the festival comes around.
Mahindra Lifespace Dev Ltd
Mahindra Lifespace Developers is into real and infrastructure development. The stock has come out of long consolidation and has established an uptrend. The best price to enter the stock is when the price closes above Rs 300. Realty sector is in an uptrend but presently Nifty Realty is correcting. It might bounce off after touching 20 days moving average at 513.70. However, it continues to correct the realty index will test 50 days moving average at 462.03.
Metropolis
Metropolis has returned a strong performance. It is trading above short, medium and long term moving averages. Valuation of the stock might look bit expensive but it is a good bet for the festival season. 20 day average volume and delivery percentage is rising. At present the stock is slowing down as the technical indicators indicate pause in momentum. Enter at any price above Rs 2950 if it maintains the momentum. It is 10.29% away from 52 week high.
State Bank of India
SBI is a good bet for Diwali as it is in uptrend riding on its rising net cash flow and cash from its operations. The stock has high TTM EPS growth and has made new 52 week high. Return on equity (ROI) is improving for last six years. The stock is trading above short, medium and long-term averages. It is 0.62% away from the 52 week high. It is up by 15.87% in one month compared to Nifty 50 which up by 4.17% in last one month.
DLF
DLF (Delhi Land & Finance) is a leading real estate company engaged in the business of real estate development for commercial and business purposes. The company was founded on 4 July 1946 by Chaudhary Raghvendra Singh.
The Gurugram-based real estate company has high Piotrosky score indicating high financial strength. DLF stock has demonstrated in the long-term solid financial performance driven by quality management. The stock is showing strong momentum indicating confidence of investors. It is available at a good valuation.
It is trading 7.4% away from 52 week high. In the last one month the stock is up 11.42%. Both FII and institutional investors have increased their in the Sep 2021 quarter. The stock is trading above short, medium and long term averages.
Disclaimer: The views and investment tips expressed here are for educational purposes only and should not be considered as a call for investment. Bussinessfab.com advises users to consult a certified investment advisor before taking any investment decision.
