Discovering India's Undiscovered Gems This October 2024

In This Article:

The Indian market has been flat in the last week, yet it has shown remarkable growth over the past 12 months with a 39% increase and earnings forecasted to grow by 17% annually. In this dynamic environment, identifying stocks that are poised for sustained growth amidst stable market conditions can uncover hidden opportunities.

Top 10 Undiscovered Gems With Strong Fundamentals In India

Name

Debt To Equity

Revenue Growth

Earnings Growth

Health Rating

Goldiam International

0.74%

10.81%

15.85%

★★★★★★

Kokuyo Camlin

27.11%

23.20%

75.70%

★★★★★★

ELANTAS Beck India

NA

14.89%

24.83%

★★★★★★

Macpower CNC Machines

0.40%

22.04%

31.09%

★★★★★☆

Ingersoll-Rand (India)

1.05%

14.88%

27.54%

★★★★★☆

Avantel

5.92%

33.97%

37.33%

★★★★★☆

JSW Holdings

NA

21.35%

22.41%

★★★★★☆

Magadh Sugar & Energy

85.44%

6.65%

13.60%

★★★★☆☆

Sanstar

50.30%

-8.41%

48.59%

★★★★☆☆

Innovana Thinklabs

13.59%

12.51%

19.96%

★★★★☆☆

Click here to see the full list of 468 stocks from our Indian Undiscovered Gems With Strong Fundamentals screener.

Underneath we present a selection of stocks filtered out by our screen.

IIFL Securities

Simply Wall St Value Rating: ★★★★☆☆

Overview: IIFL Securities Limited offers capital market services in India's primary and secondary markets, with a market capitalization of ₹125.04 billion.

Operations: IIFL Securities Limited generates revenue primarily from capital market activities, amounting to ₹20.25 billion, supplemented by facilities and ancillary services at ₹375.25 million and insurance broking at ₹2.77 billion.

IIFL Securities, a noteworthy player in India's capital markets, has shown impressive earnings growth of 120.4% over the past year, outpacing industry growth of 64.3%. The company’s net debt to equity ratio stands at a satisfactory 35.5%, having reduced significantly from 117.6% five years ago. Despite recent share price volatility and a penalty from SEBI for technical errors, its P/E ratio of 20.2x suggests it offers good value compared to the broader Indian market's average of 33.5x.

NSEI:IIFLSEC Earnings and Revenue Growth as at Oct 2024
NSEI:IIFLSEC Earnings and Revenue Growth as at Oct 2024

Jaiprakash Power Ventures

Simply Wall St Value Rating: ★★★★★☆

Overview: Jaiprakash Power Ventures Limited operates in the power generation and cement grinding sectors both in India and internationally, with a market capitalization of ₹156.81 billion.

Operations: The company generates revenue primarily from its power segment, amounting to ₹61.68 billion, and coal segment contributing ₹6.59 billion. The net profit margin shows a notable trend at 2.5%.