Undiscovered Gems in India to Explore This October 2024

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Over the last 7 days, the Indian market has experienced a 3.6% decline, yet it has impressively risen by 40% over the past year with earnings forecasted to grow by 17% annually. In this dynamic environment, identifying stocks that combine strong fundamentals with growth potential could uncover promising opportunities for investors seeking to explore undiscovered gems in India.

Top 10 Undiscovered Gems With Strong Fundamentals In India

Name

Debt To Equity

Revenue Growth

Earnings Growth

Health Rating

Vidhi Specialty Food Ingredients

7.27%

11.00%

4.02%

★★★★★★

Kokuyo Camlin

27.11%

23.20%

75.70%

★★★★★★

AGI Infra

61.29%

29.16%

33.44%

★★★★★★

Focus Lighting and Fixtures

12.21%

36.42%

77.11%

★★★★★☆

S J Logistics (India)

11.71%

90.19%

60.29%

★★★★★☆

Piccadily Agro Industries

50.57%

13.86%

42.85%

★★★★★☆

Kaycee Industries

17.35%

19.50%

34.62%

★★★★★☆

Nibe

39.26%

80.75%

84.69%

★★★★★☆

Avantel

5.92%

33.98%

37.33%

★★★★★☆

Insolation Energy

88.64%

163.87%

419.31%

★★★★★☆

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

We're going to check out a few of the best picks from our screener tool.

IIFL Securities

Simply Wall St Value Rating: ★★★★☆☆

Overview: IIFL Securities Limited operates in the primary and secondary capital markets in India, with a market capitalization of ₹122.23 billion.

Operations: IIFL Securities generates revenue primarily from capital market activities, contributing ₹20.25 billion, and also earns from insurance broking and ancillary services at ₹2.77 billion. The company's revenue model is diversified across these segments, with capital market activities being the dominant source of income.

IIFL Securities, a dynamic player in India's financial sector, showcases promising growth with earnings surging by 120% last year, outpacing the industry's 63%. Their net debt to equity ratio stands at a satisfactory 35.5%, down from 117.6% five years ago. Despite recent volatility in share prices and regulatory challenges, the company's price-to-earnings ratio of 19.7x remains attractive compared to the broader Indian market's 33.8x, signaling potential value for investors seeking opportunities in emerging markets.

NSEI:IIFLSEC Debt to Equity as at Oct 2024
NSEI:IIFLSEC Debt to Equity as at Oct 2024

KRN Heat Exchanger and Refrigeration

Simply Wall St Value Rating: ★★★★☆☆

Overview: KRN Heat Exchanger and Refrigeration Limited specializes in the manufacture and sale of aluminium and copper fin and tube-type heat exchangers for the HVACR industry, with a market cap of ₹28.11 billion.