Undiscovered Gems In India To Watch This August 2024

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The Sensex and the Nifty 50, key indices of the Indian stock market, hit fresh record highs in intraday trade on Friday, August 30. The BSE Midcap and Smallcap indices also rose almost a percent each, driven by expectations of a rate cut and solid economic growth amid a healthy monsoon. In this thriving market environment, identifying stocks with strong fundamentals and growth potential becomes crucial. Here are three undiscovered gems in India that stand out as promising opportunities to watch this August 2024.

Top 10 Undiscovered Gems With Strong Fundamentals In India

Name

Debt To Equity

Revenue Growth

Earnings Growth

Health Rating

Bengal & Assam

4.48%

1.53%

51.11%

★★★★★★

Kokuyo Camlin

27.11%

23.20%

75.70%

★★★★★★

Force Motors

23.24%

21.52%

44.24%

★★★★★☆

Avantel

10.67%

34.84%

36.61%

★★★★★☆

Spright Agro

0.58%

83.13%

86.22%

★★★★★☆

Genesys International

12.13%

15.75%

36.33%

★★★★★☆

KP Green Engineering

13.73%

47.60%

61.28%

★★★★★☆

Kalyani Investment

NA

20.74%

6.35%

★★★★★☆

Innovana Thinklabs

13.59%

12.51%

20.01%

★★★★☆☆

Rir Power Electronics

54.23%

16.42%

34.78%

★★★★☆☆

Click here to see the full list of 472 stocks from our Indian Undiscovered Gems With Strong Fundamentals screener.

Let's dive into some prime choices out of from the screener.

ASK Automotive

Simply Wall St Value Rating: ★★★★☆☆

Overview: ASK Automotive Limited, through its subsidiary, manufactures and sells auto components for the automobile industry in India and has a market cap of ₹90.35 billion.

Operations: ASK Automotive Limited generates revenue primarily from the manufacturing of auto components, amounting to ₹32.00 billion. The company has a market cap of ₹90.35 billion.

ASK Automotive, a small-cap player in India's auto components sector, has shown robust earnings growth of 44.8% over the past year, outpacing the industry average of 20.1%. The company's net debt to equity ratio stands at 40.8%, which is high but manageable given its EBIT covers interest payments by 8.6 times. Recent Q1 results highlight strong performance with net income rising to INR 568 million from INR 348 million last year and EPS increasing to INR 2.88 from INR 1.77

NSEI:ASKAUTOLTD Earnings and Revenue Growth as at Aug 2024
NSEI:ASKAUTOLTD Earnings and Revenue Growth as at Aug 2024

Aurionpro Solutions

Simply Wall St Value Rating: ★★★★★★

Overview: Aurionpro Solutions Limited offers technology solutions in transaction banking, customer experience, smart city, and smart transportation sectors in India and globally, with a market cap of ₹103.87 billion.

Operations: Aurionpro Solutions Limited generates revenue primarily through the sale of software services (₹6.30 billion) and the sale of equipment and product licenses (₹3.21 billion).