Diwali stocks to consider in 2024: 5 stocks with potential gains of up to 30.5% for Muhurat trading – Top stock picks for Diwali 2024.  

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Religare Broking’s recommendations for Muhurat trading 2024 include:

– Stock: State Bank of India
– Sector: Banking
– Market cap: ₹6,96,941.3 crore
– Recommended price: ₹782
– Target price: ₹941
– Potential upside: 20.3%

According to Religare Broking, SBI is in a strong position due to its low loan-to-deposit ratio, providing it with flexibility even amidst slower deposit growth. Its reliable retail deposits and steady 22-23% share of the credit market allow it to increase market share while competitors face difficulties. Moreover, investments in technology have increased cost efficiency, lowering the cost-to-income ratio to under 50% and boosting long-term profitability. Considering these factors, we project NII/PPOP/PAT to increase at a CAGR of 14.2%/7.6%/7% from FY24 to FY26E. We assign a ‘Buy’ rating to the bank with a target price of Rs 941. Diwali 2024: Best stock picks to invest in

   

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