Bajaj Finance, LTI Mindtree and Tata Elxsi among 10 stock buy ideas for Diwali 2024

Geojit recommends buying Exide Industries as it believes the overall demand scenario shows signs of pickup due to stability in the 2W volume. We expect the margin to show resilience at current level and improve going forward, it added.

The brokerage is bullish on the footwear major as it is of the view that Bata has the capability to revive its revenue growth trajectory given its strong brand recall & distribution reach, and strong balance sheet.

The company’s product diversification has strengthened the company’s market position and revenue streams. This justifies the higher valuation, underlines Geojit.

Furthermore, the company’s recent acquisitions will enable it to broaden its target market and support its growth efforts.

The brokerage held stable order inflow in the high-tech & manufacturing verticals will support strong double-digit growth. Also, an increase in US discretionary spending in BFSI space and improved operational efficiency, reduction in sub-contracting are likely to support margin expansion, added Geojit.

Geojit believes strong balance sheet with adequate cash reserves will allow Sun Pharma to continue acquiring assets, which will help in strengthening the business.

Supporting the buy argument, the brokerage said that input price inflation remains a near-term caution, however, an expectation of a revival in demand in H2FY25 will lighten-up the volume and earnings growth.

As per the brokerage, Mold-Tek’s adoption of cutting-edge technology, fully backward integration, robust balance sheet, and strong earnings outlook, make it a compelling story.

Geojit remaked that the NBFC's diversified lending profile, coupled with its customer-centric model and focus on cross-selling, has helped it achieve an optimal balance of risk and profitability to deliver a sustainable business

The brokerage bets on the kitchen appliances company as it believes lower inflation, improvement in real estate sector and strong GoI focus on housing are expected to support demand, given TTK’s entry into the economy segment with its Judge brand.

In the IT enables services space, the brokerage is bullish on the Tata group stock as current order book from Europe, Japan & emerging markets and reduction in subcontracts are likely to support margin expansion.