Stocks to BUY before Budget 2024: The country’s full budget (Budget 2024) is going to come next week. Before this, the Indian stock market closed with tremendous gains on Thursday.
Today, Sensex-Nifty has also made a record high in the market. But for now, we are talking about those stocks in which you have to invest in terms of budget.
The effects of the government’s announcements within this budget can be evident in the stock market and there will be specific attention paid to shares in industries like railways, infrastructure, and defense since the government could make huge announcements in these areas.
Buy These Stocks Before The Budget
In such a situation, keep your portfolio ready to earn profit in terms of budget. Before the budget, market experts have found and brought such stocks for investors.
Expert has advised investing in Rites Ltd (NSE: RITES). Before budgeting, it is recommended to buy this stock and store it in your portfolio. It can give a return of up to 36 percent in 1 year.
Buy Opinion In Rites Ltd
This stock is included in the stock which can do wonders with the announcement in the budget. Right now it is trading at around Rs 732.
Experts have given a big target on this stock in terms of 1 year. Experts have given a target price of Rs 1,000 on it.
While doing this you must limit the stoploss to 650 rupees. Technically, a good breakout is being made on the daily and weekly charts in the stock.
Apart from this, the government may have a big focus on the railway sector along with infrastructure in the budget. This can cause a big stir in railway share.
Rites Share Price History
However today the stock has closed down by 1.46%. But this year it has shown good growth.
In the last 6 months, this stock has climbed 40% and so far this year it has gained 45%. In the last year, the stock returned 78 percent to investors.
Rites Stock Performance
| Current Price | ₹ 732 |
| 52-wk High | ₹ 826 |
| 52-wk Low | ₹ 421 |
| 5 Days Return | 0.13% |
| 1 Month Return | 4.95% |
Key Fundamentals Parameters
| Market Cap | ₹ 17,595 Cr. |
| Stock P/E | 38.6 |
| Book Value | ₹ 109 |
| Dividend | 2.80 % |
| ROCE | 24.8 % |
| ROE | 17.5 % |
| Face Value | ₹ 10.0 |
| P/B Value | 6.74 |
| OPM | 26.3 % |
| EPS | ₹ 19.0 |
| Debt | ₹ 8.00 Cr. |
| Debt to Equity | 0.00 |
Rites Shareholding Pattern
| Promoters Holding | |
| Mar 2023 | 72.20% |
| June 2023 | 72.20% |
| Sept 2023 | 72.20% |
| Dec 2023 | 72.20% |
| Mar 2024 | 72.20% |
| FII Holding | |
| Mar 2023 | 3.37% |
| Jun 2023 | 3.44% |
| Sep 2023 | 3.98% |
| Dec 2023 | 3.22% |
| Mar 2024 | 4.17% |
| DII Holding | |
| Mar 2023 | 15.89% |
| Jun 2023 | 15.25% |
| Sep 2023 | 12.72% |
| Dec 2023 | 12.27% |
| Mar 2024 | 11.09% |
| Public Holding | |
| Mar 2023 | 8.53% |
| Jun 2023 | 9.11% |
| Sep 2023 | 11.10% |
| Dec 2023 | 12.31% |
| Mar 2024 | 12.53% |
Rites Share: Last 5 Years’ Financial Condition
Last 5 Years’ Sales:
| 2020 | ₹ 2,474 Cr |
| 2021 | ₹ 1,905 Cr |
| 2022 | ₹ 2,662 Cr |
| 2023 | ₹ 2,628 Cr |
| 2024 | ₹ 2,453 Cr |
Last 5 Years’ Net Profit:
| 2020 | ₹ 633 Cr |
| 2021 | ₹ 444 Cr |
| 2022 | ₹ 539 Cr |
| 2023 | ₹ 571 Cr |
| 2024 | ₹ 495 Cr |
Conclusion
This article provides a detail guide about Rites Ltd share.
The information and forecasts provided result from the analysis of our research team, the company’s basics and history, experience and various technical analyses.
Also, we’ve talked in depth about the shares’ prospects and growth possibilities.
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Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations.
