General Election-Year Opportunities: Top Stocks to Watch in 2024

The year 2024 isn’t just another General Election year for India; it’s shaping up to be the election year globally. A record number of voters across at least 64 countries, representing nearly half of the world’s population, are set to head to the polls. The outcomes of these elections are poised to have significant ramifications for years to come, potentially leading to stock market volatility in response to unexpected news. Therefore, it’s crucial to make wise investment choices and stay focused.

Let’s delve into the top three stocks to keep an eye on during the General Election 2024:

1. Jubilant Pharmova

Formerly known as Jubilant Life Sciences, this company boasts a global presence and engages in various sectors including Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organization (CRDMO), Generics, and Proprietary Novel Drugs businesses. Notably, its Radiopharma business has shown promising growth, with a 23% revenue increase and a significant jump in EBITDA in Q3Y24. The Jubilant Pharova’s pipeline looks robust, with plans to introduce multiple new products from FY24-28. Despite some setbacks in the CDMO Sterile Injectable segment due to maintenance shutdowns, the company remains on track with its expansion plans, including the commencement of commercial production in the coming years.

2. Dynamatic Technologies: 

Renowned for designing and manufacturing highly engineered products for Automotive, Aeronautic, Hydraulic, and Security applications, Dynamatic Technologies stands out with its futuristic facilities in Europe and India. The company has secured substantial contracts, such as manufacturing all variants of Airbus A220 doors and aerostructures for Dassault Aviation’s Falcon 6X. These contracts are expected to significantly boost the company’s Aerospace India business in the next three years. With a strong order book and ongoing industrialization efforts, Dynamatic Technologies is well-positioned to capitalize on opportunities in both defense and commercial sectors.

3. HG Infra Engineering:

Specializing in Road Infrastructure, HG Infra Engineering is involved in Engineering, Procurement, and Construction (EPC) services, as well as maintenance works for roads, bridges, and flyovers. The company boasts an impressive order book diversified across 11 states, with expectations of substantial order inflows in the coming years. The government’s increased funding for transportation infrastructure, coupled with initiatives like the Build, Operate, Transfer module and the vision 2047 initiative, bode well for HG Infra Engineering’s growth prospects. Additionally, the exploration of solar projects under the KUSUM Yojana adds further potential for expansion.

These three stocks could be significant contenders to watch during the General Election 2024, given their strong fundamentals and potential for growth amidst evolving political and economic landscapes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.