Top 5 Stocks to buy today – 24-05-2023
Today we will be looking at some of the hottest stocks on the market that could be worth adding to your investment portfolio. And to help us make the most informed decisions, we'll be using the powerful investment tool - NiveshakGPT.
NiveshakGPT is an excellent personal investment advisor that gives you timely advice and high-quality recommendations in the stock market. With the right data, NiveskGPT helps you make smart investment decisions that suit your financial needs.
Now, let's take a closer look at each of the five stocks that we've picked out for you today, including their benefits when using NiveshakGPT.
STOCK 1: BHARTIARTL
Based on the information provided, the technical analysis and key financial indicators of Bharti Airtel Limited (BHARTIARTL), the stock seems to be a good buy with a favorable risk-reward ratio. The stock is moving in the right direction relative to its moving averages, with the current stock price of 799.95 higher than the Moving Average 20, 50 and 200.
From a fundamental perspective, the company looks strong with a healthy sales figure of 134636.0 and net profit of 7275.0. The market capitalization of the company is also good at 438739.0. However, the valuation of the company is on the higher side with a P/E ratio of 60.31, and a lower asset turnover ratio of 0.32.
The company's leverage is on the higher side with a ratio of 5.83 and its normal equity stands at 133181.79. The return on equity (ROE) remains decent at 9.99%.
Overall, based on the technical and fundamental parameters, it can be recommended that investors can buy the stock of BHARTIARTL while keeping a watchful eye on the key financial metrics of the company, as the stock is currently overvalued.
STOCK 2: ITC
Based on the provided data, the view on ITC is positive. The stock is currently trading above its 20-day, 50-day, and 200-day moving averages, indicating the trend is favorable. The risk-reward is also favorable, making it a good buying opportunity. The key financials, such as sales, net profit, and market capitalization, are strong. The ROE and asset turnover ratio are also healthy, indicating the company is utilizing its assets efficiently. The P/E ratio is slightly higher than industry average but is still within a reasonable range. The stock is currently undervalued, which adds to its attractiveness as a buy. Therefore, based on the data given, it is recommended to buy ITC.
STOCK 3: AXISBANK
Next up, we have AXISBANK. Based on the analysis of the key financial and technical data provided, my view on Axis Bank is that it is a good Buy. The Moving Average 20 is higher than both the Moving Average 50 and Moving Average 200 indicating a positive trend in the short-term. The current stock price of Axis Bank is higher than the Moving Average 20, which is also a positive sign and indicates that the stock is on an upward trend.
In addition, the company's financials look strong with sales of INR 81,027.0 Cr and a net profit of INR 20,598.0 Cr. The ROE of 17.42% indicates that the company is performing well and generating good returns for its investors. The P/E ratio of 12.92 is reasonable and indicates that the stock is not overvalued.
The asset turnover ratio of 0.07 indicates that the company is generating revenue from its assets. The leverage is high at 10.11, which indicates that the company has a high level of debt.
However, despite the high leverage ratio, the company has a normal equity of INR 1,97,436.17 Cr which is a positive sign. Finally, the valuation indicates that the stock is undervalued, which is also a positive sign for investors.
In summary, the risk-reward is favorable with the stock moving in the right direction relative to moving averages. You can buy fearlessly so long as the trend stays favorable.
STOCK 4: JSWSTEEL
Our fourth pick for the day is JSWSTEEL. Based on the given information, my view on JSWSteel is a 'BUY'. The risk-reward is favorable with the stock moving in the right direction relative to moving averages, which indicates a positive trend. Additionally, the current stock price of 704.1 is higher than the moving average 20 (717.06), showing a bullish trend in the short term.
Looking at the company's key financials, we can see that it has sales of 165893.0 and a net profit of 3662.0, which reflect a stable financial performance. The company also has a market capital of 164903.0 and a P/E ratio of 45.03, indicating that it is an overvalued stock.
Furthermore, the company's ROE stands at 5.91%, which is relatively low, indicating less efficient use of shareholder's funds. The asset turnover ratio of 0.84 is below industry standards, but the leverage of 3.17 shows the company's ability to make effective use of debt financing.
Overall, while the stock may be overvalued, the positive trend and stable financial performance make it a good buy. However, investors need to closely monitor the stock to ensure that the trend remains favorable.
STOCK 5: POWERGRID
Last but definitely not least, is POWERGRID. Based on the given information, my evaluation is that you can consider buying Power Grid stock. The stock is currently trading above its 20-day and 50-day moving averages, implying that the stock is in an upward trend. Also, the stock's market capitalization is relatively high, and it has a low P/E ratio, which indicates that investors are willing to pay less for every unit of earnings. Additionally, the company's RoE and asset turnover ratio is commendable, but it has a relatively high leverage ratio. However, this investment should be considered with other investment options. Please remember that investment decisions must be taken considering individual financial goals, risk tolerance, and investment horizon.
That's it for today's "5 Stocks To Watch" rundown. You're never too young, or old, to start understanding the stock market. Niveshak GPT is super easy and incredibly helpful. Just login, type your question related to the stock market, and there it is! Niveshak GPT will help you with the answers. It's like having your personal stock market advisor, available 24/7!
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Note:-Investing in the stock market always carries risk. Always do your own research and consider seeking advice from a certified financial advisor.