Angel One reveals top 6 stocks to watch as diwali 2023 approaches

With Diwali 2023 on the horizon, investors are eager to illuminate their portfolios with strategic stock selections. As the festival approaches, Angel One has unveiled the top 6 stocks set to shine in various sectors, each showcasing promising potential for the upcoming year.

Titan Company Ltd

Titan reported Q1FY2024 total income of Rs 10,306 crore, with jewellery sales contributing Rs 9,070 crore and a YoY growth of 19.3 per cent. The watches and wearables segment also performed well, with revenue of Rs 890 crore and a YoY growth of 13.4 per cent. The eyewear segment grew by 11.1 per cent YoY, generating Rs 203 crore in revenue. The emerging businesses segment, including Titan's ventures into fragrances and fashion accessories, exhibited YoY growth of 36.8 per cent, with a revenue of Rs 76 crore.

Kalyan Jewellers

Kalyan Jewellers reported a 34 per cent YoY increase in revenue, reaching Rs 36,409 crore, in the first quarter of FY24. Gross profit also surged by 31 per cent to Rs 5,488 crores, with a healthy gross margin of 15.1 per cent. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) saw a 23 per cent YoY increase, amounting to Rs 2,691 crore, with an EBITDA margin of 7.4 per cent. Kalyan Jewellers' Profit After Tax (PAT) recorded a 35 per cent YoY growth, reaching Rs 2,179 crore.

Vedant Fashions

Vedant Fashions expanded its retail presence in Q1 FY24, adding around 85,000 sq ft of net retail area, with a total retail presence of 1.56 million sq ft as of June 2023. The company opened its largest "World of Celebration" flagship store in Bengaluru, with approximately 22,000 sq ft of retail area. Vedant Fashions recorded a growth in revenue from operations of 51.6 per cent in Q1 FY24 compared to the pre-covid period of Q1 FY20.

Bikaji Foods International Ltd

Bikaji Foods International Ltd's revenue grew by 15.0 per cent to Rs. 487.72 crore, driven by volume growth. Gross margin expanded by 840 basis points to 32.8 per cent, led by product mix and supply chain. EBITDA increased by 113.6 per cent to Rs. 658 crore, with a margin of 13.6 per cent. PAT jumped by 163.8 per cent to Rs. 414 crore, with a margin of 8.5 per cent.

InterGlobe Aviation Company

InterGlobe Aviation Ltd, the parent company of IndiGo, reported a strong financial performance in Q1 FY24. The company's revenue grew by 29.8 per cent to Rs 16,683 crore, driven by robust demand for air travel and a decline in jet fuel prices. Total expenses remained flat at Rs 14,073 crores. As a result, EBITDA increased by 626.8 per cent to Rs 5,210 crore, with an EBITDA margin of 31.2 per cent. PAT jumped by 236 per cent to Rs 3,091 crore, with a PAT margin of 18.6 per cent.

Indian Hotels Company Ltd

Indian Hotels Company Limited reported a strong financial performance for the second quarter of fiscal year 2023-24, with revenue, EBITDA, and PAT all growing significantly YoY. Revenue grew by 18 per cent to Rs 1,481 crore, driven by strong demand for hospitality services and a recovery in both domestic and international travel. EBITDA grew by 26 per cent to Rs 402 crore, with an EBITDA margin of 27.2 per cent, up 1.3 percentage points YoY. PAT grew by 37 per cent to Rs 167 crore.