Five Stocks to Watch on October 17: Key Moves Driving Future Growth

Five stocks are emerging as the top selections in the present market based on noteworthy developments and future potential performance. We provides the five stocks chosen based on strategic investments, financial growth, and new opportunities, boosting their potential for the future.

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1. Reliance Industries Ltd (RIL)
   Reliance Industries continues to dominate headlines after the company approves the issue of a 1:1 bonus share scheduled for October 28, 2024. This bonus issue comes after an array of strategic steps announced at Reliance Industries’ AGM. It signals an increasing confidence in the company’s future strategies. The increase in the capital of shares authorized from Rs 15,000 crore up to Rs 50,000 crore enhances the financial capacity of the company to expand in the future. Reliance remains a dominant player in its position in the Indian market, which makes it a stock worth keeping an eye on keeping an eye on.
2. L&T Technology Services (LTTS)
   LTTS has seen an average 1.3 percent growth in its Q2 profits at Rs319.6 crore, fueled by strong demand from the European automobile industry. With an aim of 8-10 percent growth in revenue in FY25 and a resolute goal to increase profit margins, LTTS is positioned for steady growth. The company’s steady performance and potential growth in engineering and technology make it a top choice.
3. Bikaji Foods International
   Bikaji Foods is making bold moves in the fast meal service (QSR) sector, with an Rs131.01 crore investment to acquire the majority part of Hazelnut Factory Food Products. This acquisition is a strategic one that will broaden Bikaji’s offerings and increase its place in the fast-growing QSR market. With growing demand from consumers for a variety of food options, Bikaji’s strategy for growth could result in substantial returns.
4. Oberoi Realty
   Oberoi Realty’s plan to fundraise Rs1,500 crore via the sale of non-convertible debentures (NCDs) highlights its determination to grow its real estate portfolio. The real estate sector in Mumbai displays constant growth, and the company’s strategies for expansion through private placement position it as a significant competitor in the industry. Capital raises will fund future projects and improve its position in the market.
5. RVNL (Rail Vikas Nigam Limited)
   RVNL was recently announced as the cheapest bidder for the contract worth Rs270 crore for Maharashtra Metro Rail Corporation Ltd. The contract will see the construction of 10 elevated metro stations as part of Nagpur Metro Rail Phase 2. Nagpur Metro Rail Project Phase 2. This victory strengthens RVNL’s position in infrastructure development, especially in the transport sector, making it a viable alternative for investors interested in the city infrastructure sector.

These selections of stocks reflect recent financial announcements and announcements that position the companies for future expansion.

Also Read: Top Stock Picks for October 16 by SMJ (Stock Market Journal)