Muhurat Trading 2024: Top NIFTY50 stocks with the highest return since Samvat 2080

India is gripped in the festive season with the biggest festival in the country - Diwali around the corner. Though the markets have been on a downward spiral in the last couple of weeks, a decent pullback on Monday has once again lifted the spirits of market participants.

With hopes for this momentum to continue, market participants are geared for the Muhurat Trading session of 2024, scheduled for Friday, November 1 this year, between 6 and 7 pm. This one-hour trading period will signify the start of the new year in the Hindu calendar, known as Samvat 2081.

In the previous year, the Muhurat trading session was held on November 12, 2023. The NIFTY50 and SENSEX have gained 25.48% and 23.45%, respectively. Since then, the NIFTY50 logged a 5,000-point journey registering a new record all-time high of 26,277.35. Reflecting a similar pattern, SENSEX soared by approximately 15,300 points.

Currently, NIFTY50 and SENSEX are at 24,466 and 80,369 respectively as of 29 October closing. About 86% of stocks from the NIFTY50 index have delivered positive returns from Muhurat Trading. Among the constituents of NIFTY50, Trent, Bharat Electronics, and Bajaj-Auto have topped the chart with their attractive performance compared to last year’s Muhurat Trading session.

Trent Ltd

The stock is currently trading at ₹7,343.80 with a market capitalisation of ₹2,60,366 crore. The stock price has soared massively, with gains of 194.82% making it a top performer from the last Muhurat trading session, while in one year, it has logged 260.93% returns.

In FY24's financial results, the company's revenue jumped by 50.14% to ₹12,375 crore, and its net profit increased to ₹1,477, up by a staggering 274.87%. The company saw a 16% OPM, driven by Zudio store expansion and strong LTL sales. However, its non-apparel formats (Landmark, Booker India) and JVs like Star Bazaar incurred losses.

In Q1FY25, Trent's net profit increased by 131% year-over-year to ₹342 crore, while revenue from operations grew by 57% year-over-year to ₹3,992 crore. The company has expanded its reach to 178 cities, with emerging categories accounting for over 20% of its revenues. The company reported that overall operating performance has improved significantly, supported by its brands, staples, and fresh & general merchandise offerings.

Bharat Electronics Ltd

In FY24, the company’s revenue surged by 14.28%, reaching ₹20,268 crore, while its net profit rose to ₹3,985, marking an increase of 33.45%. BEL's margin went beyond government guidelines of 7.5% due to operational efficiency, negotiation, cost savings, and innovation. The company kept a revenue target of 15%, an EBITDA margin of 23% to 25%, and an order inflow of around ₹25,000 crore for FY '25.

The September 2024 quarter standalone revenue stood at ₹4583.4 crore, up 14.78% as compared to ₹3993.3 crore during the corresponding quarter last year. Net Profit recorded in the quarter ended September 2024 rise to 34.34% to ₹1091.2 crore compared to ₹812.2 crore in corresponding previous quarter. Operating profit surged to ₹1555.3 crore from the corresponding previous quarter of ₹1174.8 crore.

Bajaj Auto Ltd

FY24 was a record year for the company with the highest-ever revenue, EBITDA, PAT, free cash flow, spare revenue, Pulsar volumes, 3-wheeler volumes, and KTM volumes in India. The company reported revenue of ₹44,870 crore with an annual growth of 23.08%, and net profit was at ₹7,708 crore, growing by 27.19%. Commercial vehicles and 3-wheeler BU maintained a market share of 78% in FY24. Companies margins improved by 230 bps at the EBITDA level.

In Q2FY25, the company’s revenue jumped 22.22% to ₹13,247 crore YoY recording a new high. The company mentioned that it has recorded the highest profit after tax (PAT) of ₹2,005 crores with a growth of 21% post-one-time exceptional deferred tax provision. After the one-time exceptional deferred tax provision, net profit shows a decline of 31.43%.

The company is upbeat about the upcoming launches in the Chetak range and expects to enhance market share and margin structure.