Best Stocks To Buy In January 2024

In this article, we will discuss:

Welcome to the world of trading, where opportunities abound and fortunes can be made. As we step into the month of January 2024, it's time to explore the top-performing stocks that could potentially shape your financial success. These carefully selected stocks have caught the attention of market experts for their strong growth potential, solid fundamentals, and positive outlook. Whether you're a seasoned investor or just starting your journey, understanding the best stocks for the month can be a key factor in making informed decisions. 

In this guide, we'll unravel the reasons behind the spotlight on these stocks, providing you with valuable insights to navigate the dynamic landscape of the stock market. Get ready to discover opportunities that may influence your investment strategy and help you make the most of the evolving market trends in the coming month. Let's embark on this financial journey together and explore the potential of the top best stocks for January 2024.

List of Best Stocks to buy January 24

Sr. NoCompany NameBSE Scrip CodeNSE SymbolCMP - 3rd Dec 2024
1Orchid Pharma524372ORCHPHARMA₹ 739.20
2Mukand Ltd500460MUKANDLTD₹ 203.50
3Century Enka Ltd500280CENTENKA₹ 448.00
4Minda Corporation Ltd538962MINDACORP₹ 380.00
5Zensar Technologies Ltd504067ZENSARTECH₹ 579.10

Orchid Pharma

Orchid Pharma is a pharmaceutical company engaged in the development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The Co has a multi-therapeutic presence across segments like anti-infectives, anti-inflammatory, central nervous system (CNS), cardiovascular segment (CVS), nutraceuticals, and other oral and sterile products. The company’s API facility and formulations facility is located in Chennai and its product portfolio consists of API - Cephalosporins - Orals, Cephalosporins - Injectables, Veterinary Products, and non-antibiotics.

The company is working on backward integration into the raw material supply chain by setting up a 7ACA plant, ensuring supply line security and cost savings. It is also moving forward with forward integration into the ethical business by starting a new division for critical care products for distribution and sales of medicines to the hospital segment. The shares of the company are witnessing a surge in its delivery volume. One can buy the stock at --- with a stop loss of 650.

Mukand Ltd

Mukand Ltd. is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery. It is a part of the Bajaj Group of companies, one of the most dynamic business groups in India. Mukand’s alloy steel is widely used in the automobile and auto component industry for products such as fasteners, bearing transmissions, crankshaft, steering components, suspension springs, fuel injection equipment, including common rail diesel injection systems, braking systems, drive axle mainly velocity joints, seamless tubes, etc…

The company also exports its stainless steel products to developed and developing countries. It is also engaged in the business of design, manufacture, assembly, and commissioning of industrial machinery, heavy-duty cranes, and bulk material handling equipment. The company undertakes execution, supervision, and commissioning of industrial and infrastructure projects, manufacture of heavy machinery for process plants in ferrous and non-ferrous industries, and turnkey projects.

The shares of the company are witnessing a surge in its delivery volume. One can buy the stock at --- with a stop loss of 180.

Century Enka Ltd

Century Enka Limited, is one of the few Synthetic Yarn producers boasting complete integration of advanced technologies. Positioned as a top player in the domestic textile sector, Century Enka Limited has a rich history dating back to 1965, known for its production of Nylon Filament Yarn (NFY) and Nylon Tyre Cord Fabric (NTCF). Having successfully cleared our stringent value assessment, Century Enka demonstrates resilience and meets our rigorous criteria. The current price-to-book ratio stands below 0.8x which is attractive. As a prominent leader in the textile sector, Century Enka is poised to benefit from the favourable growth future prospects. One can buy the stock at --- with a stop loss of 385.

Minda Corporation Ltd

Minda Corporation Ltd is one of the leading automotive component manufacturing companies in India with a pan-India presence and international footprint. It is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. MCL is among the market leaders and commands a strong market share of around 40% in 2W lock sets, and wiring harness for 2W, 3W, tractors, and CVs. The product portfolio of different segments includes Mechatronics and Information and Connected systems. As of FY 23, the company derives 84% of its revenues from India, 8% from Europe & America, and the rest from Southeast Asia.

The company has delivered a strong financial performance in Q2FY24 with the highest-ever quarterly revenue of Rs. 1,196 crores. It has secured its highest-ever lifetime orders of more than ~Rs.6,500 crores in H1FY24 with electric vehicles (EVs) constituting more than 30% of the orders won during the quarter. As the stock has seen a price-volume breakout and is in a strong momentum, we recommend buying the stock at the current market price of --- with a stop-loss of 300.

Zensar Technologies Ltd

Zensar Technologies is a mid-size IT software and infrastructure services and solutions provider with industry expertise across manufacturing (hi-tech and industrial), consumer services, insurance, banking and financial services. It is a part of the Mumbai-based RPG group and is headquartered in Pune, India. The company is present across the whole value chain of IT and IT-enabled services from IT consulting, application development and maintenance to package implementation and BPO operations. Zensar Tech has seen a consistent increase in revenue and profits over the past few quarters.

After the US Fed signaled to cut rates thrice in 2024, the shares of Zensar Technologies Ltd. spiked more than 10% supported by a 10x spike in volumes compared to their 5-day average volumes. The stock is also in momentum in the last one year when compared to the Nifty 500. We recommend buying the stock at --- with a stop-loss of 480.


In conclusion, selecting the best stocks for January 2024 involves careful consideration of potential market trends and company performance. Orchid Pharma stands out for its promising growth in the pharmaceutical sector, showcasing potential for investors. Mukand Ltd, with its strategic position in the metal industry, presents an optimistic outlook for the upcoming month. Century Enka Ltd's strong presence in the textile sector adds to the list of promising stocks, offering stability and growth prospects. Minda Corporation Ltd, known for its innovative automotive solutions, is positioned well for positive returns. Investors should remain vigilant, monitoring market dynamics and company updates for informed decisions. Diversification and a long-term perspective remain key in navigating the dynamic landscape of stock trading in January 2024.

Disclaimer: INVESTMENT IN SECURITIES MARKET ARE SUBJECT TO MARKET RISKS, READ ALL THE RELATED DOCUMENTS CAREFULLY BEFORE INVESTING. The asset classes and securities quoted in the film are exemplary and are not recommendatory. SAMCO Securities Limited (Formerly known as Samruddhi Stock Brokers Limited): BSE: 935 | NSE: 12135 | MSEI- 31600 | SEBI Reg. No.: INZ000002535 | AMFI Reg. No. 120121 | Depository Participant: CDSL: IN-DP-CDSL-443-2008 CIN No.: U67120MH2004PLC146183 | SAMCO Commodities Limited (Formerly known as Samruddhi Tradecom India Limited) | MCX- 55190 | SEBI Reg. No.: INZ000013932 Registered Address: Samco Securities Limited, 1004 - A, 10th Floor, Naman Midtown - A Wing, Senapati Bapat Marg, Prabhadevi, Mumbai - 400 013, Maharashtra, India. For any complaints Email - Research Analysts -SEBI Reg.No.-INHO0O0005847

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