Master Capital Services has determined that the two best small-cap stocks for Independence Day 2024 are Platinum Industries and Suyog Telematics. Over the past year, Suyog Telematics has experienced a 146% growth in share price, and Platinum Industries has had a 100% increase.
Since the previous Independence Day, a number of factors have coalesced in the market, and the Nifty 50’s astounding 24.23% return may be likened to our nation’s soaring flag.
Despite recent correction, the market’s overall positive structure suggests that new milestones should be achievable with a little more perseverance.
Increase In Platinum Industries
New benchmarks have been established as the market as a whole outperformed the benchmark indices.For the 78th Independence Day of 2024, which commemorates 77 years of independence since 1947, brokerage Master Capital Services Ltd.
Has chosen two small-cap stocks as their Independence Day Picks: Platinum Industries Ltd. and Suyog Telematics Ltd. The share price of Platinum Industries has increased by about 100% in just a single year, giving investors multibagger gains.
For the quarter that concluded on June 30, 2024 (Q1FY25), the company reported consolidated sales of ₹102.66 crore, a significant 66% increase from ₹61.92 crore in Q1 FY2024.
Growth In Chemical Sectors
This achievement marks not just the first time the company has crossed the ₹100 crore milestone in a quarter, but also the best sales performance in the company’s history.
The gain was driven by a 40% increase in export sales and a 27% increase in domestic sales, demonstrating their strong export capabilities and overall solid market performance.
With its emphasis on lead-free products and PVC pipes, Platinum Industries is positioned to benefit from India’s 2026 lead ban, according to Master Capital Services.
Platinum Industries is expected to have significant growth in the specialty chemicals sector. The stock, with a target price of ₹401.7 and a 30x P/E FY25E, is recommended as a buy due to its strong R&D strategy and planned facility expansions. The price of a share of Platinum Industries closed 5.05% down on Wednesday at ₹340.15.
Suyog Telematics Ltd
Similarly, multibagger stock Suyog Telematics has surged by more than 146% in the last year. Suyog Telematics’ business is to supply telecommunications goods and services to the mobile telecom sector.
The company provides a range of telecommunication equipment, such as fiber cable, diesel generators, earth strips, cables for energy transmission, and galvanized poles, in compliance with the different specifications supplied by the clients.
The brokerage thinks the company is well-positioned for development because of BSNL’s comeback and the impending deployment of 6G, which will drive demand for 600,000 new towers.
The target price, based on a 22x P/E valuation of the company for FY26, is ₹1,857 with an FY26E forecast. Suyog Telematics’ stock price ended Wednesday’s trading session 1.10% higher on the BSE at ₹1,470.90 per share.
