These 13 stocks turned Rs 1 lakh to up to Rs 8 cr in Modi 2.0. Here’s what analysts suggest for Modi 3.0

The second term of Prime Minister Narendra Modi favoured equity investors as the benchmark equity index BSE Sensex gained 86% in the last five years till May. On the other hand, broader indices, the BSE Midcap and the BSE Small-cap, surged 185% and 216%, respectively, during the same period. At least 13 stocks soared more than 10,000% during the same period.
 
With a gain of 84,604%, Diamond Power Infrastructure emerged as the top gainer on the list. Shares of the company jumped to Rs 872.45 on May 31, 2024 from Rs 1.03 on May 30, 2019. The rise indicates that an investment of Rs 1 lakh in the stock turned to Rs 8.47 crore during the period. Waaree Renewable Technologies was next on the list. The scrip surged 69,464% to Rs 2,393 in the last five years.
 
Hazoor Multi Projects, Orchid Pharma, Praveg, Patanjali Foods, Dolphin Offshore Enterprises (India), WS Industries (India), SG Finserve, Remedium Lifecare, Rajnish Retail, Lloyds Engineering Works, and J Taparia Projects also gained somewhere between 10,000% to 29,000% during the same period.
 
The latest exit polls showed that Prime Minister Narendra Modi is expected to return to power for the third straight time with an even bigger mandate. According to Axis My India-India Today exit polls 2024, the NDA is expected to bag 361-401 seats, while the INDIA bloc is expected to win 131-166 seats, and ‘Others’ to snatch 8-20 seats. Cheering the exit polls, the 30-share Sensex traded nearly 2,200 points, or 3% higher at 76,154 in the morning trade on June 3.
 
Sharing his view on the Modi government, Mohit Batra, Founder & CEO, MarketsMojo said, “The government has undertaken significant reforms over the past decade, transforming India from being part of the Fragile Five to the fastest-growing economy globally.”
 
Vikram Kasat, Head-Advisory, Prabhudas Lilladher said, “The month of June could be a defining one for the bulls, so one should make the most of this opportunity and stay a bit greedy. Last month, I kept saying “Buy the Dip”; this month’s slogan is going to be “Ride the Wave.”
 
Which stock to buy now? Brokerage Motilal Oswal Financial Services believes that the victory of NDA augurs well for the economy and capital markets as it provides stability and continuity in policy-making with a single-party majority government, which will be expected to continue pushing its economic agenda. It has identified eight such stocks that shall benefit from government focus on manufacturing, capex, and infrastructure creation.
 
The brokerage sees a 20% upside in stocks such as State Bank of India (SBI), Larsen & Toubro, BEL, GAIL, NHPC, RVNL, NMDC, and HUDCO. According to SAMCO Securities, the BJP-led government has focused on capital expenditure in its last tenure. This has helped companies from sectors like railways, defence, engineering, and capital goods. These sectors should be on investors’ radar.
 
Amar Ambani, Executive Director, YES Securities is bullish on NTPC with a target price (TP) of Rs 419. He is also positive on SBI (TP: Rs 1,000), Bharti Airtel (Rs 1,680), Texmaco Rail & Engineering (Rs 250), and GMR Airports Infrastructure (Rs 100).
 
Suman Bannerjee, CIO, Hedonova said, “The markets are riding a wave of optimism, propelled by the exit polls suggesting a decisive win for the NDA government, reflecting the sentiment driving the surge to an all-time high of 23,122. The upcoming election results could sustain this rally if the NDA wins, while any surprises might trigger volatility. Additionally, the RBI’s monetary policy decisions will be critical; a dovish stance could further boost the market, whereas a hawkish approach to curb inflation might temper gains. In the short term, investors should maintain caution and consider hedging, while a mid-term strategy should focus on a diversified portfolio, quality investments and monitoring economic indicators to adapt to fiscal and monetary policy changes.”