Stocks to buy: These 5 stocks could jump up to 40% in 1-2 years, says Pankaj Pandey of ICICI Direct
Indian stock market remains attractive, say experts, suggest stocks to buy for long term Recently Fitch Ratings has raised its forecast for India's economic growth to 7 per cent for the next financial year (FY25). The ratings agency underscored that India witnessed a GDP growth of more than 8 per cent for three consecutive quarters and the growth growth momentum may slightly moderate in the final quarter of the current fiscal year due to which, India's growth could come at about 7.8 per cent for FY24.
Also Read: Fitch raises India GDP growth estimate for FY24 to 7.8% Pankaj Pandey, the head of retail research at ICICI Direct advises buying quality stocks at this juncture for the long term. He recommended the following five stocks to buy for the next one to two years.
Take a look: Gabriel India (GIL) is a global top-10 shock absorber manufacturer serving two-wheelers (2-Ws), three-wheelers (3-Ws), passenger vehicles (PVs), commercial vehicles (CVs), railway and aftermarket segments. The company has reported significant market share gains in the 2W segment and is up from 25 per cent in FY22 to 32 per cent primarily tracking outperformance at its key clients i.e.
TVS, HMSI (Honda Motorcycle and Scooter India) and continues to remain the market leader with over 80 per cent market share in the electric 2W space in the high-speed category with all prominent EV players like Ola Electric, TVS, Ampere, Ather, etc., as its key clients. In the PV space, its market share remained steady at 24 per cent with the company’s strong intent to increase it to 30 per cent in coming years.
However, the company’s market share in the overall utility vehicle (UV) space improved to 35 per cent aided by new launches like XUV 700, Thar, etc. To
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