Independence Day 2024: Master Capital Services Picks Platinum Industries and Suyog Telematics as Small-Cap Stars
As we celebrate Independence Day, let’s look at the stock market’s impressive journey over the past year. The Nifty 50 index delivered a remarkable 24.23% return, mirroring the upward trajectory of our nation’s flag. Although the market has seen some consolidation recently, the overall positive trend suggests new milestones are on the horizon.
Independence Day Stock Picks
This year, brokerage firm Master Capital Services has chosen two small-cap stocks as their Independence Day picks: Platinum Industries Ltd and Suyog Telematics Ltd. These companies are poised for growth and could be promising investments as India marks its 77th year of independence.
Platinum Industries Ltd
In the past year, the share price of Platinum Industries has nearly doubled, providing investors with substantial returns. The company reported consolidated revenue of ₹102.66 crore for the quarter ending June 30, 2024 (Q1FY25), a significant 66% increase from ₹61.92 crore in Q1 FY2024. This marks the best sales performance in the company’s history and the first time it surpassed the ₹100 crore mark in a quarter.
Growth was driven by a 27% increase in domestic sales and a 40% rise in export sales, showcasing the company’s robust export capabilities and overall market performance. Master Capital Services believes Platinum Industries is well-positioned for growth in the specialty chemicals sector, particularly with its focus on lead-free products and PVC pipes ahead of India’s 2026 lead ban. With a strong R&D strategy and planned facility expansions, the brokerage rates the stock a buy with a target price of ₹401.7, based on a 30x P/E FY25E.
On Wednesday, Platinum Industries’ share price closed 5.05% lower at ₹340.15 per share on the BSE.
Suyog Telematics Ltd
Suyog Telematics is another multibagger stock, having risen by over 146% in the last year. The company supplies various telecommunications products and services, including fiber cables, diesel generators, earth strips, transmission cables, and galvanized poles.
With the anticipated revival of BSNL and the future rollout of 6G technology requiring 600,000 new towers, Suyog Telematics is in a strong position for future growth. The brokerage values the company at 22x P/E on an FY26 basis, with a target price of ₹1,857.
On Wednesday, Suyog Telematics’ share price closed 1.10% higher at ₹1,470.90 per share on the BSE.
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