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Top 5 stocks under Rs 100 to invest in 2024

stock market
06 Mar 20246 mins readBy MOFSL

Best Stocks Under Rs 100 in India 2024

Many publicly traded companies offer shares priced at less than Rs 100 per share. These stocks are considered affordable, making them an appealing option for retail investors who may not have substantial capital.

Investors actively search for the top stocks to purchase today in India priced under Rs. 100. For new investors just entering the stock market, these can prove to be the best stocks to buy today in India for the long term.

Shares priced below Rs 100 allow you to begin their investment journey with a smaller initial investment, and there's potential for these stocks to deliver returns that outperform the broader market.

Factors to consider before investing in a 100 rupee share

Here are the top factors you should consider before you buy a share that is under Rs 100 from the stock market:

Value investing: You don't need substantial capital to adopt a value investing approach. What matters more is your commitment to a long-term perspective in the stock market and your willingness to exercise patience.

Employ a low-risk investment strategy: One effective strategy involves building long-term capital by acquiring and holding the best stocks priced below 100 Rs. Value investments are known for their lower volatility, which can contribute to the steady growth of your investment portfolio.

Research and diligence: Prior to making any investment, you must perform comprehensive research and analysis, irrespective of the stock's price. Evaluate financial indicators such as EPS, P/E ratio, and dividend yields to gauge a company's intrinsic worth and growth potential.

Portfolio diversification and risk control: To safeguard your investments and reduce exposure to market fluctuations, diversify your portfolio by allocating funds to a variety of stocks spanning different industries and sectors. It's prudent to consider implementing stop-loss orders, which can help limit potential losses if a stock's value experiences a significant decline.

What are the best stocks under Rs 100 to buy in 2024?

IDFC FIRST Bank

IDFC FIRST Bank is an Indian private sector financial institution that came into existence as a result of the merger between the banking division of Infrastructure Development Finance Company and Capital First, a prominent non-bank financial institution in India.

This institution proudly holds the distinction of being the inaugural universal bank to introduce the practice of crediting monthly interest on savings accounts. It offers lifetime free credit cards featuring flexible terms and favourable annual percentage rates to its customers.

Over the past five years, the company has consistently achieved a profit growth of 23.0%.

Dwarikesh Sugar Industries Ltd

Dwarikesh Sugar Industries Ltd specialises in the production of sugar and related products. The company has a significant presence in multiple sectors: sugar manufacturing, power generation, and the production of ethanol and industrial alcohol. It operates as a bio-energy company, with complementary activities in sugar production and power co-generation.

Dwarikesh Sugar Industries Ltd has consistently maintained a robust dividend payout ratio of 28.6%, providing consistent returns to its shareholders.

Confidence Petroleum India Ltd

Confidence Petroleum India Ltd is in the production of LPG cylinders and serves as a prominent supplier of auto LPG throughout India. The company boasts an extensive network of bottling plants and Auto LPG dispensing stations across the country. 

In addition to its core operations, Confidence Petroleum India Ltd also provides packaged LPG cylinders and engages in LPG bottling services, catering to the needs of industrial and commercial clients.

Over the past five years, it has consistently achieved impressive profit growth, with a CAGR of 28.2%. Over the last decade, Confidence Petroleum India Ltd has maintained a median sales growth rate of 15.7%.

HFCL Limited

HFCL Ltd, short for Himachal Futuristic Communications Limited, is a versatile player in the telecom infrastructure sector. They are engaged in various aspects of telecom infrastructure development, system integration, and the manufacturing and distribution of advanced telecom equipment, Optic Fiber Cable.

Over the last month, the stock has demonstrated remarkable performance, delivering an impressive return of 24.32%.

Ujjivan Small Finance Bank Limited

Ujjivan Small Finance Bank Limited is a bank in India with a strong focus on serving the mass market. Its primary objective is to address the financial needs of those who have been overlooked or underserved, thereby contributing to the advancement of financial inclusion in the country. 

It commenced its operations as Ujjivan Financial Services Limited, functioning as a Non-Banking Financial Company in 2005, with a clear mission to provide financial services to the "economically active poor" who were not adequately served by traditional financial institutions.

Over the past five years, the company has demonstrated remarkable profit growth, achieving a CAGR of 176%. When considering the last decade, the company's median sales growth stands at a robust 24.8%, indicating consistent expansion in its revenue.

Conclusion

To sum it up, considering investments in top-performing stocks priced below 100 can provide an excellent opportunity to enter the market with a modest budget. Although these stocks may have lower price tags, they should not be underestimated as they can still offer substantial room for growth and profitability.
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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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