Tale of the Tape 

Hola Amigos. 

Markets barely moved. Nifty and Sensex cooled off from their opening high to end with minor cuts. Midcaps were flat, while Smallcaps (+0.2%) saw minor gains. The advance-decline ratio was split evenly. Check out the Stocktwits Sentiment Meter:

Most sectors ended in the red. Metals (-0.8%) and PSU Banks (-0.6%) witnessed the most selling pressure. Meanwhile, Auto (+0.6%), Oil & Gas (+0.5%) and FMCG (+0.5%) outperformed.

2024 is coming to an end. What should you be betting on as the new year starts? Read our top story for Mirae Asset’s top 3 picks.

This healthcare stock is up +2x over the last month. How much juice does it have left? More details below.

Amber Enterprises, Tata Investment Corporation and Biocon saw big moves today. Check out their charts below to find out why.

ITC (+1%) was in focus after Antique upgraded its target price to Rs 563 p/sh; +18% from current levels.

PG Electroplast rallied +5% intraday after partnering with Whirlpool to manufacture washing machines.

Greaves Cottons jumped +7% after its electric mobility filed papers for its IPO. PS: we flagged this as a growth trigger a little while ago!

Aarti Drugs soared +12% after the USFDA gave a green light for its API facility in Tarapur.

Gulf Oil Lubricants (+3%) gained after signing a supply deal with private fuel retailer Nayara Energy.

Here are the closing prints:

Stock
New Year Picks

As we wrap up this year, what does 2025 hold in store for us? Also, more importantly: what stocks should you be looking at? Here are Mirae Assets’ top 2025 stock picks: 

1) Larsen & Toubro: The stock is up just +3% YTD, a rough year that was hurt by the overall slowdown in GOI + private capex. But things are set to bounce back in 2025. FYI - the firm’s order book currently stands at an all-time high of Rs 5.1 lakh cr. It’s also guided for 15% revenue growth and a ~12% growth in order intake for FY25. Finally, even if GOI’s capex takes time to restart, its Middle East biz looks strong enough in the short-term. PS- Mirae Asset has a target price of Rs 4,550 p/sh; +25% from current levels.

2) Dee Development: The upcoming capacity expansion at its Gujarat facility is paving the ground for MAJOR growth. This is because it will help exports (50% of the firm’s current order book) be shipped out at lower costs, leading to a margin boost of 100-200 bps in 2025. Dee is also expecting a huge topline boost. A recent Rs 140 export order win has propelled its order book to its highest-ever at Rs 1,400 cr. The brokerage sees a whopping +41% upside from current levels.

3) Wonderla Holidays: The amusement park operator is projecting a rise in footfalls with its new park in Bhubaneswar another park in Chennai (opening in FY26). It’s also pivoting towards getting more non-ticket revenue, guiding for a ~10% ARPU bump every year as a result. Finally, it’s investing Rs ~2,000 cr to open parks in new markets like UP, Gujarat and Punjab over the next five years. Mira Asset sees a +29% upside from today’s close.

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