Investing gems under Rs 100: promoters increasing stake and high ROCE; keep on your watchlist!

Brace yourselves for the coming month of October 2023, as we present to you the select trio of stocks that could very well be the stars of your investment portfolio

In the thrilling tapestry of September's financial markets, the NSE benchmark Nifty 50 index embarked on a heart-pounding journey, scaling the dizzying heights of 20,222.45. Yet, as the month progressed, it was as if the Nifty 50 were riding a turbulent rollercoaster, veering through volatile twists and turns. By the month's exhilarating conclusion, it had gracefully descended, resting atop the 19,600 summit, bearing gains of a formidable 2 per cent.

But the spectacle didn't end there. While the Nifty 50 had its ups and downs, the broader markets refused to be overshadowed. In a show of undeniable strength, the Nifty Mid-Cap surged, notching an impressive 3.63 per cent increase, while the Small-Cap segment outshone them all, achieving a remarkable ascent of over 4 per cent. These were truly electrifying performances, showcasing the tenacity and resilience of the Indian stock market.

And if that weren't enough, a final, jaw-dropping act unfolded on the very last trading session of September. The India VIX index, often the harbinger of volatility, took a breathtaking plunge of over 10 percent, slipping gracefully below the hallowed 11.5 mark. Bulls across the market arena celebrated this news, for it signaled smoother days ahead.

But wait, there's more! In a quest for the hidden gems of the stock market, we've meticulously curated a list of the Top 3 stocks priced under Rs 100. These stocks come bearing the gift of heightened promoter confidence, as they've seen a significant increase in promoter stakes. To sweeten the deal, each of these stocks boasts an enviable Return on Capital Employed (ROCE) that stands tall above the 15 per cent mark.

Ladies and gentlemen, brace yourselves for the coming month of October 2023, as we present to you the select trio of stocks that could very well be the stars of your investment portfolio.

Disclaimer: The article is for informational purposes only and not investment advice.