Best stocks under Rs. 1000 in 2024

Last Updated on Jan 1, 2024 by Harshit Singh

Does investing in India’s top-performing stocks mean emptying your wallet? Think again! Contrary to popular belief, you don’t need deep pockets to find lucrative opportunities in the stock market. In fact, plenty of high-potential stocks under Rs. 1,000 are listed at affordable prices waiting to be discovered.

The only catch? You need to put in a little effort to uncover these hidden gems. In this blog, we’ve done the groundwork for you and identified the best stocks under Rs. 1,000 using Tickertape Stock Screener.

Stock with highest 1Y return

Note: The information is dated 1st January 2024. We have listed the best stocks under Rs. 1,000 across different market capitalisations based on the following parameters:

• Stock Universe – Nifty 500
• Close price under Rs. 1,000
• 1Y return – sorted from high to low
• 5Y CAGR

This list of best stocks under Rs.1,000 across different market capitalisations emphasises the consistent returns generated, as evidenced by the 1Y return and 5Y CAGR. Although investors often prefer large-cap stocks for their stability, small-cap stocks have demonstrated impressive short-term returns.

Therefore, if you’re looking for the best stocks for the long term, make sure to consider the 5Y CAGR while selecting the stocks. At last, for an informed investment decision, it is important to conduct research or seek professional advice.

Stocks with highest net profit margin

Note: The information is dated 1st January 2024. We have listed the best stocks under Rs. 1,000 based on the following parameters:

• Stock Universe – Nifty 500
• Close price under Rs. 1,000
• Net profit margin – sorted from high to low
• 5-yr average net profit margin

With a net profit margin, an investor can ascertain whether the company is generating enough profit. Companies with positive net profit margins indicate that the company’s operating and overhead costs are in check.

Sometimes, despite the positive net profit margin for FY, the average net profit lies in the negative, indicating that the company’s revenue may be increasing along with the operating costs. Therefore, considering a 5-yr average net profit margin is important, as it will help you ascertain companies with healthy net profit margins over the years.

Stocks with highest dividend yield

Note: The information is dated 1st January 2024. We have listed the best stocks under Rs. 1000 based on the following parameters:

• Stock Universe – Nifty 500
• Close price under Rs. 1,000
• Dividend yield – sorted from high to low
• Dividend per share
• 3-yr historical dividend growth – set from 0 to high

A company usually announces a dividend, the portion of a profit, to pay its valued shareholders. It usually occurs when a company is maintaining a profitable balance sheet. The dividend yield is the percentage of profit to be distributed per share. For example, if a company with a stock price of Rs. 500 declares a dividend of Rs. 50 per share. In that case, the stock’s dividend yield will be 50/500*100 = 10%.

If you want to identify stocks that have generated consistent dividends, check out the 3-yr historical dividend growth. It indicates the percentage by which a company’s dividend has grown over the last three years. The higher these indicators, the better it is.

Stocks with highest Return on Equity (ROE)

Note: The information is dated 1st January 2024. We have listed the top stocks under Rs. 1,000 based on the following parameters:

• Stock Universe: Nifty 500
• Close price under Rs. 1,000
• ROE – sorted from high to low
• 5-yr average ROE – set from 0 to high

The Return on Equity (ROE) metric reflects the level of profitability that a company achieves in relation to its shareholders’ equity. It gauges the efficiency with which a company utilises its equity financing to generate profits. A higher ROE signifies better performance in this regard.

Conclusion

Relying solely on one parameter to evaluate a stock may offer a partial picture. For example, a stock may have a high dividend yield in FY 2022 but also carry a significant debt burden and experience declining net profit margins. Therefore, before buying any stock, it’s important to consider multiple parameters and financial ratios. Whether looking for the best stocks for a long-term or short-term trade, with Tickertape Stock Screener, you can identify good stocks at low prices.

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Harshit Singh

Content Strategist at Tickertape

Hey there, I’m Harshit Singh Mahey! With eight years of experience as a Content Strategist, I’ve had the pleasure of working with a Fortune 100 company and building three successful startups from the ground up.

As an investment fanatic, I’ve dabbled in early-stage startups, mutual funds, gold, stocks, smallcases, and real estate to identify which assets generate the highest ROI. At Tickertape, I’m dedicated to presenting my learning and providing insightful suggestions to help my readers make sound investment decision.

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