Though the stock market crashed and the economy went into jitters after the lockdown was announced, but there were certain stocks that refused to follow the trail of destruction. These are the best stocks to buy and are consistently driving the stock market growth. Here, we have curated the list of 4 stocks which are greatly benefiting from this pandemic.
Best Stocks to Buy
Hindustan Unilever Ltd (NSE:HINDUNILVR)
The HUL results clearly indicated decline in profit by 3.93 per cent and its consolidated profits stand at Rs 1512 crore. Still the experts are bullish on this stock and recommends investors to remain invested in this stock because the company has witnessed sequential growth across many sectors.
Over the last few weeks, the company has witnessed a strong growth not just in hand-washes and sanitizers, but also in FMCG goods. Moreover, it has recently joined hands with UNICEF to provide hygiene products to tea-plantation workers based in Assam. This along with a good track record gives the investor a reason to stay invested.
Hindustan Unilever Ltd. is currently trading at a share price of Rs 2004
Abbott India Limited (NSE: ABBOTINDIA)
The battered pharma stocks seem to have witnessed an uptick after the corona virus. The outbreak has put pressure on these companies to supply medical devices. Though it is believed that the effect would be limited because the medical devices that company sells may not be used later!
Does that mean the investor should invest in this stock? Yes, as the company has a good track record of sales growth from the last three years and its recent approval by US Food and Administration regarding the molecular point of care corona virus test, which can be used by the doctors in a variety of locations to test the patients.
This device could be a strong revenue booster for the company-especially in the near term when the threat is high. The other reason to stay afloat is the company has reported an increase in dividend by more than 12% for the shareholders which signify the company is in a positive financial state.
Current Share Price: Rs 16690
Tata Consumer Products Ltd (NSE: TATACONSUM)
The stock has been given a buy rating even after the corona virus lockdown. The reason why the stock has been given an uptick is because of the portfolio of products that it supplies.
Apart from that, the company has a strong distribution network, healthy financials and strong macro traits to let investors stay invested.
Current Share price: Rs 369.6
Astrazeneca Pharma India Ltd (NSE: ASTRAZEN)
Astrazeneca share has reacted negatively to the Covid-19 crisis. This stock has unprecedented interest after the major global pandemic. The multi-pharmaceutical giant continues to shine as it offers products to fight against Covid-19. Furthermore, the company is ranked 13th in the world in terms of revenue collection.
Astrazeneca India current share price Rs 2914
Even though the investors have lost sight and there are a lot of cash disruptions in the stock market but it is believed that these are the best stocks to buy and it will help you pocket enough money even when the market has entered a bad patch.
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