Interest in India has been picking up steadily among investors, thanks to its growing economy , strong stock market performance and burgeoning population . As the Diwali festive season gets underway in the South Asian powerhouse, several sectors — and stocks — are expected to do well, according to analysts at equity research firm Kotak Securities and asset management house Mirae Asset. Samvat 2081 — which starts on the day of Diwali on Oct. 31 — marks the start of the Hindu new year.
Gravita India Material recycling company Gravita India was another stock on Kotak's list. The research house likes that Gravita's pan-India presence across 22 states "provides sourcing benefits and fungibility." Other factors in its favor include regulatory tailwinds promoting recycling and the formalization of reverse charge mechanism on metal scrap, Kotak's analysts wrote in a Sept. 30 note. Looking ahead, they expect Gravita's earnings per share to grow 31.