It is now in everybody’s mind what it will be like after the declaration of result of LOK SABHA election on 4.6.2024 and what will be its impact on the stock market. It is now hotly discussed whether a stable govt will be formed or more specifically BJP will return to power or if there is any chance of a coalition govt being formed. In the whirlwinds of such domestic events an attempt has been made to select a few stocks which may remain steady and rise irrespective of the result of the Lok Sabha election 2024. 

Hindalco which is trading around ₹660 is the first pick. The company is a manufacturer of aluminium and aluminium products . Aluminium prices have risen approximately 20% in the recent past in the LME and other metal exchanges and it is still on the upmove. As the fortune of the company is linked with the aluminium price internationally, domestic events may not affect its share price. Moreover, the company is in an expansion mode. Novelis, its wholly owned subsidiary, declared good financial results recently and Hindalco has decided to go for its IPO (Novelis) to procure funds to expand the businesses of Novelis. Its share price in all likelihood will move up. 

National Aluminium Co, (NALCO) which is trading around ₹200 may also be considered on the same ground of rise of alumina and aluminium prices which the company produces and sells in national and international markets. However, the share price of Nalco has recently moved up 50% from ₹137 on 20th March 2024 to ₹200 as on 18th May 2024. The share price of NALCO may still remain steady even in market fluctuations. 

For the same reasons Vedanta which is a producer of aluminium, zinc, silver, iron ore and iron, oil & gas etc (Vedanta holds 65% stake in Hindustan Zinc) and also due to its demerger issues, may remain steady in the ups and downs of the market. It may be noted that this site reported positively about this company on 22nd April, 2024 due to its demerger when it was trading around ₹386. It has since risen to ₹458 as on 18th May 2024. 

Another company, the engineering and construction giant, Larsen & Toubro (L&T) is moving sideways at around ₹3450 for the past few weeks when the prices of other engineering companies like ABB, SIEMENS, THERMAX etc and construction companies like NCC, IRCON have substantially moved up indicating growth prospects of this sector. As such the stock price of L&T is likely to move up in the days to come.