The brokerage firm Way2Wealth has identified several promising stocks as top Budget 2024 technical investment picks. Based on their technical strength and potential for decent returns, these stocks include BHEL, NTPC, AU Small Finance Bank, and Adani Green Energy. Here’s the list: Budget Picks

Budget Technical Picks: BHEL, NTPC among 8 investment ideas with up to 22% upside - Budget Picks

Jefferies rated Adani Green Energy ‘Buy,’ expecting leverage reduction and significant profit growth.

Jefferies initiates coverage on Adani Green Energy with buy rating, sees 18% upside

Adani Green Energy’s net profit surged 95% YoY to Rs 629 crore in the April-June quarter.

Adani Energy, Adani Green Shares Jump As Q1 Revenues Swell

Adani Green Energy reports ₹323 crore net profit, aims for 50 GW capacity by 2030 with 95% profit rise.

Adani Green Energy Q1 profit up nearly 95% to ₹629 crore

Adani Green Energy Q1 Results: Net Profit Surges 95%

Adani Green Energy rallied 7.64% to Rs 1847.15 after the company’s net profit jumped 94.74% to Rs 629 crore in Q1 FY25 as compared with Rs 323 crore in Q1 FY24.

Adani Green Energy jumps after Q1 PAT soars 95% YoY to Rs 629 cr

Adani Energy Solutions said its transmission business saw a robust system availability of 99.7 per cent in Q1FY25, as it added 190 ckm to the operational network during the quarter with a total network at 21,187 ckm.

Adani Green Energy, Adani Energy Solutions to share Q1 results today; key details

Adani Green Energy Q1 earnings: The Adani Group firm reported a 95% increase in its June 2024 quarter profit. Profit rose to Rs 629 crore in Q1 against Rs 323 crore in the June 2023 quarter.

Adani Green Energy Q1 earnings: Net profit rises 95%, stock gains

Adani Green Energy’s Q1 FY25 profit soars 95%, plans world’s largest 30-GW renewable energy plant at Khavda, Gujarat.

Adani Green Energy Q1 results: PAT up 95%, revenue up 24%

Adani Green Energy Q1 Result Updates: Adani Green Energy Ltd, the renewable energy arm of Adani Group reported a 95% increase in consolidated net profit for the quarter ended June 30, on the back of higher revenues led by capacity addition.

Adani Green Energy Q1: Net profit surges 95% to Rs 629 crore

Adani Green Energy consolidated net profit rises 38.51% in the June 2024 quarter

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Adani Green Energy is a power generation company.It builds and operates solar and wind energy power plants in India