Table of Contents

Summary

Today we in this post are discussing about best 5 government penny stocks which have potential for touch new high after announce of Budget., The budget for 2024 is called an “interim budget” because we have elections next year. The full budget for the year 2025 will be shared on February 1, 2024, after we have a new government from the elections.

The name of Stock are suggested by observing all fundamental and technical aspects as well as Govt may announce some special connection or package for these sector and Stock may be given good profit in short terms after Union Budget 2024.

Rashtriya Chemicals & Fertilizers (RCF)

Govt may announce Public Linked Scheme the sector of Chemicals & Fertilizers, there is best one of stock Rashtriya Chemicals & Fertilizers (RCF). In this sector Budget-related subsidies might increase and benefiting Public Linked Scheme. RCF may reach new highs if subsidies rise by 30 to 40 points. If your are RCF holding into your portfolio, there are chances to rise good profit.

Stock Price Details
Open	179.00
High	190.00
Low	178.75
Close	177.30
Average Price	185.52
Volume	1,86,88,246
Open Interest	–
Bid / Ask	0.00 / 185.40
Upper / Lower Circuit	141.85
52 Week High / Low	89.50
Quality	3/5
Valuation	2/5 (Expensive)
Financial	Na
Fundamental Ratios
Market Cap	Rs 10,170 Cr
Sector Return	56.69%
Market Return	19.13%
1-year Return	47.73%
Valuation Ratio	22.80
PE Ratio	2.08
Price to Book Value	–
PEG Ratio	9.12%
ROE (Latest)	15.18
Growth
EV to EBIT	11.29
EV to EBITDA	13.64%
ROCE (Latest)	2.07
Finance
EV to Capital Employed	0.51
EV to Sales
Dividend	2.09%
Dividend Yield

Shareholdings Patterns

INDEX	Dec 23	Sep 23
Promoters	75.00%	75.00%
FIIs	2.92%	2.55%
Mutual Funds	0.05%	0.04%
Insurance Companies	0.21%	0.21%
Other DIIs	0.09%	0.09%
Non Institution	21.73%	22.11%

Gujarat Gas

Gujarat Gas is good stock in Portfolio before election 2024. This Stock is getting benefits as it is connecting to the Suez Canal issue with potential dual benefits. Gujarat Gas stock has demonstrated a robust performance with positive returns compared to the sector and market.

Stock Full Details

Parameter	Value
Open	554.00
High	555.85
Low	547.60
Close	553.60
Average Price	552.32
Volume	4,71,413
Open Interest	1,81,41,250
Bid / Ask	554.60 / 0.00
Upper / Lower Circuit	498.25
52 Week High / Low	397.05
Quality	4/5 (Good)
Valuation	2/5 (Expensive)
Financial	1/5 (Expensive)
Market Cap	Rs 37,861 Cr
Sector Return	40.59%
Market Return	19.13%
1-Year Return	21.85%
Valuation Ratio	30.37
PE Ratio	5.38
PEG Ratio	17.70%
ROE (Latest)	23.78
EV to EBIT	18.48
EV to EBITDA	24.37%
ROCE (Latest)	5.80
EV to Capital Employed	2.46
EV to Sales	–
Dividend Yield	1.20%

Shareholdings Patterns

Shareholdings Patterns	Dec 23	Sep 23
Promoters	60.89%	60.89%
FIIs	3.34%	3.80%
Mutual Funds	6.56%	6.56%
Insurance Companies	7.39%	6.45%
Other DIIs	7.05%	7.09%
Non-Institution	14.77%	15.20%

Also read Yes Bank Share price Target 2024,2025,2030

RITES (Indian PSU Company)

RITES has Listed among the top 200 international contractors and Specialized in laying down railway tracks and modernizing them. The company has a significant order book and could reach new highs. It is good for portfolio before budget 2024 :-

Stock Price Details
Open	559.90
High	657.40
Low	558.45
Close	553.45
Average Price	617.63
Volume	1,86,32,806
Bid / Ask	0.00 / 629.00
Upper / Lower Circuit	442.80 / 664.10
52 Week High / Low	311.30 / 657.40

Fundamental Ratios
Market Cap	Rs 13,905 Cr
Sector Return	387.4%
Market Return	19.13%
1 year Return	84.11%
Valuation Ratio	27.64
PE Ratio	5.15
PEG Ratio	18.64%
ROE (Latest)	16.23
EV to EBIT	14.68
EV to EBITDA	Negative
ROCE (Latest)	-14.72
EV to Capital Employed	4.03
EV to Sales	–
Dividend Yield	3.65%

Shareholdings Patterns
	Sep 23	Jun 23
Promoters	72.20%	72.20%
FIIs	3.98%	3.45%
Mutual Funds	5.24%	6.98%
Insurance Companies	7.40%	8.25%
Other DIIs	0.08%	0.02%
Non Institution	11.10%	9.11%

Also read Tata Motors Share Price Target 2025, 2030, 2040, 2050

NBCC (National Buildings Construction Corporation)

NBCC is a government company with shares priced is abut Rs 100/-. It has Potential to touch his new high as reasons for growth include the Govt Scheme like ‘Pradhan Mantri Awas Yojana’ and company is debt-free and having a substantial market cap. Its historical performance includes excellent dividends and a strong order book for 2023 and 2024. It s next targeting 150 or 200.

Stock Price Details
Open	95.30
High	103.85
Low	95.00
Close	94.55
Average Price	100.69
Volume	10,20,50,869
Open Interest	2,15,55,000
Bid / Ask	101.75 / 0.00
Upper / Lower Circuit	75.65 – 113.45
52 Week High / Low	30.95 – 103.85

Fundamental Ratios
Market Cap	Rs 17,689 Cr
Sector Return	100.68%
Market Return	19.13%
1-year Return	165.32%
Valuation Ratio	43.97
PE Ratio	8.52
Price to Book Value	13.81
PEG Ratio	19.37%
ROE (Latest)	35.37
Growth	35.37
EV to EBIT	34.83
EV to EBITDA	Negative
Capital Employed	Negative
ROCE (Latest)	-4.46
EV to Capital Employed	1.38
EV to Sales	Not specified
Dividend Yield	0.57%

Shareholdings Patterns	Sep 23	Jun 23
Promoters	61.75%	61.75%
FIIs	4.14%	3.84%
Mutual Funds	3.12%	3.24%
Insurance Companies	7.09%	7.09%
Other DIIs	0.02%	0.02%
Non-Institutional	23.88%	24.06%

Also read IEX SHARE PRICE TARGET 2024,2025,2030,2040,2050

IRCON

IRCON initially named Indian Railway Construction Company Limited is a government company formed in 1976 under the Ministry of Railways. As a leading public sector turnkey construction firm IRCON has gained recognition. IRCON’s shares surged by 14.80% to reach a one-year high of Rs 261.35, showcasing a remarkable 320% growth over the past year, with a 50% increase in January. This positive momentum aligns with the broader trend observed in railway-related stocks, suggesting a favorable outlook for IRCON’s future performance.

Stock Price Details
Open	231.00
High	271.00
Low	225.80
Close	227.80
Average Price	255.64
Volume	15,14,75,224
Open Interest	–
Bid / Ask	0.00 / 267.10
Upper / Lower Circuit	182.25
52 Week High / Low	50.10 – 271.00

Fundamental Ratios
Market Cap	Rs 23,598 Cr
Sector Return	65.84%
Market Return	19.13%
1-year Return	341.12%
Valuation Ratio	24.20
PE Ratio	3.86
Price to Book Value	0.89
PEG Ratio	15.96%
ROE (Latest)	25.75
Growth	25.75
EV to EBIT	22.22
EV to EBITDA	50.91%
ROCE (Latest)	13.11
EV to Capital Employed	1.45
EV to Sales	Not specified
Dividend Yield	1.32%

Shareholdings Patterns	Dec 23	Sep 23
Promoters	65.17%	73.18%
FIIs	4.11%	4.01%
Mutual Funds	0.48%	0.02%
Insurance Companies	0.29%	0.30%
Other DIIs	0.43%	0.30%
Non-Institutional	29.52%	22.19%

Yes Bank Share price Target 2024,2025,2030

Yes Bank Share Price prediction for 2024,205,2030 by observing all data of stock

By Moneyalexa

On Jan 4, 2024

Best 5 Govt Stocks for Budget-2024 | Buy Rs 100/- Govt Penny Stock