Mukul Agrawal’s 10 Smallcap Picks: Betting on India’s EV, Consumption & Infrastructure Boom
Renowned investor Mukul Agrawal has strategically added 10 smallcap stocks to his portfolio in Q2 2024, doubling down on India’s high-growth sectors like electric vehicles (EVs), consumption, and infrastructure. Known for spotting multibagger opportunities early, Agrawal’s latest moves signal confidence in India’s next wave of economic expansion.
Mukul Agrawal’s Top 10 Smallcap Buys in Q2 2024
Regulatory filings reveal Agrawal’s key smallcap additions, spanning emerging themes:
- Kabra Extrusion Technik – EV battery component machinery
- Himadri Speciality Chemical – Lithium-ion battery materials
- KPIT Technologies – Automotive & EV software solutions
- Sunteck Realty – Premium real estate demand
- Bharat Wire Ropes – Infrastructure & defense manufacturing
- Dhampur Sugar Mills – Ethanol & sugar play
- Elecon Engineering – EV gearboxes & material handling
- Nucleus Software – Digital lending fintech
- JTL Industries – Steel pipes for infrastructure
- Ashapuri Gold Ornament – Jewelry & festive demand
Why These Sectors? Agrawal’s Growth Thesis
1. Electric Vehicles & Clean Energy
India’s EV sector is booming, with Himadri Speciality Chemical (lithium-ion materials), Kabra Extrusion (battery machinery), and KPIT Technologies (EV software) positioned as key beneficiaries. Government incentives and falling battery costs are accelerating adoption.
2. Consumption Revival
Stocks like Dhampur Sugar Mills (ethanol blending) and Ashapuri Gold (wedding demand) align with India’s consumption rebound. Festive seasons and rural recovery could drive upside.
3. Infrastructure & Manufacturing
Agrawal’s picks—Bharat Wire Ropes, JTL Industries, Elecon Engineering—leverage India’s $1.4T infrastructure push and PLI schemes for niche manufacturing.
4. Real Estate & Fintech Growth
Sunteck Realty taps into luxury housing demand, while Nucleus Software rides India’s digital lending boom.
What Should Retail Investors Do?
While Agrawal’s moves are influential, smallcaps carry risks. Key tips:
– Research fundamentals: Check debt, revenue growth, and margins.
– Diversify: Avoid overexposure to one sector.
– Long-term view: Smallcaps can be volatile but rewarding.
Market Outlook: Smallcaps Set for FY25 Rally?
Several Agrawal-backed stocks have gained post-disclosure. Analysts expect smallcaps to outperform if macros stabilize, especially in domestic-driven sectors.
Key Takeaway
Agrawal’s Q2 bets highlight India’s structural growth themes—EVs, consumption, and infrastructure. For investors, patience and due diligence remain critical.
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