📊 November 2024 Eight Core Industries: Detailed Analysis, Beneficiary Stocks & Industries 📊

1. Overview of Core Industries Growth
The Index of Eight Core Industries (ICI), representing 40.27% of the weight in the Index of Industrial Production (IIP), recorded a 4.3% year-on-year (YoY) growth in November 2024.

The cumulative growth for April-November 2024-25 stands at 4.2%, driven by the recovery and expansion in key industries.

2. Sector-Wise Insights with Beneficiary Stocks

Coal Sector:
✅ +7.5% YoY growth, cumulative growth at +6.4%.
Drivers: Higher demand from the energy and industrial sectors.

Beneficiary Stocks: Coal India, NMDC.
Beneficiary Industry: Power generation, steel production.

Crude Oil:
🔴 -2.1% YoY decline, cumulative decline at -2.4%.
Challenges: Declining production due to global headwinds and extraction issues.

Beneficiary Stocks: ONGC (subject to recovery plans), Oil India.
Beneficiary Industry: Refinery and petrochemical downstream.

Natural Gas:
🔴 -1.9% YoY decline, cumulative growth at +1.1%.
Opportunities: Government push for domestic exploration.

Beneficiary Stocks: GAIL, Indraprastha Gas Limited (IGL).
Beneficiary Industry: City gas distribution, power generation.

Refinery Products:
✅ +2.9% YoY growth, cumulative growth at +2.7%.
Drivers: Steady domestic fuel demand and refinery output.

Beneficiary Stocks: Reliance Industries, Indian Oil Corporation, BPCL.
Beneficiary Industry: Oil refining, petrochemicals.

Fertilizers:
✅ +2.0% YoY growth, cumulative growth at +1.6%.
Drivers: Strong agricultural demand.

Beneficiary Stocks: Chambal Fertilizers, Coromandel International.
Beneficiary Industry: Agriculture.

Steel:
✅ +4.8% YoY growth, cumulative growth at +5.9%.
Drivers: Rising demand from infrastructure and export.

Beneficiary Stocks: Tata Steel, JSW Steel, SAIL.
Beneficiary Industry: Infrastructure, automotive, and construction.

Cement:
✅ +13.0% YoY growth, cumulative growth at +3.1%.
Drivers: Strong demand from real estate and infrastructure projects.

Beneficiary Stocks: UltraTech Cement, Ambuja Cement, ACC.
Beneficiary Industry: Construction, real estate, rural housing.

Electricity:
✅ +3.8% YoY growth, cumulative growth at +5.3%.
Drivers: Rising energy demand and renewable energy inclusion.

Beneficiary Stocks: NTPC, Power Grid Corporation, Adani Green Energy.
Beneficiary Industry: Renewable energy, industrial power supply.

3. Key Investment Insights for Industries
Infrastructure Boom: Cement and Steel sectors benefit significantly from the government's infrastructure spending spree.

Power Shift: Electricity growth aligns with renewable energy expansion, making it a long-term play for investors.

Agricultural Resilience: Fertilizer stocks offer steady returns, driven by consistent demand from the agriculture sector.

Energy Challenges: Natural Gas and Crude Oil face short-term risks but hold potential with policy and production changes.

4. Opportunities for Investors
Short-Term Plays: Cement and Steel sectors provide opportunities for robust returns based on immediate infrastructure demand.

Long-Term Bets: Renewable energy and Electricity stocks present opportunities for sustained wealth creation in line with global energy transitions.

Defensive Investments: Fertilizer companies offer stability during market volatility due to their strong demand base.

5. Disclosure
Important Notice: This analysis is based on provisional data for November 2024. Investors should note that past performance does not guarantee future results.

Risks: Sectoral performance is subject to market conditions, policy changes, and global economic trends.

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