Best Growth Stocks To Buy In 2022

Growth stocks to buy grow significantly faster than the rest of the market. Such companies do not pay dividends. Instead, they reinvest the earnings back into the business to grow faster. The best way to make money on growth stocks is to sell them for a higher amount than what you paid initially. This amount is called capital gains. Here are the best growth stocks to buy in 2022:

Tata Power

Tata Power Limited operates in the electric utility sector of the Indian economy. As of April 2021, Tata Power share price had a market cap of over Rs. 30,000 crore. At the end of December 2020, its revenue stood at Rs 1,656 crore.

It is a part of Tata Group companies and deals in generating and distributing electricity, with operations in India and worldwide. In India, it is the biggest company in renewable energy and has many successful public-private partnerships. Consequently, Tata Power share had high earnings per share growth in the past 12 months, as per a report by ICICIdirect.

It has also reported a growth in its net profit, with profit margin increasing year on year. Tata Power NSE share has seen the highest recovery from its 52-week low in the past, and its relative strength index indicates further share price strength.

Reliance Industries

RIL is India’s biggest conglomerate with a massive presence in oil refining & marketing, petrochemicals, oil & gas exploration, retail, digital services, and media, making it a well-diversified company. Based on RIL’s strong performance in the past few years, brokerages see the stock rising by over 20%. ICIC Direct recommends buying the stock with a target price of Rs. 2,950 over the next year.

ICICI direct said, “RIL’s customer business will be the driver. The company has a strong balance sheet post fundraising while its traditional business will go on to generate steady cash flows.”

ICICI directly believes that the increase in value accretion from the digital ecosystem that Jio can take advantage of could be a critical driver for RIL shares in the future.

Adani Power

Adani Power is an energy sector company with a market cap of over Rs. 32,000. At the end of March 2021, its annual revenue had crossed Rs. 26,000 crores. With an installed capacity of 12,450 megawatts, it is the largest private thermal power producer in India. Adani Power has strong annual earnings per share growth with consistent growth in net profit and an improving profit margin.

For a disclaimer and detailed report, click here:

https://www.icicidirect.com/stocks/tata-power-company-ltd-share-price