Top Silver Shares To Invest In India In 2024
Introduction:
As the investment landscape continues to evolve, savvy investors are always on the lookout for promising opportunities. In recent years, silver has emerged as an attractive option for those seeking to diversify their portfolios and hedge against economic uncertainty. With its myriad industrial applications and status as a precious metal, silver offers unique investment potential.
In this blog, you will explore some of the top silver stocks for investment in India in 2024. You will also get insights into the performance and prospects of these silver stocks. Keep reading.
What are silver stocks?
Silver stocks represent equity shares in companies engaged in activities such as mining, refining, production, or sales of silver or silver jewellery. Investing in silver stocks provides you with an opportunity to participate in the silver market without buying or possessing the physical metal.
Start Investing with Free Expert Advice!
There are two types of silver stocks in which you can invest – physical silver stocks and silver mining stocks. Physical silver stocks represent ownership stakes in companies involved in designing, marketing, or trading of silver coins, jewellery, and other items. Silver mining stocks represent ownership stakes in companies engaged in silver exploration, mining, refining, or production.
Top silver stocks for investment in 2024
Listed below are the top silver stocks for investment in India in 2024:
1. Hindustan Zinc Limited
Hindustan Zinc Limited is one of the largest integrated producers of zinc-lead and silver in India. The company is a subsidiary of Vedanta Limited. With a diversified business portfolio of silver and zinc mines and a strong track record of operational excellence, Hindustan Zinc Limited stands out as a prominent player in the silver market. The company’s commitment to sustainability and innovation further enhances its long-term growth prospects, making it an appealing investment choice in 2024.
As of 6 April 2024, Hindustan Zinc Limited’s shares were trading for Rs. 339.95 per share at the National Stock Exchange (NSE) and Rs. 339.85 per share at the Bombay Stock Exchange (BSE).
2. Vedanta Limited
Vedanta Limited is an India-based multi-national mining company with its headquarters in Mumbai, Maharashtra. The company is renowned for exploration and mining of natural resources, including aluminium, iron ore, zinc, lead, gold, and silver. The company’s focus on achieving sustainable growth and high standards of transparency make it one of the best silver stocks to invest in 2024.
As of 6 April 2024, Vedanta Limited shares were trading for Rs. 318.95 per share at the NSE and Rs. 318.90 per share at the BSE. The company’s market cap stood at Rs. 1,18,542 crores.
3. Goldiam International Limited
Goldiam International Limited is an Indian jewellery manufacturer and exporter. The company specialises in crafting diamond-studded gold and silver jewellery. Functioning as an original equipment manufacturer (OEM) partner, the company exports its products to markets in the United States of America (USA) and Europe. An impressive pre-tax margin of 22% and a commendable ROE of 14% make Goldiam International Limited one of the best investment options in 2024.
As of 6 April 2024, the shares of Goldiam International Limited were trading for Rs. 189.55 per share at the NSE and Rs. 189.35 per share at the BSE. The one-year return stood at 34.72%.
4. Thanga Mayil Jewellery Limited
Thangamayil Jewellery Limited is an Indian-based company that specialises in the production and retail of gold, diamond, and silver jewellery. The company has more than 40 showrooms and 13 exclusive silver outlets in South India. An impressive ROE of 24.98% and an excellent one-year return of 155.89% make Thanga Mayil Jewellery stocks a prudent choice for investors.
As of 6 April, these stocks were trading for Rs. 1,311.45 per share at the NSE and Rs. 1,310.55 per share at the BSE.
To conclude
Investing in silver stocks mentioned above presents an attractive opportunity for Indian investors in 2024. With its intrinsic value as a precious metal and diverse industrial applications, silver offers a compelling proposition for portfolio diversification and wealth preservation. However, as with any investment, thorough research and careful consideration of individual financial goals and risk tolerance are essential before making any investment decisions.
Trending Blogs: Invest in Small Cap & Mid Cap Mutual Fund & Stocks | US FED’s rate cut announcements | Companies affected by Rise in Crude Oil Price | Fall in IT Stocks | Launch of 4 New Indices | Revised Lot Sie of Nifty Contracts | RBI Monetary Policy Committee Meet 2024 | ITC Share Surge After BATs Block Deal | Impact of RBI Circular on Currency Trading
Related Blogs – Top sugar stocks to invest in India in 2024 | Best liquor stocks you can add to your portfolio in 2024 | 5 Best Banking Stocks to Invest in 2024 | Top 5 hotels stocks to buy in India in 2024
Popular Stocks: ICICI Bank Share Price | HDFC Bank Share Price | CDSL Share Price | UPL Share Price | TCS Share Price | BHEL Share Price | Trident Share Price | IRFC Share Price | Adani Power Share Price
