Brokerages Recommend 31 Indian Stocks for Diwali Muhurat Trading with Upside Potential up to 52%
Several Indian brokerages have released Diwali stock picks for Samvat 2083, highlighting 31 companies across multiple sectors that could deliver returns ranging from 15% to 52% by the next Diwali.
Indian brokerages HDFC Securities, Nuvama, PL Capital and Monarch Networth Capital have each published lists of stocks they expect to benefit from the Diwali Muhurat trading session in Samvat 2083. The recommendations are based on technical indicators, improving fundamentals and anticipated earnings recovery.
HDFC Securities named six stocks, including Bharat Petroleum, HCL Technologies, IIFL Finance, JSW Steel, Satin Creditcare and Zensar Technologies, with projected upside of up to 28 percent. The brokerage set entry bands and target prices for each, such as a 20% potential rise for BPCL and a 25% rise for Zensar Technologies.
Nuvama’s technical desk highlighted five stocks—Adani Energy Solutions, Coforge, KDDL, Punjab National Bank and Zydus Lifesciences—citing breakout patterns, moving-average crossovers and Fibonacci retracements as signals of a possible market recovery. It noted that foreign institutional investors hold a short position and that domestic and global triggers could improve sentiment.
PL Capital forecast a better market environment in Samvat 2083, while warning that geopolitical developments, oil prices, inflation and monsoon rainfall could affect demand. Its picks include large-cap names such as Bharat Electronics, Britannia Industries, ICICI Bank and Shriram Finance, and mid- and small-cap stocks like Blue Star, CESC, Delhivery and Ingersoll-Rand (India).
Monarch Networth Capital focused on sectors such as banking, financial services, insurance, healthcare and defence. It identified 14 stocks with upside potential of at least 15%, including Carborundum Universal, CCL Products and Vedanta Aluminium, each projected to gain more than 50 percent.
Overall, the brokerages expect the Indian equity market to benefit from lower valuations, a potential easing of geopolitical tensions and a rebound in corporate earnings, though they caution that factors such as inflation, interest rates and monsoon performance remain key risks.