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As India’s growth story continues on a positive track, here are five stocks that stand out for their sectoral and company-specific strengths
Muhurat Trading 2024 Timings
As India’s growth story continues on a positive track, here are five stocks that stand out for their sectoral and company-specific strengths. They are also part of the Diwali picks of different brokerages and boast robust outlooks driven by factors such as market share gains, infrastructure spending, dividend yields, and higher gold prices.
With Sensex having fallen around 5,600 points from peak and several multibagger stocks seeing double-digit losses, investors are now hunting for opportunities away from momentum plays to quality stocks and growth stocks at a reasonable price.
For the next one year, ICICI Securities has set a Nifty target of 27,500 with sectoral preference towards capital goods/infra, private banks (and AMCs) and select auto, IT and pharma packs.
“Keeping the key filter of quality and growth visibility, we continue to see reasonable opportunities across the market spectrum. Investors are advised to utilize equities as a key asset class for long term wealth generation by investing in quality companies with strong earnings growth and visibility, stable cash flows, RoE and RoCE,” the brokerage said.
As the broader market valuations are rich, analysts suggest opportunities arising from market correction can be used to add quality stocks with attractive valuation from a long-term investment perspective.
For Samvat 2081, Motilal Oswal expects sectors linked to domestic structural and cyclical themes to do well. The brokerage is positive on sectors such as financials, consumption, industrials, technology, and healthcare.
Here are top Diwali stock ideas from top brokerages:
Sharekhan
The time has come for rebalancing portfolio and increasing exposure to large caps and at the same time cutting exposure in the small and midcap space, and be very selective, while investing in small and microcaps and exiting companies, where valuation is at astronomical levels with little margin of safety, Sharekhan said.
Stock picks are Allied Blenders & Distillers, Bajaj Finserv, Bharti Airtel, Caplin Point Laboratories, Dabur, Dee Development, Hi-tech Pipes, HUDCO, L&T, Mastek, Powergrid, RIL, SBI, Suntech Realty and Tata Motors.
SBI Securities
Samvat 2081 can be the year of consolidation for the first few months followed by the likely beginning of an uptrend post next Union Budget 2025-26 which is likely to be presented in the month of Feb ’25, SBI Securities said.
Stock picks are Coal India, Macrotech Developers, Bharti Hexacom, Glaxosmithkline Pharma, Nippon Life AMC, Escorts Kubota, Chalet Hotels, Newgen Software, Titagarh Rail, PG Electroplast, Arvind Fashions and Kilburn Engineering.
Motilal Oswal
Diwali stock picks are ICICI Bank, HCL Tech, L&T, Titan, Zomato, IPCA, Angel One, Five Star, Amber and Zen Tech.
Axis Securities
Diwali picks are Gravita India, Arvind Smart Spaces, Inox Wind, KPIT Technologies, HG Infra, AU Small Bank, Lupin, Indian Hotels and UNO Minda.
HDFC Securities
HDFC Securities has listed Bank of India, JK Lakshmi Cement, Jyothy Labs, L&T Finance, NALCO, Navin Fluorine, NCC, PNB Housing Finance, RIL and SBI as Diwali stock picks.
Kotak Securities
Top investment ideas include Aadhar Housing, Axis Bank, Fiem Industries, Gravita India, Godrej Agrovet, JB Chemicals, SH Kelkar and Zomato.
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