Indian brokerage SBI Securities’ 11 Diwali stock picks for Samvat 2083 carry target prices implying 14% to 22% upside from report reference prices, ahead of India’s Nov. 8 special trading session.
In its Oct. 27 report, SBI Securities set Centum Electronics’ target at 4,980 rupees, against a reference price of 4,082 rupees. That is the highest implied upside among the picks, at 22%. Multi Commodity Exchange of India had the lowest: a 3,633-rupee target against a 3,187-rupee reference price, or 14%.
The figures below are from SBI Securities’ report. The percentages compare its targets with the report’s reference prices; they are not returns calculated from Oct. 31 prices or a guarantee that a target will be reached.
| Stock | Reference price (rupees) | Target price (rupees) | Implied upside |
|---|---|---|---|
| Centum Electronics | 4,082 | 4,980 | 22.0% |
| Lumax Industries | 5,051 | 6,097 | 20.7% |
| Genus Power Infrastructures | 268 | 320 | 19.4% |
| Power Mech Projects | 2,167 | 2,576 | 18.9% |
| Jyoti CNC Automation | 926 | 1,087 | 17.4% |
| Tata Steel | 171 | 200 | 17.0% |
| Sambhv Steel Tubes | 169 | 197 | 16.6% |
| Sky Gold & Diamonds | 935 | 1,080 | 15.5% |
| Indian Hotels Company | 813 | 935 | 15.0% |
| Stylam Industries | 3,206 | 3,662 | 14.2% |
| Multi Commodity Exchange of India | 3,187 | 3,633 | 14.0% |
For Indian shares overall, the brokerage expects a slow improvement after two years of largely flat performance. It identified crude oil below $90 per barrel as a catalyst and said double-digit earnings growth would support domestic stocks.
The National Stock Exchange of India (NSE) tracker showed the Nifty 50 down 11.96% over the 12 months through Oct. 29. EconoTimes previously covered a separate set of Diwali stock recommendations for Samvat 2083.
Muhurat trading is a special market session held for Diwali. The NSE calendar lists this year’s session for Nov. 8 and says trading hours will be announced separately.
