Two Indian news outlets reported different potential-upside estimates for six SMIFS Limited Diwali stock picks, although the reports do not state the reference-price dates or target period.
The Economic Times reported on Nov. 2 that TVS Supply Chain Solutions had a target-based potential-upside estimate of 116%, while Swiggy’s was 104%. BusinessToday, which published its list Oct. 29, put the estimates at 115% and 102%, respectively.
The outlets listed the same target prices for all six stocks, but their reported percentages differed.
The Economic Times listed the reference prices below. Target prices were the same in both reports; potential-upside estimates are shown as reported by The Economic Times and BusinessToday, respectively.
| Stock | Reference price (₹) | Target price (₹) | Potential upside: The Economic Times / BusinessToday |
|---|---|---|---|
| ITC Ltd. | ₹259 | ₹360 | 39% / 37% |
| Larsen & Toubro | ₹3,801 | ₹4,550 | 20% / 18% |
| Mazagon Dock Shipbuilders Ltd. | ₹1,731 | ₹2,905 | 68% / 65% |
| Olectra Greentech Ltd. | ₹985 | ₹1,500 | 52% / 54% |
| Swiggy Ltd. | ₹184 | ₹375 | 104% / 102% |
| TVS Supply Chain Solutions Ltd. | ₹111 | ₹240 | 116% / 115% |
The Economic Times also linked the picks to more attractive valuations after a market correction. It reported the Nifty at 16.4 times one-year forward earnings, compared with a long-term average of 18.4 times, and said India’s valuation premium over emerging markets had narrowed from 97% to 35%. The outlet did not specify when those figures were measured.
BusinessToday reported that SMIFS’s rationale also included geopolitical tensions, high energy prices and foreign investor outflows. It cited competition and slower-than-guided Instamart loss reduction as risks for Swiggy, and freight volatility, customer churn and working-capital needs for TVS Supply Chain Solutions.
EconoTimes has also covered SBI Securities’ separate Diwali stock picks for Samvat 2083.
The National Stock Exchange of India Limited (NSE) has scheduled its Muhurat Trading session for Sunday, Nov. 8, and said it will announce the hours separately.
