As investors gear up for the Diwali Muhurat trading session, marking the start of the new Hindu calendar year Samvat 2082, domestic brokerage firm SBI Securities has listed 15 stocks to consider this festive season, including HDFC Bank, TVS Motor Company, and Indian Bank.
The brokerage has selected stocks across diverse sectors, maintaining a balanced mix of large- and mid-cap names. It has given greater weight to the automobile segment, anticipating a rebound in sales following the recent GST rate cuts, and also preferred banking stocks amid expectations of a revival in credit demand.
Overall, the brokerage expects its recommended list of stocks to deliver up to 25% returns for investors.
Auto stocks emerge as SBI securities’ top picks
Within automobiles and ancillaries, the brokerage has recommended Swaraj Engines, Ashok Leyland, Fiem Industries, Subros, and TVS Motor Company, with respective target prices of ₹5,112 (24.2%), ₹170 (23.2%), ₹2,340 (22.5%), ₹1,118 (21.2%), and ₹3,975 (13.2%).
Among banking names, Indian Bank and HDFC Bank are favoured, with expected gains of 15.4% (target price ₹875) and 14% (target price ₹1,110), respectively.
In the metal and mining sector, Pondy Oxides & Chemicals and NALCO are the top picks, with target prices of ₹1,530 and ₹260, reflecting potential upsides of 23.4% and 19.7%, respectively.
Azad Engineering is the sole pick from the aerospace and defence segment, with a target of ₹2,105, indicating an upside of 22.5%. In the capital goods space, Oswal Pumps leads the list with a target price of ₹970, implying an upside of 25.2%.
Other recommended stocks include Jubilant FoodWorks ( ₹720; 15.5% upside), NSDL ( ₹1,380; 15.2%), and Apollo Hospitals ( ₹8,675; 13.2%).
Expects turnaround for Indian stock market in Samvat 2082
The Samvat 2081 period was marked by multiple domestic and global challenges that significantly impacted market performance, causing Indian benchmarks to underperform compared to major global indices.
The Indian stock market faced several headwinds: disappointing corporate earnings, uncertainties linked to global tariffs, persistent FII outflows in the secondary market, and the rupee’s underperformance against the U.S. dollar.
From Diwali 2024 to September 30, 2025, the Nifty 50 and Sensex delivered muted returns of 1.3% and 0.7%, respectively. Broader markets were also subdued, with the Nifty SmallCap index slipping 6.6% during the same period. Sectorally, weakness was broad-based—the IT, power, and FMCG sectors fell 18.1%, 15.0%, and 7.7%, respectively.
However, SBI Securities believes this underperformance could reverse in Samvat 2082, supported by recovering earnings, a GST-led consumption boost, a pickup in capex, strong macro fundamentals, and attractive valuations. The brokerage expects these factors to help Indian equities shed their underperformer tag in the coming year.
Looking ahead, SBI Securities expects the next set of winners to emerge from select pockets, including auto OEMs and auto ancillaries, cement, and NBFCs with a focus on MSME, housing, and gold. Capital market players, such as wealth managers and AMCs, select banks, EMS, recycling, new-age businesses, pharma-CDMO, structural steel tubes, office leasing, hotels, hospitals, and manufacturing covering PEB, defense, aerospace engineering, railway wagons, power equipment including BESS, pharma ancillaries, and metals & mining.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
