Indian stock market — Sensex and Nifty — had a spectacular run in the past one year. From touching fresh all-time highs to multiplying investors money, the stock markets has been on roll. It had added Rs 51 lakh crore in Nifty m-cap and Rs 111 lakh crore in total BSE m-cap. The biggest contributors were IT stocks and banking stocks. “Samvat 2077 has been a rewarding year for equity investors in India and globally, despite headwinds from the COVID-19 pandemic. Undoubtedly, the fiscal stimulus from governments and a soft monetary policy stance of global central bankers have acted as the key tailwinds for equities. Further, visible signs of an improvement in high-frequency key economic indicators, post the second wave of COVID, in the form of steady GST collection, railway freight, power consumption, import-export data, e-way bills among others have emboldened investors,” Reliance Securities said in a note.
The momentum in the market to continue in the new year, believed the analysts. “Going forward, as most global central bankers, including the US Federal Reserve, are considering a tapering of the soft monetary policy and abolishing the monthly asset purchase programme (US$120bn in the USA) in the coming months, a liquidity-driven market globally is likely to take a backseat in CY22,” it further added.
On Diwali, stock exchanges hold a customary one-hour trading session — Muhurat trading. It is believed that trading during Muhurat trading session will bring prosperity and abundance to investors throughout the year.
Reliance Securities Stock Picks for Muhurat trading 2021
For Samvat 2078, Binod Modi, head strategy, Reliance Securities recommended a list of stocks that “can potentially generate higher return in next one year.”
Ashok Leyland
CMP: Rs 141 | Target Price: Rs 170 | Upside: 21 per cent
Gujarat Gas
CMP: 594 | Target Price: Rs 967 | Updise: 63 per cent
HCL Technology
CMP: Rs 1,152 | Target: Rs 1,480 | Upside: 28 per cent
Infosys
CMP: Rs 1,704 | Target: Rs 2,120 | Upside 24 per cent
Kalpataru Power
CMP: Rs 428 | Target: Rs 678 | Upside 58 per cent
This is a combination of large-cap and mid-cap stocks based on our bottom-up approach, the brokerage said.
ICICI Direct Top Stock Picks for Diwali 2021
“Given the scenario, we see value emerging across the market cap spectrum with the key filter being quality. We continue to advise investors to utilise equities as a key asset class for long term wealth generation by investing into quality companies with strong earnings growth and visibility, stable cash flows, RoE and RoCE,” ICICI Direct in a note added.
“We recommend Bank of Baroda, Action Construction Equipment, Bata India, TCNS Clothing, Gateway Distriparks, Mahindra Lifespace and Vardhman Special Steel as our Muhurat 2021 picks,” it mentioned.
Prabhudhar Lilladher Recommendations for Samvat 2078
Prabhudhar Lilladher said that it had picked up some potential stocks from NSE cash segment which are technically well placed and anticipated for yielding decent returns in the bracket of 20 per cent to 30 per cent (Diwali to Diwali period).
Apollo Hospitals
CMP: Rs 4,267 | Entry Range: Rs 4,267-4,000 | Target: Rs 5,200-5,400 | Stop Loss: Rs 3,850
Cummins India
CMP: Rs 875 | Entry Range: Rs 875-830 | Target: Rs 1,150-1,240 | Stop Loss: Rs 800
Federal Bank
CMP: Rs 102 | Entry Range: Rs 102-95 | Target: Rs 130-140 | Stop Loss: Rs 90
Hind Oil Exp
CMP: Rs 181 | Entry Range: Rs 181-165 | Target: Rs 230-245 | Stop Loss: Rs 160
Mahindra & Mahindra Limited
CMP: Rs 894 | Entry Range: Rs 894-840 | Target: Rs 1,100-1,180 | Stop Loss: Rs 820
“One can purchase them for investment purpose based on the entry level mentioned in the report and the stock selection is purely based upon Technical parameters which can be considered for a time frame of next one year,” the brokerage house noted.
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