Diwali Picks 2024: Where To Invest in Samvat 2081

Samvat 2080 emerged as a transformative year with benchmarks—BSE Sensex and NSE Nifty50 delivered impressive returns of 25%, outpacing many global indices.

At the headline level, the Nifty50 index has surged 25.94% thus far in Samvat 2080 (till October 24, 2024), while the broader Nifty500 index has leaped 32.59%.

Given the current valuation, there is little possibility for growth, therefore, selecting quality stocks at a reasonable price will be key to achieving a satisfactory return in the future years.

The Bombay Stock Exchange and National Stock Exchange will conduct the annual hour-long Muhurat Trading, Diwali stocks sessions on November 1, 2024, from 6:00 PM to 7 PM.

List of some Diwali stocks for Samvat 2081: Here's what experts say:

HDFC Securities

The brokerage has provided a list of ten equities, two mega-caps and four each in midcap and smallcap, with relatively low downside and high upside potential. There are Banks of India, JK Lakshmi Cement, Jyothy Labs, and L&T, among others.

Nirmal Bang

For the coming year, Nirmal Bang has suggested buying ACIL for a target of Rs 823. The stock has an upside potential of 28%.

Kotak Securities

According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, Indian stock markets could see steady growth in the coming year, though not at the same pace as in Samvat 2080. Chouhan expects Nifty50 net profits to grow by 6.7% in FY25, with a projected earnings per share (EPS) of ₹1,042. For FY26, net profit growth is forecasted at 17.3%, with an EPS of ₹1,222.

JM Financial

For the year Samwat 2081, the brokerage has compiled a list of stocks that could benefit investors in the medium to long term. This includes Reliance Industries at the top. However, RIL's stock price has underperformed the broader market, returning only 5% in CY24YTD compared to 15% for the Nifty-50. However, individuals can expect it to take a turn, supported by faster-than-anticipated telecom rate increases by telecoms, a rebound in the retail industry, and favourable announcements on the new energy sector.