Top Diwali Stock Picks for Samvat 2082
The Indian stock market is buzzing with excitement as the festive season of Diwali approaches. Major indices like Sensex and Nifty have shown remarkable growth, with Sensex crossing the 84,000 mark and Nifty surpassing 25,700. This positive momentum is largely attributed to the upcoming Muhurat trading session on October 21, which is traditionally seen as an auspicious time for investors to make purchases in hopes of prosperity in the coming year.
Centrum Broking has identified five key stocks that investors should consider for Samvat 2082. These selections are based on strong fundamentals and promising growth potential. The recommended stocks are Dixon Technologies, Azad Engineering, Syrma SGS Technology, Canara Bank, and Cholamandalam Investments & Finance.
Dixon Technologies, a key player in the smartphone manufacturing sector, is expected to experience a quarter-on-quarter volume growth of around 15% due to its robust order book. With an anticipated share price target of ₹21,574, Dixon is positioned to thrive in the coming quarters.
Azad Engineering is also making waves with a strong order book of ₹6,000 crore, projecting a book-to-bill ratio of 10x. Despite its high P/E ratio of 106, the stock is valued at a target price of ₹2,145, thanks to consistent margin growth.
Syrma SGS Technology is expected to stabilize its PAT margins and capitalize on gains from its PCB business. With a share price target of ₹1,035, this company is well-positioned for future growth.
Canara Bank has shown a steady decline in NPAs over the past three years, with net interest margins stabilizing. The bank's share price target is set at ₹151, reflecting its positive trajectory.
Lastly, Cholamandalam Investment & Finance is navigating near-term challenges with an expected CAGR of around 20%. This stock is valued at ₹1,935, making it an attractive investment option.
As the festive spirit takes hold, these stock picks present promising opportunities for investors looking to make the most of Diwali. However, it is always wise to consult with certified experts before making any investment decisions.
