The Festival of Lights is here, and for investors, it marks the auspicious tradition of Muhurat Trading—a time to invoke prosperity for their portfolios. Every Diwali, leading brokerage houses and research firms have unveiled their special stock recommendations for the year ahead, often referred to as “Diwali Picks” or “Samvat” picks. To save you the effort of scouring multiple reports, Money Mentors has meticulously compiled the top equity recommendations for Diwali 2025 from seven of the most respected brokerages in the country. Here is the complete list, complete with target prices and potential upside.
Motilal Oswal’s Diwali Stock Picks
Motilal Oswal has identified 10 stocks poised to benefit from India’s growth revival across banking, manufacturing, consumption, and digital themes, with upside potential reaching up to 38% over the next year.
State Bank of India (SBI)
Target Price: ₹1,000 | Upside: 14%
Mahindra & Mahindra (M&M)
Target Price: ₹4,091 | Upside: 18%
Bharat Electronics (BEL)
Target Price: ₹490 | Upside: 22%
Swiggy
Target Price: ₹550 | Upside: 25%
Indian Hotels
Target Price: ₹880 | Upside: 21%
Max Financial Services
Target Price: ₹2,000 | Upside: 24%
Radico Khaitan
Target Price: ₹3,375 | Upside: 16%
Delhivery
Target Price: ₹540 | Upside: 15%
LT Foods
Target Price: ₹560 | Upside: 38%
VIP Industries
Target Price: ₹530 | Upside: 26%
HDFC Securities’ Diwali Stock Picks
HDFC Securities presents 10 quality stocks with expected upside up to 27%, covering sectors including consumption, financial services, power, and engineering:
Associated Alcohols & Breweries
Target Price: ₹1,182 | Upside: 17%
Bharti Airtel
Target Price: ₹2,244 | Upside: 15%
Happy Forgings
Target Price: ₹1,083 | Upside: 18%
IDFC First Bank
Target Price: ₹88.5 | Upside: 20%
JSW Energy
Target Price: ₹639 | Upside: 17%
Larsen & Toubro (L&T)
Target Price: ₹4,243 | Upside: 13%
MSTC Ltd
Target Price: ₹673 | Upside: 27%
Northern Arc Capital
Target Price: ₹333.5 | Upside: 24%
Pidilite Industries
Target Price: ₹1,717 | Upside: 13%
Sheela Foam
Target Price: ₹837 | Upside: 23%
JM Financial’s Diwali Stock Picks
JM Financial’s festive portfolio captures premium home appliances, manufacturing, banking, and metal sectors with solid upside projections:
Eureka Forbes
Target Price: ₹715 | Upside: 31%
Maruti Suzuki India
Target Price: ₹19,000 | Upside: 16%
Fiem Industries
Target Price: ₹2,400 | Upside: 22%
Axis Bank
Target Price: ₹1,330 | Upside: 12%
IIFL Finance
Target Price: ₹600 | Upside: 22%
L&T Finance
Target Price: ₹300 | Upside: 12%
Apollo Hospitals
Target Price: ₹9,000 | Upside: 17%
Lloyds Metals & Energy
Target Price: ₹1,680 | Upside: 28%
Ratnamani Metals & Tubes
Target Price: ₹2,900 | Upside: 25%
Brainbees Solutions
Target Price: ₹460 | Upside: 25%
Nirmal Bang’s Diwali Stock Picks
Nirmal Bang focuses on electronics manufacturing, pipes, IT, banking, and pharma sectors with strong growth and valuation potential:
GNG Electronics
Target Price: ₹482 | Upside: 52%
Finolex Industries
Target Price: ₹278 | Upside: 46%
Stove Kraft
Target Price: ₹870 | Upside: 30%
Tata Consultancy Services (TCS)
Target Price: ₹3,611 | Upside: 22%
Varun Beverages
Target Price: ₹541 | Upside: 23%
ICICI Bank
Target Price: ₹1,631 | Upside: 18%
GlaxoSmithKline Pharma
Target Price: ₹3,425 | Upside: 24%
Diffusion Engineers
Target Price: ₹466 | Upside: 22%
Religare Broking’s Diwali Stock Picks
Religare highlights PSU and private corporate names across financial services, manufacturing, and specialty chemicals with upside ranging from 12.4% to 26.6%:
Power Finance Corporation
Target Price: ₹502 | Upside: 26.6%
Reliance Industries
Target Price: ₹1,600 | Upside: 16.4%
HDFC Life Insurance
Target Price: ₹870 | Upside: 17%
Mahindra & Mahindra Financial Services
Target Price: ₹327 | Upside: 14.3%
Nuvoco Vistas
Target Price: ₹478 | Upside: 12.4%
Alongside, their affiliate Kotak Securities recommends:
Acutaas Chemicals
Target Price: ₹1,780 | Upside: 28.3%
Adani Ports
Target Price: ₹1,900 | Upside: 33.9%
Cummins
Target Price: ₹4,400 | Upside: 11.9%
Eternal
Target Price: ₹375 | Upside: 14.3%
ICICI Bank
Target Price: ₹1,700 | Upside: 25.5%
LKP Securities’ Diwali Stock Picks
LKP Securities emphasizes consumer digital plays, financial services, and healthcare, with notable upside potential:
Nykaa
Target Price: ₹340 | Upside: 30%
Bajaj Finance
Target Price: ₹1,260 | Upside: 22%
Divi’s Laboratories
Target Price: ₹8,200 | Upside: 25%
SBI Cards
Target Price: ₹1,100 | Upside: 19%
SBI
Target Price: ₹1,050 | Upside: 19%
Swiggy
Target Price: ₹540 | Upside: 24%
Additional picks from AB Capital under LKP coverage include:
Paras Defence
Target Price: ₹900 | Upside: 27%
Sagilitys
Target Price: ₹60 | Upside: 30%
Sky Gold & Diamonds
Target Price: ₹430 | Upside: 28%
Juniper Hotels
Target Price: ₹350 | Upside: 35%
PL Capital’s Diwali Stock Picks
PL Capital offers a curated basket spanning FMCG, healthcare, IT, and infrastructure companies with moderate to strong upside potential:
ITC
Target Price: ₹530 | Upside: 32.8%
ICICI Bank
Target Price: ₹1,730 | Upside: 25.5%
Eris Lifesciences
Target Price: ₹1,975 | Upside: 22.7%
Apollo Hospitals
Target Price: ₹9,300 | Upside: 20.9%
Dom’s Industries
Target Price: ₹3,085 | Upside: 22%
Britannia Industries
Target Price: ₹6,484 | Upside: 10.5%
Hindustan Aeronautics
Target Price: ₹5,500 | Upside: 15.9%
KEI Industries
Target Price: ₹4,946 | Upside: 14.7%
SBI
Target Price: ₹960 | Upside: 8.7%
Sources for Diwali 2025 stock picks:
- Business Standard: 10 stocks with maximum upside this Diwali
- Economic Times: 10 Diwali 2025 stock picks from Motilal Oswal
- HDFC Securities: Top 10 Diwali stock picks 2025
- Moneycontrol: Diwali stock picks 2025 by HDFC Securities
Important Disclaimer: This article is a compilation of stock recommendations from various brokerage houses and is solely for informational and educational purposes. It is intended to provide a consolidated view of market opinions for your convenience.This is not an investment advisory nor a direct stock recommendation from Money Mentors. The selection of stocks, target prices, and potential upside are the views and opinions of the respective brokerages and their analysts. Money Mentors does not endorse any of these stocks.Investing in equities carries a high level of risk, including the potential for loss of principal. You should always consult with a qualified and registered financial advisor before making any investment decision. Past performance is not necessarily indicative of future results.
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