Diwali Muhurat 2026 Picks: BEL, Reliance, CESC, Eternal Among 39 Stocks To Buy, 70% Upside Seen In Samvat 2083

The Diwali Muhurat trading will commence from 2:20 pm to 3:30 pm on Sunday, November 8, 2026. Several brokerages have recommended stocks that has potential for long-term growth. Approximately 39 stocks are recommended to buy this Diwali Muhurat session, including large caps like Reliance Industries, Bharat Electronics, Bajaj Finance, ICICI Bank, Eternal, Tech Mahindra, Kotak Mahindra Bank and Larsen & Toubro. However, the highest potential gains could be 70% in the year Samvat 2083.

Top 5 stocks by potential upside:

Here are the highest growth stocks for Diwali Samvat 2083 based upon the recommendations given below by the brokerages. The calculation is done using the November 6, 2026, closing price of these stocks on NSE:

Rank	Stock	CMP (₹)	Target (₹)	Potential upside
1	Jubilant Ingrevia	571.55	970	69.7%
2	CESC	126.25	204	61.6%
3	Ujjivan Small Finance Bank	59.24	85	43.5%
4	Britannia Industries	4,785	6,579	37.5%
5	Ingersoll-Rand (India)	3,968.20	5,079	28.0%

PL Capital Diwali Muhurat Picks:

1. Bharat Electronics: Rs 490 Target Price

Bharat Electronics (BEL) has a strong order book of Rs 687.2 billion (2.3x TTM sales), providing healthy execution visibility.

Traction in drones and counter-drone systems is increasing, with larger orders expected over the next 1-2 years. Missile electronics, seekers, electronic warfare and cybersecurity remain key medium-to-long-term growth drivers. Expect BEL to deliver Revenue/ EBITDA / PAT CAGR of 16.3% / 16.4% / 16.7% over FY26-29E.

2. Britannia Industries: Rs 6,579 Target Price

BRIT remains a high-conviction pick, underpinned by 1) leadership in Biscuits & Bakery, 2) sustained growth in signature brands, which grew 3x faster than the rest of the portfolio in FY26, 3) improving scalability and profitability across adjacencies and 4) a robust innovation pipeline focused on region and channel specific offerings and premiumization.

3. ICICI Bank: Rs 1,900 Target Price

ICICIB remains the best performing bank due to earnings quality. ICICI Bank's balance sheet profile remains strong with (1) CET-1 adequate at 16% (2) LDR controlled between 86-89% and (3) LCR adequate at 126%. Sizable fixed-rate funding mobilized through FCNR may support future credit growth amid the rate hike cycle.

4. Shriram Finance: Target Price Rs 1,200

While near-term NIMs may moderate due to a rising share of lower-yielding new vehicle loans, improved funding costs should support margins over the medium term. Asset quality remains broadly stable, with credit costs expected to moderate as seasonal rural stress subsides. Expect Shriram Finance's RoA to improve to ~3.1% by FY29E supported by operating leverage benefits.

5. Blue Star: Target Price Rs 1,783

Blue Star is well positioned to capitalise on India's structural cooling demand, supported by low RAC penetration, market share gains and expanding distribution. The RAC industry is expected to grow by ~25% in FY27, while Blue Star is targeting UCP EBIT margins of above 6.5% through calibrated price hikes, product rationalisation, and cost optimisation.

6. CESC: Target Price Rs 204

CESC is well positioned to benefit from its expanding renewable energy portfolio, alongside stable cash flows from its core distribution and generation businesses. Expect EBITDA CAGR of ~15% over FY26-29E, while EPS is projected to grow at ~6% CAGR, with renewable capacity ramp-up expected to contribute meaningfully to earnings from FY30E.

7. Delhivery: Target Price Rs 541

DELHIVERY IN remains a strong structural play in the third-party logistics (3PL) sector, supported by its market leadership in the B2C segment and a stable insourcing mix. Expect operating leverage benefits to play out in 2HFY27E. Led by healthy growth in volumes, analysts expect sales CAGR of 18% over the next 3 years with EBITDA margin of 6.9%/9.4% in FY27E/FY28E.

8. Ingersoll-Rand (India): Rs 5,079

With capacity ramp-up, new product adoption and a healthy domestic demand outlook driving the next leg of growth, INGR offers an attractive long-term play on India's industrial capex and manufacturing expansion. Expect the company to report revenue/adj PAT CAGR of 16.5%/18.8% over FY26-29E.

Axis Direct has recommended nine stocks for Diwali Samvat 2083:

9. DCB Bank: Rs 240 Target

DCB is set to enter H2 with strong business momentum, improved visibility on NIM improvement, healthy asset-quality indicators and a demonstrated ability to generate operating leverage, collectively contributing to a sustainable 1-1.05% RoA delivery.

10. Nephrocare Health Services: Target Rs 710

Nephrocare is well-positioned to benefit from growing demand for dialysis, increasing outsourcing by hospitals and the expansion of organised healthcare in India.

11. Indian Hotels: Rs 900 Target

IHCL is well-positioned to deliver healthy growth, supported by strong occupancy trends across key tier-1 cities, improving contributions from newly opened hotels, and its focused diversification into select-service segments.

12. Ashok Leyland: Rs 170 Target

Analysts predict ~7% volume CAGR and Revenue/EBITDA/PAT CAGRs of 9%/14%/17%, respectively, over FY26-28E, driven by premiumisation, export recovery, operating leverage, richer product mix and growing contributions from Defence, Aftermarket, Power Solutions, EVs and financial services.

13. Coforge: Rs 2,245 Target

The company continues to maintain a strong command across its revenue verticals, with a strong, executable order book pipeline. On the valuation front, the company trades at FY27E/FY28E P/E multiples of 29x/23x, respectively.

14. Eternal: Rs 365 Target

EBITDA margins are likely to remain broadly flattish over the next 1-2 years as the company prioritises market expansion and absolute adjusted EBITDA growth. Analysts believe such investments are strategic in nature and position the company for stronger earnings growth over the medium to long term.

15. Hindalco Industries: Rs 1,000 Target

While LME aluminium prices have corrected amid easing supply concerns in the Middle East and higher aluminium production from China and Indonesia, Hindalco is expected to deliver stable performance, largely supported by Novelis.

16. APL Apollo Tubes: Rs 2,340 Target

On the valuation front, the stock is currently trading at 35x its 12-month forward consensus EPS compared to its TTM of 43x. Based on the P/E multiple approach for valuation and the company's strong long-term growth trajectory, analysts recommended BUY.

17. Elecon Engineering Company: Rs 500 Target

Elecon is well-positioned to capitalise on sustained domestic investments in steel, power and cement, alongside improving overseas enquiries and recovery in global markets. Its record open order book of Rs 1,635 Cr (+33.4% YoY), coupled with an expected ~8% CAGR in the domestic heavy-duty gearbox industry through FY30, provides strong growth visibility.

While Kotak Neo has also recommended BUY on APL Apollo and Eternal with target prices of Rs 2,594 and Rs 435 respectively, the brokerage also likes five other stocks fundamentally.

18. Hindustan Aeronautics (HAL): CMP Rs 4,980 | Target Price Rs 5,305 | Recommendation: ADD | Potential Upside: 6.5%.

19. Jubilant Ingrevia (JUBLINGREA): CMP Rs 571.55 | Target Price Rs 970 | Recommendation: BUY | Potential Upside: 69.7%.

20. Persistent Systems (PERSISTENT): CMP Rs 6,053.50 | Target Price Rs 6,500 | Recommendation: BUY | Potential Upside: 7.4%.

21. Titan Company (TITAN): CMP Rs 5,000 | Target Price Rs 5,050 | Recommendation: ADD | Potential Upside: 1.0%.

22. Ujjivan Small Finance Bank (UJJIVANSFB): CMP Rs 59.24 | Target Price Rs 85 | Recommendation: BUY | Potential Upside: 43.5%.

Kotak Neo's technical picks for this Diwali Muhurat trading include:

23. Bajaj Finance - CMP: Rs 1,087.75 | Buy range: Rs 850-939 | Target: Rs 1,200 | Stop loss: Rs 770 | BUY | Potential upside: 10.3%.

24. ICICI Bank - CMP: Rs 1,571.20 | Buy range: Rs 1,300-1,398 | Target: Rs 1,800 | Stop loss: Rs 1,200 | BUY | Potential upside: 14.6%.

25. JSW Steel - CMP: Rs 1,357.10 | Buy range: Rs 1,200-1,246 | Target: Rs 1,475 | Stop loss: Rs 1,150 | BUY | Potential upside: 8.7%.

26. Bharat Electronics (BEL) - CMP: Rs 396.00 | Buy range: Rs 350-370 | Target: Rs 410 | Stop loss: Rs 340 | BUY | Potential upside: 3.5%.

27. Reliance Industries - CMP: Rs 1,320.00 | Buy range: Rs 1,100-1,165 | Target: Rs 1,400 | Stop loss: Rs 1,050 | BUY | Potential upside: 6.1%.

Furthermore, brokerage Geojit has selected 10 stocks for Diwali Muhurat 2026. These include:

28. ICICI Bank - Sector: Banking Services | CMP: Rs 1,571.20 | M.Cap: Rs 10,01,595 crore.

29. Larsen & Toubro - Sector: Construction & Engineering | CMP: Rs 4,117.70 | M.Cap: Rs 5,01,513 crore.

30. Kotak Mahindra Bank - Sector: Banking Services | CMP: Rs 480.00 | M.Cap: Rs 4,27,858 crore.

31. Eternal - Sector: Consumer Service | CMP: Rs 363.15 | M.Cap: Rs 3,05,916 crore.

32. Tech Mahindra - Sector: IT Services | CMP: Rs 1,830.00 | M.Cap: Rs 1,75,398 crore.

33. Samvardhana Motherson - Sector: Automobile/Auto Parts | CMP: Rs 158.55 | M.Cap: Rs 1,59,366 crore.

34. Indian Hotels Company - Sector: Hotels | CMP: Rs 888.00 | M.Cap: Rs 1,11,597 crore.

35. Sagility - Sector: IT Services | CMP: Rs 43.46 | M.Cap: Rs 20,645 crore.

36. PVR INOX - Sector: Entertainment | CMP: Rs 1,565.60 | M.Cap: Rs 13,704 crore.

37. Cyient - Sector: IT Services | CMP: Rs 1,110.50 | M.Cap: Rs 12,878 crore.

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