Diwali Samvat 2082: Religare Broking Recommends 5 Stocks To Buy; Reliance Industries & Maharatna PFC In List

Diwali enthusiasm has already kicked off in India ahead of its arrival. Diwali is a popular and widely celebrated Hindu festival in India, which signifies light over darkness, good over evil, and knowledge over ignorance.

This year Diwali will commence the start of Vikram Samvat 2082, a Hindu lunisolar calendar that is 56 to 57 years before the Gregorian calendar or western calendar. That being said, brokerage Religare has recommended buying 5 stocks this Diwali for Vikram Samvat 2082. Check the list:

Reliance Industries (RIL) Share Price:

According to the analysts at Religare, the outlook on Reliance Industries is robust due to its sustained momentum in the high-growth consumer businesses (Jio and Retail) and the impending monetization of the New Energy giga-complex.

These analysts are predicting this to translate to strong consolidated Revenue/EBITDA to grow at a CAGR of 10%/15.1% over FY25-27E, as resilient O2C cash flows continue to fund new growth engines.

Also, the current valuation does not fully capture the immense value-unlocking potential from the New Energy and consolidated Media businesses. Hence, while maintaining a BUY rating, Religare stated that these catalysts are expected to drive a re-rating and support a target price of Rs 1,600.

It needs to be noted that Reliance is the only oil and gas stock in Religare's list for Samvat 2082. Currently, this Mukesh Ambani-backed stock is at Rs 1398.05 apiece, with market cap of Rs 18,91,907.34 crore, making it the most valued stock of Indian market.

2. HDFC Life Insurance Share Price:

What makes HDFC Life a hot pick is its consistent execution, strong brand franchise, and industry-leading profitability metrics.

For the long-term, the outlook is robust on HDFC Life due to its strategic expansion into underpenetrated Tier 2/3 markets, a growing protection business, and a relentless focus on digital innovation.

Analysts estimate an Embedded Value (EV) CAGR of over 17% through FY27, reflecting sustained value creation. While near-term margin pressures are largely priced in, the company's resilient business model and clear growth drivers support continued upside.

"We value the stock at 2.6x its FY27E EV, maintaining a positive outlook with a target price of Rs. 870," said the analysts.

Powered by HDFC Bank, this life insurance stock is at Rs 742.90 apiece on BSE, with market cap of Rs 1,60,175.65 crore as of October 16th.

3. Power Finance Corporation (PFC) Share Price:

PFC is the only Maharatna under the Religare's list, which is engaged in financial services to power sector. PFC's outlook is strong driven by its strategic role in financing India's energy transition and infrastructure growth.

The PSU giant is expected to capitalize on a healthy disbursement pipeline, stable profitability, and resilient asset quality, which are projected to deliver a PAT CAGR of 12.3% over FY25-27E.

Analysts are valuing PFC on a standalone basis at 0.9x its FY27E Adjusted Book Value and add the value of its stake in REC (with a 30% holding company discount). This methodology supports continued upside, and we maintain a positive outlook with a target price of Rs 502.

At present, PFC share price stood at Rs 401.65 apiece on BSE, with market cap of Rs 1,32,548.59 crore.

4. Mahindra & Mahindra Financial Services Share Price:

M&M Financial Services is the second NBFC in Religare's list to buy. According to the analysts here, the long-term outlook for MMFS is positive, supported by its deep rural presence,

strong promoter backing, and a clear strategy for portfolio diversification.

"With steady AUM growth, improving cost efficiencies, and stable asset quality, the company is well-positioned for healthy earnings momentum. We maintain a positive outlook with

a Buy rating and a target price of Rs. 327, valuing the company at 1.4x its FY27E adjusted book value,'' said Religare's research note.

Trading at Rs 293.25 apiece, M&M Financial Services has a market cap of Rs 40,760.90 crore.

5. Nuvoco Vistas Corporation Share Price:

Among the top 5 picks, Nuvoco is the only cement stock that is recommended to buy with a target price of Rs 478. The outlook of the company is positive, underpinned by strong industry tailwinds and projected demand growth in the cement sector.

Nuvoco's strong operational performance, coupled with the strategic expansion through the Vadraj acquisition,

provides clear visibility for future earnings. Management's dual focus on deleveraging the core business while efficiently managing capex for growth inspires confidence.

As of October 16th, the share price of Nuvoco stood at Rs 412.80 apiece on BSE, with market cap of Rs 14,743.41 crore.

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