Samvat 2083 has begun on a cautious note, with an external energy shock weighing on market sentiment despite the resilience of the domestic economy. The West Asia conflict has kept Brent crude prices above $100 per barrel, pushing CPI inflation to 5.54% in September and prompting a 25 basis points repo rate hike to 5.50%. However, JM Financial has picked 10 stocks with strong upside potential to buy this Diwali.
With a target price of Rs 1,710, JM Financial forecasts 24% upside from current levels. Bank continues to deliver sector-leading loan growth, healthy fee traction and best-in-class asset quality, while nearterm NIM pressure from FCNR(B) should ease as surplus liquidity is deployed from Q4FY27. Management expects NIMs to moderate further in Q3FY27, with recovery expected from Q4FY27, even without further rate hikes.
With a target price of Rs 485, the brokerage forecasts over 30% upside from current levels. BEL remains well positioned to benefit from several large strategic defence programs, including QRSAM, NGC, P-75I, Next Generation Corvettes, Project Kusha, AMCA, HAMMER, Shatrughat &Samaghat and Shakti Phase-IV. Management maintained its FY27E guidance of 15%+ revenue growth and 28%+ EBITDA margin and a five-year plan to indigenise all imported sub-systems.
The brokerage has pegged the target at Rs 400, an upside of 22% from current levels. Blinkit is evolving beyond a grocery-led quick-commerce platform as its strategy is increasingly focused on capturing a larger share of household consumption from traditional e-commerce through a broader assortment, including electronics and appliances. Rising SKU depth, dark-store density and supply-chain execution create a physical infrastructure moat that new entrants may find difficult to replicate quickly.
The brokerage has pegged the target at Rs 2,400, an upside of 23% from current levels. After years of elevated capital spending for 5G network expansion, Airtel’s capex intensity is declining due to completion of 5G rollouts and optimization of radio network investments, while incremental spending will focus selectively on transport networks, home broadband, enterprise, and data centers. Lower Capex Intensity is expected to fuel Strong FCF growth strengthening the balance sheet.