Muhurat Trading: Muhurat Trading is one of the most anticipated traditions of the Indian stock market, as investors mark the beginning of the new Hindu calendar year, or Samvat, with a special trading session on Diwali.
The session is considered auspicious, and many market participants use it to make symbolic purchases, begin fresh investments or review their portfolios for the year ahead. While the occasion carries cultural significance, investment decisions still need to be guided by business fundamentals, earnings visibility, valuations and risk appetite rather than the sentiment of the day.
As Samvat 2083 begins, investors will be watching for companies that can translate India’s growth opportunities into sustained financial performance. Religare Broking’s festive-season report has identified eight companies across financial services, infrastructure, technology, automobiles, hospitality, power and pharmaceuticals. The brokerage’s selections are based on company-specific growth drivers and the potential for earnings to outperform their respective sectors over the medium term.
Religare Broking said its Diwali stock picks were based on the potential for earnings growth to exceed sector expectations, supported by business-specific catalysts. The brokerage identified eight companies and assigned target prices indicating potential upside of 12.2% to 54.1%.
1. Bajaj Finance | Target price: ₹1,096 | Upside: 16.7%