Diwali is not only a time for celebrations but also a significant occasion for stock market enthusiasts. Every year, during the festival of lights, the stock market remains open for a special one-hour session known as Muhurat trading. This year, Muhurat trading will be held on November 1, 2024, between 6 pm and 7 pm, marking the beginning of the Hindu New Year, Samvat 2081.
Investors believe that trading during this session brings prosperity throughout the year, making it an auspicious time to invest in stocks. Several brokerage firms have already released their top picks for this special occasion. Let’s take a look at some of the stocks that analysts have recommended for Muhurat trading this year.
HDFC Securities’ Diwali Stock Picks for 2024
HDFC Securities has selected a few promising stocks for Muhurat trading 2024, which they expect to perform well over the coming months:
- Bank of India: Target price – Rs 132
- JK Lakshmi Cement: Target price – Rs 936
- Jyothy Labs: Target price – Rs 600
- L&T Finance: Target price – Rs 219
- NALCO (National Aluminum Company): Target price – Rs 270
- Navin Fluorine: Target price – Rs 3948
- NCC Ltd: Target price – Rs 363
- PNB Housing Finance: Target price – Rs 1160
- Reliance Industries: Target price – Rs 3243
- SBI (State Bank of India): Target price – Rs 96
HDFC Securities’ picks include a mix of large and mid-cap stocks from diverse sectors, giving investors a broad range of options to choose from.
Anand Rathi’s Diwali Stock Recommendations for 2024
Anand Rathi has also released its top recommendations for investors looking to take advantage of Muhurat trading this Diwali. Their picks include infrastructure, technology, and financial stocks:
- IFCI: Target price – Rs 80 to Rs 88, Expected return – 50.4%
- IRB Infrastructure Developers: Target price – Rs 79 to Rs 86, Expected return – 49.6%
- Jupiter Wagons: Target price – Rs 700 to Rs 760, Expected return – 49%
- Hindustan Zinc (HINDZINC): Target price – Rs 680 to Rs 750, Expected return – 50%
- Tata Tech: Target price – Rs 1360 to Rs 1450, Expected return – 36.8%
- Garden Reach Shipbuilders & Engineers: Target price – Rs 2425 to Rs 2650, Expected return – 52.3%
- BEML: Target price – Rs 4800 to Rs 5400, Expected return – 42.1%
With a focus on high-return potential, Anand Rathi’s stock picks are ideal for aggressive investors looking for growth opportunities during the new Samvat.
Systematix’s Diwali Stock Picks for Muhurat Trading
Systematix has put together a balanced portfolio of stocks for Diwali 2024. Their recommendations include financial services, technology, and hospitality companies:
- PNB Housing Finance: Target price – Rs 1333, Expected return – 43%
- Shriram Properties: Target price – Rs 152, Expected return – 30%
- Jana Small Finance Bank: Target price – Rs 700, Expected return – 30%
- One 97 Communications (Paytm): Target price – Rs 900, Expected return – 29%
- Protean eGov Technologies: Target price – Rs 2459, Expected return – 27%
- GMR Airports Infrastructure: Target price – Rs 108, Expected return – 25%
- Lemon Tree Hotels: Target price – Rs 155, Expected return – 23%
- National Aluminum Company: Target price – Rs 275, Expected return – 23%
- Zomato: Target price – Rs 320, Expected return – 18%
- Jash Engineering: Target price – Rs 3000, Expected return – 16%
These stocks are chosen for their stability and growth potential, offering a balanced approach to building wealth in the new year.
Ashika’s Diwali Picks for Samvat 2081
Ashika has provided stock recommendations with significant growth potential for investors looking to bet on key sectors such as oil, engineering, and technology:
- ONGC (Oil and Natural Gas Corporation): Target price – Rs 350, Expected return – 24.1%
- Kaynes Technology: Target price – Rs 7000, Expected return – 25.4%
- Eris Lifesciences: Target price – Rs 1700, Expected return – 25.9%
- Isgec Heavy Engineering: Target price – Rs 1850, Expected return – 30.4%
- Nazara Technologies: Target price – Rs 1130, Expected return – 25.8%
- EMS: Target price – Rs 1080, Expected return – 25.9%
- Axiscades Technologies: Target price – Rs 640, Expected return – 22.6%
Ashika’s recommendations cater to investors looking for high returns in sectors such as energy, healthcare, and technology.
Muhurat Trading 2024: A Tradition of Wealth Creation
Muhurat trading has been a tradition in the Indian stock market for decades. It started in 1957 on the Bombay Stock Exchange (BSE) and later in 1992 on the National Stock Exchange (NSE). The special one-hour trading session is held every Diwali, allowing investors to make new investments in a festive and positive atmosphere.
Many investors believe that investing during this session brings good luck and prosperity, and it has become a cultural tradition for the Indian trading community. The new Samvat 2081 begins this year, and brokerage houses have released their top stock picks to help investors maximize their returns.
Note: As always, it’s important to do thorough research and consult financial experts before making any investment decisions.
