SURAT: Financial services company Jainam has released its annual Diwali Muhurat Picks 2026 – Samvat 2083 research report, naming five stocks across hospitality, private sector banking, IT services and telecom for the year ahead.
The picks are The Indian Hotels Company (IHCL), HDFC Bank, Kotak Mahindra Bank, Tech Mahindra and Bharti Hexacom. Jainam said they were chosen through a mix of fundamental and technical analysis, and its targets point to an upside of about 18% to 23% from current market prices.
A weak year for the markets
The report reviews market performance during Samvat 2082. Between the Muhurat Trading session on October 21, 2025 and October 30, 2026, the Nifty 50 fell 10.88% and the Sensex dropped 11.81%. Smaller stocks held up better, with the Nifty Midcap 150 down 4.21% and the Nifty Smallcap index down 3.02%.
Global uncertainty, elevated crude oil prices and sustained foreign investor selling weighed on markets through the year. FPI equity selling crossed ₹3 lakh crore.
Despite these headwinds, the economy stayed resilient. India’s real GDP grew 7.8% in the April–June 2026 quarter (Q1 FY27), and domestic investors kept buying, with monthly SIP inflows hitting a record ₹32,490 crore in September 2026.
The five picks
Current market price → target (stop-loss); Jainam suggests buying 50% at the current price and 50% at the lower level shown
- Indian Hotels (IHCL), Hotels & Resorts: ₹782 → ₹920 (stop-loss ₹630); buy range ₹782 and ₹700
- HDFC Bank, Private Sector Bank: ₹693 → ₹850 (stop-loss ₹562.50); buy range ₹693 and ₹630
- Kotak Mahindra Bank, Private Sector Bank: ₹430 → ₹520 (stop-loss ₹352); buy range ₹430 and ₹400
- Tech Mahindra, IT Services: ₹1,790 → ₹2,150 (stop-loss ₹1,480); buy range ₹1,790 and ₹1,685
- Bharti Hexacom, Telecom: ₹1,638 → ₹1,980 (stop-loss ₹1,354); buy range ₹1,638 and ₹1,565
The research evaluates each company’s business performance, financials, valuations, growth prospects and key risks.
What the research head said
Himanshu Gupta, Head of Research – Retail Broking (AVP), Jainam, said, “Samvat 2082 was a year in which market performance was shaped by several external factors, from geopolitical developments and crude oil prices to currency movements and foreign investor flows. At the same time, domestic economic growth and sustained SIP participation remained important features of the Indian market.”
“As we enter Samvat 2083, investors need to assess businesses through their earnings performance, valuations, growth prospects and the risks they carry. Our five selections bring together fundamental research and technical analysis to identify opportunities across different sectors,” Gupta said, adding that the report also sets out the key levels and risk parameters investors should consider.
The report also looks at the factors likely to steer the market in Samvat 2083, including India’s economic and policy environment, global interest rates, geopolitical developments, commodities, currency movements, institutional flows, market valuations and technical trends across key indices.
Disclaimer: The stock picks and views above are those of Jainam Broking Limited. They are not recommendations from The Times of Mumbai. Investment in securities markets is subject to market risks. Readers should consult a SEBI-registered advisor before investing.