MUMBAI: Brokerage firm Motilal Oswal Financial Services has released its Muhurat Diwali Picks for Samvat 2083, naming 10 stocks it expects to deliver gains of 8% to 41% over the coming year.
The list includes large companies such as Kotak Mahindra Bank, Adani Ports, Titan, Eternal and BSE, along with smaller names such as SPR Auto Technologies, Shaily Engineering, Arvind, Unimech Aerospace and Symbiotec Pharmalab.
A difficult year for markets
The brokerage said Samvat 2082 tested investors’ patience. The Nifty50 fell about 12% till October 29, 2026, hit by the West Asia conflict, Brent crude above $100 a barrel, a rupee near ₹95 to the dollar, and foreign institutional investor (FII) outflows of about $28 billion between January and September.
Rising inflation, which touched 5.54% in September, also led the Reserve Bank of India to raise the repo rate by 25 basis points to 5.50%.
However, Motilal Oswal said India’s fundamentals held firm. GDP grew 7.8% in the April-June quarter, and record monthly SIP inflows of ₹32,490 crore in September absorbed foreign selling. The primary market also stayed active, with Jio Platforms’ IPO and NSE’s listing among the highlights and more than 225 companies in the IPO pipeline.
Valuations now attractive
According to the brokerage, the Nifty now trades at 17.5 times forward earnings, about 16% below its long-term average. It expects Nifty earnings to grow 16% in FY27 and 14% in FY28, compared with just 5% in FY26.
Midcaps trade 6% below their long-term average, while smallcaps still carry a 25% premium. The brokerage advised a selective approach to stock picking.
Sectors in focus
Motilal Oswal said it is positive on four themes: banking, financial services and capital markets; manufacturing; global outsourcing and exports; and discretionary consumption and digital businesses.
It expects bank credit to grow 15.1-15.9% in FY27. A weaker rupee and trade deals with the UK, Oman and New Zealand are expected to support exporters.
The 10 picks
Price as on October 30, 2026 → target price (expected upside)
- Kotak Mahindra Bank: ₹462 → ₹500 (8%)
- Adani Ports: ₹1,850 → ₹2,130 (15%)
- Titan: ₹4,437 → ₹6,000 (35%)
- Eternal: ₹344 → ₹420 (22%)
- BSE: ₹3,510 → ₹4,000 (14%)
- SPR Auto Technologies: ₹4,374 → ₹6,150 (41%)
- Shaily Engineering: ₹3,170 → ₹4,074 (29%)
- Arvind: ₹491 → ₹670 (37%)
- Unimech Aerospace: ₹1,579 → ₹2,138 (35%)
- Symbiotec Pharmalab: ₹1,246 → ₹1,430 (15%)
Why these stocks
The brokerage said Titan should gain as jewellery buying shifts to organised players, while Eternal is expected to benefit from Blinkit’s expansion to over 3,500 stores by the end of FY27. BSE‘s futures and options turnover rose 85% in October so far.
Among smaller names, SPR Auto, formerly Shriram Pistons & Rings, holds over 45% market share in pistons. Shaily Engineering is expected to grow on rising demand for GLP-1 drug pens. Unimech Aerospace is backed by long-term global aerospace contracts and a nuclear order book, while Symbiotec Pharmalab holds a 38% global volume share in steroid-based pharmaceutical ingredients.
Disclaimer: The stock picks and views above are those of Motilal Oswal Financial Services. 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.