Diwali 2024 is approaching and special Muhurat trading in the stock market will be held on November 1. At the same time, market experts are starting to publish better lists of stocks to bet on this opportunity. Today we are going to introduce you to 5 such top stocks for which experts have set new target prices and you are expected to make huge profits by betting on these stocks this Diwali. The list includes stocks from Bajaj Auto to TCS and HCL.
Stock market shines this year
Samvat 2080 has proved to be a good year for the stock market, with the 20-share Sensex index on the Bombay Stock Exchange rising rapidly to the 85,900-point level. Meanwhile, the National Stock Exchange Nifty index also rose sharply, touching 26,250 points. However, in recent days, the trend of the stock market seems to have changed, starting from the green line and suddenly closing down. Now, experts seem to be optimistic about Samvat 2081 starting from Diwali. Let’s take a look at the top 5 stocks where you can expect to bet on huge gains.
Bajaj car sharing
Bajaj Auto Share tops the list of most popular stocks for Diwali with Choice Broking giving it a target price of Rs 12,483. Brokerages believe the stock can be profitable in the medium to long term. Brokerages showed a positive attitude towards the development of the auto stock and gave it a buy rating. On Tuesday, the second day of the week, the stock closed at Rs 10,415.95.
Bharat dynamic sharing
Bharat Dynamics Limited or BDL Share comes second. It was also included in Choice Broking’s list of most favored stocks for Diwali given its numerous large projects and export opportunities and has been given a new target of Rs 1,501 considering the company’s order book of Rs 19,501 crore. On Tuesday, the defense stock closed at Rs 1,057.
ACC cement stocks
Shares of Indian billionaire and Adani Group Chairman Gautam Adani’s cement company ACC Limited were also included in the list of most popular Diwali stocks with a new target price of Rs 2,795. The company aims to double its production capacity to 140 tons by fiscal 2028, much higher than its current capacity of 89 tons. In this case, experts are also optimistic about its growth. At the close on Tuesday, Adani shares closed at Rs 2,258.50.
TCS share
Shares of Tata Consultancy Services (TCS Share), an IT company owned by the Tata Group and one of India’s oldest companies, fell 1.47% to close at Rs 4,020 on Tuesday as the stock market fell. Given that the new target price for the Tata stock is Rs 4,664. The brokerage believes the company is making significant investments given its growth.
HCL Share
Technology industry major HCL has also been included in the list of favorite stocks for Diwali. Choice Broking said the company’s deal pipeline is strong and includes opportunities in data, artificial intelligence, digital engineering, SAP migration and more. Therefore, the brokerage expects revenue, EBIT and PAT to grow at a CAGR of 10.5%, 13.5% and 13.7% respectively during FY24-FY27E. Broking House expects the stock to hit Rs 2,105, having closed at Rs 1,822.25 on Tuesday.
(Note – Always take advice from market experts before making any kind of investment in the stock market.)
