Muhurat Trading Picks: Shanti Gold to Apollo Micro Systems - Angel One’s 8 stocks to buy on Diwali 2026 for Samvat 2083
As Diwali 2026 approaches, investors are gearing up for one of the most-awaited traditions on Dalal Street — Muhurat Trading. Marking the beginning of Samvat 2083, the special stock market session is considered an auspicious occasion to make fresh investments, welcome Goddess Lakshmi and seek wealth creation in the year ahead. While the festive session is often marked by symbolic buying, investors are also looking for promising stocks that could deliver long-term returns.
The NSE and BSE will conduct Muhurat Trading 2026 on Sunday, 8 November, coinciding with Diwali Lakshmi Puja, with the regular trading session scheduled from 2:20 PM to 3:30 PM IST.
Adding to the festive stock ideas, Angel One Research has identified eight stocks across sectors that investors can consider for Samvat 2083, with potential upside of up to 32% from their 28 October closing prices based on its target prices.
Its recommendations include ICICI Bank, Northern Arc, Aarti Pharmalabs, Shanti Gold, Ratnaveer Precision, Engineers India, AGI Infra and Apollo Micro Systems. The brokerage's picks span financial services, healthcare, consumer discretionary, industrials, real estate and defence. Here is a look at the recommended stocks, their current market prices, target prices and estimated upside.
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CMP: ₹1,363 | Target price: ₹1,800 | Upside: 32%
Angel One values ICICI Bank at ₹1,800, based on 18.8 times its estimated FY29 earnings per share (EPS) of ₹95.70, factoring in expectations of mid-teens earnings growth.
The brokerage noted that ICICI Bank raised around $18 billion through FCNR(B) deposits under the RBI's swap facility in Q2 FY27. This pushed deposit growth to 27.1%, compared with 17% excluding FCNR deposits, while loan growth reached 30%, or 24.1% excluding loans against FCNR deposits.
While the funding provides stability over the next three to five years, it has temporarily weighed on the bank's net interest margin (NIM), which declined to 4.18% from 4.36%. Excluding the impact of a tax refund in Q1, the NIM stood at around 4.28%.
Angel One expects the full impact of the funding mix to be reflected in Q3 FY27, followed by a recovery from Q4 as the funds are deployed and higher-cost deposits are retired.
CMP: ₹255 | Target price: ₹330 | Upside: 29%
Angel One has a Buy rating on Northern Arc Capital with a target price of ₹330, based on approximately 6.1 times its estimated FY29 EPS of ₹54. This implies a valuation of around one time FY29 estimated book value, compared with the stock's current valuation of 4.5 times, according to the brokerage.
Angel One expects Northern Arc's lending assets under management (AUM) to grow at around 20% annually to approximately ₹28,600 crore by FY29. A greater contribution from direct-to-customer lending is expected to lift NIM towards 10%.
The brokerage also expects return on equity (ROE) to improve from 11% to around 16%, supported by easing credit costs. It believes the stock's valuation remains reasonable relative to its earnings growth potential.
CMP: ₹879 | Target price: RS 1,160 | Upside: 32%
Angel One has initiated coverage on Aarti Pharmalabs with a Buy rating and a target price of ₹1,160, based on 24 times its estimated FY29 EPS of ₹48. The stock currently trades at around 17.1 times earnings, according to the brokerage.
Angel One expects an earnings recovery as the company moves up the value chain from xanthine and active pharmaceutical ingredients (APIs) towards contract development and manufacturing organisation (CDMO) services.
The CDMO business is expected to grow 40–50% in FY27, while standalone EBITDA margins are guided to reach 22–25%. The brokerage believes the valuation remains attractive relative to the expected improvement in ROE from 8.5% to 15%.
CMP: ₹316 | Target price: ₹410 | Upside: 30%
Angel One has assigned a Buy rating to Shanti Gold International with a target price of ₹410, based on 10.5 times its estimated FY29 EPS of ₹39.
The brokerage expects the company to sustain volume-led growth, supported by additional manufacturing capacity at Marol and Jaipur and the addition of new retail customers. These factors could support revenue growth of 50–60% in FY27.
While Angel One sees potential for earnings growth, it noted that the stock's valuation remains reasonable relative to its ROE of 38%. However, it cautioned that the upside could be relatively modest following the sharp re-rating since August.
CMP: ₹344 | Target price: ₹400 | Upside: 16%
Angel One has initiated coverage on Ratnaveer Precision Engineering with a Buy rating and a target price of ₹400, based on 30 times its estimated FY29 EPS of ₹13.40.
The brokerage expects earnings growth to be supported by the company's core washer business and the upcoming Copper Clad Laminate (CCL) project. Production at the new facility is expected to begin in November 2026, adding a higher-margin electronics business to its portfolio.
Angel One identified the execution and ramp-up of the CCL project as a key factor that investors should monitor.
CMP: ₹248 | Target price: ₹320 | Upside: 29%
Angel One sees scope for sustained earnings growth at Engineers India as the company gradually increases the contribution of higher-margin consultancy services.
The brokerage highlighted the company's ₹14,424 crore order book and its target of achieving ₹5,000 crore in revenue by FY28 as key growth drivers. It expects the changing business mix and strong project pipeline to support earnings visibility.
Angel One's supplied valuation commentary assigns the stock a target price of ₹365, based on 22.3 times estimated FY29 EPS of ₹16.
CMP: ₹221 | Target price: ₹285 | Upside: 29%
Angel One has initiated coverage on AGI Infra with a Buy rating and a target price of ₹285, based on 24.6 times its estimated FY29 EPS of ₹12. The stock currently trades at around 18.5 times earnings, according to the brokerage.
The brokerage expects earnings growth to be driven by the company's expansion across Punjab and new launches in Tier-II markets. Its ability to sustain EBITDA margins of 35% or higher is another factor supporting the investment case.
CMP: ₹415 | Target price: ₹475 | Upside: 15%
Angel One has reiterated its positive view on Apollo Micro Systems following the company's strong Q2 FY27 performance and recommended adding to the stock, with a revised target price of ₹475.
The company reported 72% revenue growth in Q2 FY27, an EBITDA margin of 28.6% and a net profit of ₹46 crore. Its order book reached a record ₹1,765 crore, while H1 FY27 revenue growth stood at 78%, already exceeding its full-year growth guidance of 40–45%.
Angel One expects the company to sustain its earnings growth as it moves up the defence value chain, expanding into explosives and integrated weapon systems.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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