Top Diwali 2026 Muhurat stocks to buy: Axis Securities lists 9 shares for Samvat 2083 | Check target, upside
Diwali 2026 Muhurat picks: Brokerage firm Axis Securities, in its latest report titled as ‘Axis Diwali Mahurat Picks: SAMVAT 2083’, has listed out top nine stocks to buy for long-term with an upside potential up to 20%.
Meanwhile, benchmark indices Sensex and Nifty opened lower on Tuesday, weighed down by persistently high crude oil prices and selling pressure in IT stocks. The 30-share BSE Sensex fell 281.95 points to 73,316.21 in early trading, while the 50-share NSE Nifty dropped 63.15 points to 22,694.60.
Diwali 2026: Stock market outlook
Brokerage firm Axis Securities said that returns over Diwali 2026 to Diwali 2027 will increasingly depend on buying the right businesses at sensible valuations, monitoring earnings delivery and avoiding excessive concentration in expensive or speculative ideas.
It further added that the coming Samvat is likely to be shaped by the interaction of global inflation, crude oil prices, monetary-policy decisions, foreign capital flows and domestic earnings delivery. These variables may keep markets volatile and make a straight-line recovery unlikely. Yet volatility can create opportunities for investors prepared to focus on business fundamentals and maintain a medium-term perspective.
“However, the outlook is not without risks: elevated energy prices and a weaker monsoon could affect inflation, rural demand and corporate margins. The balance between resilient domestic growth and imported cost pressures will be an important determinant of market performance through Samvat 2083,” the firm said.
Diwali 2026 Muhurat stocks to buy by Axis Securities
DCB Bank: Target - ₹240 | Upside: 20%
We value the stock at 0.9x Sep’28E ABV to arrive at a target price of ₹240/share, implying an upside of 20% from the CMP. We recommend a BUY on the stock.
Nephrocare Health Services: Target - ₹710 | Upside: 19%
We value the stock at 33 P/E to arrive at a TP of ₹710/share. We recommend a BUY on the stock, with the TP implying an upside potential of 19% from the CMP.
Indian Hotels Company: Target - ₹900 | Upside: 15%
We value the stock at 28x FY28E EBITDA to reach a target Price of ₹900/Share an upside of 15% from the CMP
Ashok Leyland: Target - ₹170 | Upside: 17%
We value the stock on a P/E basis to arrive at a TP of ₹170/share, implying an upside of 17% from the CMP. We recommend a BUY on the stock.
Coforge: Target - ₹2,245 | Upside: 18%
We value the company at 27x FY28E EPS, and recommend a BUY rating on the stock with a TP of ₹2,245/share, implying an upside of 18% from the CMP.
Eternal: Target - ₹365 | Upside: 15%
We recommend a BUY on the stock with a TP of ₹365/share based on an SOTP valuation, implying a 15% upside from the CMP.
Hindalco Industries: Target - ₹1,000 | Upside: 15%
We value the stock on a SoTP with a 12MF EV/EBITDA target of 6.5x/5.5x/6.0x on Mar’28 EBITDA for Indian Aluminium, Copper, and Novelis. We recommend a BUY on the stock with a TP of ₹1,000/share, implying an upside of 15% from the CMP.
APL Apollo Tubes: Target - ₹2,340 | Upside: 15%
On the valuation front, the stock is currently trading at 35x its 12-month forward consensus EPS compared to its TTM of 43x. Based on the P/E multiple approach for valuation and the company's strong long-term growth trajectory, we recommend a BUY on the stock with a Target Price of ₹2,340, implying an upside of 15% from the CMP.
Elecon Engineering Company: Target - ₹500 | Upside: 20%
We value the company at 22x Sep’28E EPS and recommend a BUY on the stock with a TP of ₹500/share, implying an upside of 20% from the CMP.