The festival of Diwali (Diwali 2024) is near and a special Muhurat trading will take place on November 1 in the stock market. Meanwhile, market experts have also started publishing the list of best stocks to bet on this time. Today we are going to tell you about 5 such top stocks for which experts have set a new target price and it is estimated that you can make huge profits by betting on these stocks on Diwali. This list includes stocks ranging from Bajaj Auto to TCS and HCL.
The stock market shined this year
Samvat 2080 has proven to be a great year for the stock market and the 20-share Sensex of the Bombay Stock Exchange has reached the level of 85,900 with a rapid rise. Along with this, the Nifty index of the National Stock Exchange also gained great momentum and reached the figure of 26,250. However, since the last few days, the trend of the stock market seems to be changing and after starting at the green mark, it suddenly closes with a drop. Now experts seem optimistic about the beginning of Diwali Samvat 2081. Let us know about the top 5 stocks where big profits are expected when betting.
Bajaj Auto Share
Bajaj Auto Share tops the list of favorite stocks for Diwali, for which Choice Broking has set a target of Rs 12,483. The brokerage believes that this action can be profitable in the medium and long term. Showing a positive attitude towards the company’s growth, this auto stock was rated Buy by the brokerage. On Tuesday, the second day of the week, this stock closed at Rs 10,415.95.
Bharat Dynamic Sharing
Bharat Dynamics Limited or BDL Share has been listed at number two. In view of the company’s numerous major projects and export opportunities, Choice Broking has also included it in the list of favorite Diwali stocks and considering the company’s order book of Rs 19.5 billion, it has been has assigned a new target of Rs 1,501. On Tuesday, this defense stock closed at Rs 1,057.
ACC cement share
Shares of Indian billionaire and Adani Group Chairman Gautam Adani’s cement company ACC Limited are also included in the list of Diwali favorite stocks with a new target price of Rs 2,795. The company aims to double its production capacity to 140 tonnes by FY28, much more than its current capacity of 89 tonnes. In such a situation, experts are also optimistic about its growth. When the market closed on Tuesday, these Adani shares closed at Rs 2,258.50.
Share TCS
Shares of Tata Consultancy Services (TCS Share), the IT company of Tata Group, one of the oldest business houses in the country, fell 1.47 per cent and closed at Rs 4,020 on Tuesday amid the market decline stock, but the brokerage has Given this Tata action, a new target price of Rs 4,664 has been set. The brokerage trusts that the company is making important investments for its growth.
Share HCl
Technology sector giant HCL is also included in the list of favorite Diwali stocks. According to Choice Broking, the company’s deal pipeline is very strong and includes opportunities such as data, artificial intelligence, digital engineering, SAP migration and others. Therefore, the brokerage expects revenue, EBIT and PAT to grow at a CAGR of 10.5%, 13.5% and 13.7% respectively during FY24-27E. Broking House expected these shares to reach Rs 2,105, which closed at Rs 1,822.25 on Tuesday.
(Note: Before making any type of investment in the stock market, definitely consult your market experts.)
