As the festive season approaches, investors are gearing up for Muhurat Trading, a symbolic event that marks the beginning of the new Samvat year in the Indian stock market. This year, as we transition into Samvat 2081, ICICI Direct has identified seven stocks that they believe will offer significant upside potential during this auspicious trading period.
Current Market Outlook
With just 48 hours left until the start of Samvat 2081, the Indian stock market is witnessing a robust bull run. Despite some selling pressure from Foreign Portfolio Investors (FPIs) amidst attractive opportunities in the Chinese markets, major brokerages remain optimistic about the growth prospects of the Indian economy. ICICI Direct projects that earnings for listed companies will grow at a 14% CAGR (compounded annual growth rate) from FY24 to FY26, with a target for the Nifty 50 index set at 27,500.
ICICI Direct’s Recommended Stocks for Muhurat Trading
Here are the seven stocks recommended by ICICI Direct for investors looking to make gains during Muhurat Trading:
1. Sansera Engineering Ltd
- Buying Range: ₹1,490 – ₹1,590
- Current Market Price: ₹1,580
- Target Price: ₹2,000
- Potential Upside: 27%
Overview: Sansera Engineering is a leading manufacturer of precision-engineered components for the automotive and aerospace industries. The company has been expanding its product portfolio and enhancing operational efficiencies.
2. PCBL (Phillips Carbon Black Ltd)
- Buying Range: ₹435 – ₹470
- Current Market Price: ₹447
- Target Price: ₹600
- Potential Upside: 34%
Overview: PCBL is one of India’s largest manufacturers of carbon black, a critical ingredient in tire manufacturing. With increasing demand for eco-friendly products and expansion plans, PCBL is well-positioned for growth.
3. NCC Ltd (Nagarjuna Construction Company)
- Buying Range: ₹275 – ₹300
- Current Market Price: ₹286
- Target Price: ₹400
- Potential Upside: 40%
Overview: NCC is a prominent player in the construction and infrastructure sector in India. The company has a strong order book and is expected to benefit from increased government spending on infrastructure projects.
4. Tech Mahindra Ltd
- Buying Range: ₹1,680 – ₹1,750
- Current Market Price: ₹1,735
- Target Price: ₹2,000
- Potential Upside: 15%
Overview: Tech Mahindra is a leading IT services provider specializing in digital transformation and consulting services. The company’s focus on innovation and technology solutions positions it well in a competitive market.
5. Tata Power Company Ltd
- Buying Range: ₹410 – ₹450
- Current Market Price: ₹437
- Target Price: ₹530
- Potential Upside: 21%
Overview: Tata Power is one of India’s largest integrated power companies with a diverse portfolio spanning generation, transmission, and distribution. The company’s commitment to renewable energy makes it a strong candidate for future growth.
6. NATCO Pharma Ltd
- Buying Range: ₹1,300 – ₹1,390
- Current Market Price: ₹1,347
- Target Price: ₹1,680
- Potential Upside: 25%
Overview: NATCO Pharma specializes in developing and manufacturing generic pharmaceuticals. With a strong pipeline of products and expanding international presence, NATCO is set to capitalize on growing healthcare demands.
7. HDFC Asset Management Company Ltd (HDFC AMC)
- Buying Range: ₹4,385 – ₹4,580
- Current Market Price: ₹4,435
- Target Price: ₹5,500
- Potential Upside: 24%
Overview: HDFC AMC is one of India’s leading asset management companies with a robust portfolio of mutual funds and investment solutions. The company’s strong brand reputation and consistent performance make it a reliable investment choice.
Conclusion
As investors prepare for Muhurat Trading on Diwali evening, these seven stocks recommended by ICICI Direct present promising opportunities for growth in the upcoming Samvat year. With solid fundamentals and favorable market conditions ahead, these stocks could be key players in your investment strategy.
Disclaimer: The views and recommendations provided in this article are those of individual analysts or broking companies and do not represent the views of Mint. We strongly advise investors to consult with certified experts before making any investment decisions.
