Diwali 2026 Muhurat Trading Stock Picks: Apollo Tubes to Ujjivan Small Finance Bank for Samvat 2083

Diwali 2026 brings a fresh set of stock ideas for investors looking at opportunities for Samvat 2083. Kotak Neo’s recommendations cover companies for Diwali muhurat trading across sectors such as infrastructure, consumer technology, defence, speciality chemicals, information technology, jewellery and banking.

The two categories identify Diwali stocks based on Kotak Neo’s in-depth fundamental and technical analysis.

Fundamental Diwali 2026 Muhurat Trading Stock Picks

Kotak Neo’s fundamental research report identifies seven Diwali stocks for Samvat 2083, with ratings ranging from BUY to ADD. The recommendations include companies from manufacturing, consumer technology, defence, chemicals, IT, jewellery and banking.

The table below summarises the research ratings, prices, target prices and key valuation estimates for Diwali muhurat trading stocks.

Diwali 2026 Stock Picks

1. APL Apollo Tubes

APL Apollo Tubes, India's largest structural steel tube manufacturer, has a portfolio of over 5,000 products and a distribution network spanning more than 300 cities. The company plans to increase its structural steel capacity from 5 million tonnes to 8 million tonnes by FY28, while its value-added products are expected to support profitability. Its business is positioned to benefit from infrastructure, construction, energy and urban development activity.

Our analysis estimates revenue and profit after tax growth at around 16% and 19% CAGR, respectively, between FY26 and FY29.

2. Eternal

Eternal's consumer technology business, particularly quick-commerce platform Blinkit, remains a key growth driver. During Q2FY27, the report noted year-on-year growth of 21% in Zomato's NOV and 79% in Blinkit's NOV, along with sequential improvement in adjusted EBITDA margins. Blinkit aims to expand its dark-store network to more than 3,500 by March 2027.

Eternal is expected to deliver a revenue CAGR of 63% between FY26 and FY29, with EBITDA margin projected to improve from 2.2% to 4.6% over the same period.

3. Hindustan Aeronautics

Hindustan Aeronautics (HAL) has an order book of ₹2.55 lakh crore as of FY26, providing estimated revenue visibility of seven to eight years. Its near-term opportunity pipeline stands at around ₹90,000 crore, with potential orders linked to programmes such as Tejas Mk2, the Light Utility Helicopter and the Indian Multi Role Helicopter. The company also has opportunities in Su-30MKI upgrades, exports and civil aerospace.

Our analysis expects HAL's revenue to grow at a 16% CAGR over the next five years.

4. Jubilant Ingrevia4. Jubilant Ingrevia

Jubilant Ingrevia's outlook remains positive despite concerns around Middle East tensions, its Zettaone acquisition and the FMC contract. The company has retained its FY27 EBITDA guidance of ₹750-800 crore, with management expecting performance to be closer to the upper end following a strong first half. Its existing speciality chemicals order book is expected to generate an additional ₹500 crore in annual revenue over FY27-FY29.

Growth in the nutrition business and a new product pipeline are also expected to support performance, while we estimate that earnings per share could double between FY26 and FY29.

5. Persistent Systems

Persistent Systems is positioned to benefit from rising technology spending driven by artificial intelligence (AI). The proposed Nagarro acquisition could expand its enterprise reach, while management is expected to focus on improving the acquired business's performance, revenue growth and margins. Strong deal bookings are expected to support near-term growth.

We estimate an organic revenue growth of 19.9% in constant currency terms for FY27 and a consolidated earnings per share CAGR of 31% between FY27 and FY29.

6. Titan Company

Titan Company could benefit from a more stable gold price environment, which may support market-share gains and jewellery margins. The company has retained its guidance of 19-20% CAGR in consolidated jewellery sales and aims to gain 250 basis points in market share to reach 11%.

We see room for further growth given Titan's relatively low market share. Normalised jewellery margins are estimated at around 11%, while consolidated jewellery sales and EBIT are projected to grow at 17% and 18% CAGR, respectively, between FY26 and FY29.

7. Ujjivan Small Finance Bank

Ujjivan Small Finance Bank operates 880 branches across 26 states and Union Territories, with a loan book of ₹45,700 crore. Its Q2FY27 performance included a return on equity of 20% and return on assets of 2.4%, while credit cost remained below 1%. The loan book grew 32% year on year, with microfinance lending growing around 20% even as its share in the overall book moderated to 48%. Deposits increased around 30%.

Our analysis shows stable asset quality, with slippages remaining flat sequentially at 1.7%. For FY27, we expect a return on assets of 1.8-2.0%.

Technical Diwali Muhurat Trading Stock Picks

For Samvat 2083, we have identified five stocks with potential technical buying opportunities across banking, financial services, metals, defence and energy. Our technical picks for Diwali Muhurat Trading 2026 include Bajaj Finance, ICICI Bank, JSW Steel, Bharat Electronics and Reliance Industries. These Diwali stocks have been selected based on their price trends, support levels and momentum indicators.

The table below summarises the entry levels, target prices and stop-loss levels for the technical Diwali muhurat trading stock picks.

1. Bajaj Finance

Bajaj Finance has corrected by more than 20% from its peak and is now trading near its 200-day Simple Moving Average (SMA). Momentum indicators are showing early signs of recovery, creating a potential positional buying opportunity. We recommend accumulating 50% of the position at current levels and the remaining 50% around ₹850. We have a target price of ₹1,200 and a stop-loss of ₹770.

2. ICICI Bank

ICICI Bank has found strong support around ₹1,300 following its recent correction and has witnessed a sharp recovery. The stock is trading above its 20-day and 200-day SMAs, indicating that its broader uptrend remains intact. We see further upside potential as long as the stock holds above ₹1,200. We recommend buying at current levels and adding on declines towards ₹1,400–₹1,300, with a target price of ₹1,800 and a stop-loss below ₹1,200.

3. JSW Steel

JSW Steel has corrected by more than 13% from its all-time high and is approaching an important support zone. Its weekly chart shows a higher-bottom formation, indicating the possibility of a recovery. We recommend buying at current levels and adding to the position near ₹1,200. Our target price is ₹1,475, with a stop-loss below ₹1,150.

4. Bharat Electronics

Bharat Electronics has corrected by more than 20% from its all-time high and is trading near a key retracement support zone. Its daily chart and momentum indicators are in oversold territory, suggesting the possibility of a recovery. We recommend taking 50% exposure at current levels and adding the remaining 50% around ₹350. A sustained hold above ₹340 could support a move towards our target of ₹410, while ₹340 remains the stop-loss level.

5. Reliance Industries

Reliance Industries has corrected by more than 25% from its all-time high and is now approaching a key support zone. Momentum indicators suggest the possibility of a fresh uptrend emerging from these levels. We recommend initiating a position at current levels and adding on declines towards ₹1,100. Our target price is ₹1,400, with a stop-loss below ₹1,050.

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