According to JM Financial, these 12 stocks are expected to deliver strong gains this Diwali, offering investors a potential return of up to 31%. The following are the top 12 Diwali Stock Picks names as follows:
JM Financial’s Stock Picks
| Company | Current Price | Target Price | Potential Upside | Segment | Recommendation |
| Maruti Suzuki India | ā¹16,249 | ā¹19,000 | 16% | Auto | Buy |
| Fiem Industries | ā¹1,966 | ā¹2,400 | 22% | Automotive Components | Buy |
| Axis Bank | 1,167 | ā¹1,330 | 12% | Banking / Financial Services | Buy |
| IIFL Finance | 505.25 | ā¹600 | 22% | NBFC / Financial Services | Buy |
| L&T Finance | ā¹271.10 | ā¹300 | 12% | NBFC / Financial Services | Buy |
| Apollo Hospitals Enterprise | ā¹7,817 | ā¹9,000 | 17% | Healthcare / Hospitals | Buy |
| Lloyds Metals and Energy | ā¹1,343 | ā¹1,680 | 28% | Metals | Buy |
| Ratnamani Metals & Tubes | ā¹2,305 | ā¹2,900 | 25% | Metals & Pipes | Buy |
| Brainbees Solutions | ā¹364.20 | ā¹460 | 25% | Retail / E-commerce | Buy |
| Anant Raj | ā¹663 | ā¹844 | 23% | Real Estate / Realty | Buy |
| Eureka Forbes | ā¹537 | ā¹715 | 31% | Consumer Durables / Home Appliances | Buy |
| Astral | ā¹1,439 | ā¹1,600 | 13% | Pipes & Adhesives / Construction Materials | Buy |
HDFC Securities Stock Picks
Along with JM Financials, HDFC Securities has also released a list of 10 top stock picks with the belief of offering up to 27% returns over the next year, as follows:
| Company | Current Price | Target Price (Next Diwali) | Potential Upside | Sector | Recommendation |
| Bharti Airtel | ā¹1,967 | ā¹2,244 | 15% | Telecom | Buy |
| Happy Forgings | ā¹905 | ā¹1,083 | 18% | Auto Ancillaries / Forging | Buy |
| IDFC First Bank | ā¹72 | ā¹88.5 | 20% | Banking / Financial Services | Buy |
| JSW Energy | ā¹547 | ā¹639 | 17% | Power / Energy | Buy |
| Associated Alcohols & Breweries | ā¹1,050 | ā¹1,182 | 17% | Alcoholic Beverages / FMCG | Buy |
| Larsen & Toubro (L&T) | ā¹3,823 | ā¹4,243 | 12.5% | Infrastructure / Engineering | Buy |
| Pidilite Industries | ā¹1,500 | ā¹1,717 | 13.4% | Chemicals / Adhesives | Buy |
| Sheela Foam | ā¹670 | ā¹837 | 23.5% | Consumer Durables / Foam & Mattress | Buy |
| Northern Arc Capital | ā¹276 | ā¹333.5 | 23.5% | NBFC / Financial Services | Buy |
| MSTC | ā¹539 | ā¹673 | 25.4% | IT / E-procurement | Buy |
Religare Broking Stock Picks
Religare Broking has also disclosed its top 5 stock picks for Diwali 2025, focusing on sectors that are expected to grow in the next Samvat 2082. These stock picks are forecasted to deliver returns of up to 30%. Letās look at these stocks.
| Company | Current Price | Target Price | Potential Upside | Sector | Recommendation |
| Reliance Industries | ā¹1,374 | ā¹1,600 | 16.4% | Conglomerate / Energy & Telecom | Buy |
| HDFC Life Insurance | ā¹761 | ā¹870 | 17% | Insurance / Financial Services | Buy |
| Power Finance Corporation Ltd. | ā¹405 | ā¹502 | 26.6% | NBFC / Financial Services | Buy |
| M&M Financial Services | ā¹293.75 | ā¹327 | 14% | NBFC / Financial Services | Buy |
| Nuvoco Vistas Corp | ā¹402.75 | ā¹478 | 12.4% | Cement / Construction Materials | Buy |
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