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 | ₹16,249 | ₹19,000 | 16% | Auto | Buy |
| Fiem Industries | ₹1,966 | ₹2,400 | 22% | Automotive Components | Buy |
| Axis Bank | 1,167 | ₹1,330 | 12% | Banking / Financial Services | Buy |
| IIFL Finance | 505.25 | ₹600 | 22% | NBFC / Financial Services | Buy |
| L&T Finance | ₹271.10 | ₹300 | 12% | NBFC / Financial Services | Buy |
| Apollo Hospitals Enterprise | ₹7,817 | ₹9,000 | 17% | Healthcare / Hospitals | Buy |
| Lloyds Metals and Energy | ₹1,343 | ₹1,680 | 28% | Metals | Buy |
| Ratnamani Metals & Tubes | ₹2,305 | ₹2,900 | 25% | Metals & Pipes | Buy |
| Brainbees Solutions | ₹364.20 | ₹460 | 25% | Retail / E-commerce | Buy |
| Anant Raj | ₹663 | ₹844 | 23% | Real Estate / Realty | Buy |
| Eureka Forbes | ₹537 | ₹715 | 31% | Consumer Durables / Home Appliances | Buy |
| Astral | ₹1,439 | ₹1,600 | 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 | ₹1,967 | ₹2,244 | 15% | Telecom | Buy |
| Happy Forgings | ₹905 | ₹1,083 | 18% | Auto Ancillaries / Forging | Buy |
| IDFC First Bank | ₹72 | ₹88.5 | 20% | Banking / Financial Services | Buy |
| JSW Energy | ₹547 | ₹639 | 17% | Power / Energy | Buy |
| Associated Alcohols & Breweries | ₹1,050 | ₹1,182 | 17% | Alcoholic Beverages / FMCG | Buy |
| Larsen & Toubro (L&T) | ₹3,823 | ₹4,243 | 12.5% | Infrastructure / Engineering | Buy |
| Pidilite Industries | ₹1,500 | ₹1,717 | 13.4% | Chemicals / Adhesives | Buy |
| Sheela Foam | ₹670 | ₹837 | 23.5% | Consumer Durables / Foam & Mattress | Buy |
| Northern Arc Capital | ₹276 | ₹333.5 | 23.5% | NBFC / Financial Services | Buy |
| MSTC | ₹539 | ₹673 | 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%. Let’s look at these stocks.
| Company | Current Price | Target Price | Potential Upside | Sector | Recommendation |
| Reliance Industries | ₹1,374 | ₹1,600 | 16.4% | Conglomerate / Energy & Telecom | Buy |
| HDFC Life Insurance | ₹761 | ₹870 | 17% | Insurance / Financial Services | Buy |
| Power Finance Corporation Ltd. | ₹405 | ₹502 | 26.6% | NBFC / Financial Services | Buy |
| M&M Financial Services | ₹293.75 | ₹327 | 14% | NBFC / Financial Services | Buy |
| Nuvoco Vistas Corp | ₹402.75 | ₹478 | 12.4% | Cement / Construction Materials | Buy |
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