- PL Capital recommends 10 stocks for Diwali 2026 with up to 47% potential upside
- Top picks include Apollo Hospitals, DLF, GE Vernova, Shilpa Medicare, and Syrma SGS
- Shilpa Medicare leads with target Rs 1,230-1,335 vs CMP Rs 907, a 47% gain potential
Domestic brokerage PL Capital has suggested 10 stocks to buy for its Diwali Picks 2026, ranging from hospitals, real estate, power equipment, engineering, steel, marine electricals, pharmaceuticals, to technology.
The brokerage has identified potential upside of up to 47% from current market prices (CMP), based on its target ranges. Its top bets include Apollo Hospitals, DLF, GE Vernova T&D India, HBL Engineering, Jindal Steel, Marine Electricals, Shilpa Medicare, Syrma SGS Technology, TARIL and TD Power Systems.
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Shilpa Medicare tops the list, with a target price range of Rs 1,230-1,335 against its CMP of Rs 907, indicating an upside of up to 47%. DLF closely follows with a target range of Rs 860-960 against a CMP of Rs 670, suggesting potential upside of 43%.
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Syrma SGS Technology has a target range of Rs 1,970-2,120 against a CMP of Rs 1,525, implying upside of up to 39%. HBL Engineering has a target of Rs 1,000-1,080, indicating potential upside of 38% from its CMP of Rs 780.
GE Vernova T&D India has a target range of Rs 5,100-5,450 against a CMP of Rs 3,970, while TARIL has a target of Rs 385-440 against a CMP of Rs 315. Both stocks offer potential upside of around 37-40%.
Marine Electricals has a target range of Rs 520-560 against a CMP of Rs 414, while TD Power Systems has a target of Rs 870-940 against a CMP of Rs 705. Apollo Hospitals and Jindal Steel have target ranges of Rs 9,800-10,400 and Rs 1,290-1,360, respectively.
PL Capital has pointed to improving chart patterns and positive RSI signals as main reasons for the buy recommendations on these stocks.
PL Capital's Diwali Stock Picks: Target Prices And Stop Losses
PL Capital has recommended a stop loss of Rs 7,000 for Apollo Hospitals, Rs 570 for DLF, Rs 3,400 for GE Vernova T&D India and Rs 670 for HBL Engineering.
For Jindal Steel, the brokerage has set a stop loss of Rs 900, while the levels for Marine Electricals and Shilpa Medicare stand at Rs 355 and Rs 765, respectively.
The recommended stop loss for Syrma SGS Technology is Rs 1,290, while TARIL and TD Power Systems have stop-loss levels of Rs 260 and Rs 580, respectively.
Why PL Capital Is Betting On These Stocks?
Apollo Hospitals has shown signs of bottoming out near the Rs 7,500 level after a correction from Rs 9,050. The brokerage said the stock's RSI has moved closer to the oversold zone, indicating a possible trend reversal.
DLF has been consolidating while holding above its weekly 200-day exponential moving average (EMA) near Rs 623. Its daily chart has also formed a higher bottom pattern, along with a volume-backed positive candle formation.
GE Vernova T&D India has recovered from its recent low near Rs 3,550, with volume participation improving the technical outlook. HBL Engineering has seen a revival from the Rs 650 zone and is sustaining above the confluence of its 50-day EMA and 200-period moving average near Rs 750.
Jindal Steel has found support near Rs 1,000, forming a triple-bottom pattern on the daily chart. Marine Electricals has maintained its uptrend after a breakout above Rs 300 and is trading above its 50-day EMA near Rs 405.
Shilpa Medicare has sustained its broader uptrend over the past seven to eight months, with the recent correction finding support near Rs 820. Syrma SGS Technology has also maintained a series of higher lows, with support emerging near Rs 1,390.
TARIL has recovered from the Rs 265 support zone and is holding near the confluence of its 50-day EMA and 200-period moving average around Rs 300. TD Power Systems, meanwhile, has resumed its uptrend after finding support near Rs 620 and moving above the Rs 680 resistance level.
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