The Samvat 2075 has been a volatile year as concerns over a slowing economy, weak earnings growth and global trade war dented sentiment.
Though the benchmark Nifty held out against the headwinds after the index, led by polarisation, bounced back on surprise corporate tax rate cuts, the correction in the broader market was quite severe. The 50-stock gauge rose 10 percent so far in Samvat 2075 and trades at a 16 percent premium to its 10-year average. The Nifty Midcap and Smallcap indices, on the other hand, dropped nearly 8 percent and 12 percent, respectively, during the period.
Still, analysts remain optimistic for the next Samvat 2076 as they expect the measures announced by the government, including the rollback of surcharge for foreign investors and corporate tax rate cut, to enthuse investors.
Selection Criteria
- Top two stocks, based on highest 12-month return potential, recommended by 10 brokerages.
Here's a list of top Diwali stock picks by brokerages...
Angel Broking On Shriram Transport, RBL Bank
Axis Securities On Lumax Industries, Rites
JM Financial On UPL, Larsen & Toubro
HDFC Securities On Sudarshan Chemicals, Amber Enterprises
IDBI Capital On Tata Elxsi, Reliance Nippon Life Asset Management
ICICI Direct On Axis Bank, United Breweries
IIFL Securities On Deepak Nitrite, L&T
IndiaNivesh On LIC Housing Finance, JK Paper
SBI Cap On Maruti Suzuki, RNAM
Motilal Oswal On L&T, State Bank Of India
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