Diwali (2023): On Sunday, November 12, the stock exchanges BSE and NSE will hold a special one-hour trading session called “Muhurat” to commemorate the start of a new Hindu calendar year called Samvat 2080, which begins on Diwali. It is commonly held that trading at the “Muhurat,” or auspicious hour, benefits investors by bringing wealth and financial growth.
In Samvat 2079, Indian equities outperform international markets, and in Samvat 2080, the outperformance is anticipated to persist. On Sunday, November 12, the stock exchanges BSE and NSE will hold a special one-hour trading session called “Muhurat” to commemorate the start of a new Hindu calendar year called Samvat 2080, which begins on Diwali. It is commonly held that trading at the “Muhurat,” or auspicious hour, benefits investors by bringing wealth and financial growth.
Business Today Markets (online) has questioned analysts from a few brokerages regarding their top picks for Nifty stocks over the course of a year in advance of the session. According to Satish Menon, Executive Director at Geojit Financial Services, Reliance Industries Ltd. (RIL) and HDFC Bank Ltd. are going to get in the medium- to long-term in response to the survey’s queries.
Menon stated that RIL’s operating performance has been negatively impacted by rising capital spending and the volatility of crude prices. Jio Platforms Ltd.’s expanding subscriber base, data traffic, cost-effectiveness, nationwide 5G services, JioAirFiber, and rising gas production are the cornerstones of RIL’s promising medium- to long-term prospects. Furthermore, the business’s inorganic and organic growth strategy is unwavering. Despite flat revenues, the most recent quarter showed impressive margin growth, indicating a positive medium-term trend driven by a moderation in crude prices. He recommended setting a target price on the RIL counter of Rs 2,641 in one year.
Speaking about HDFC Bank shares, the market analyst stated, “We believe the net interest margin has reached its decreased point and that a gradual recovery is likely to occur in the near future.” The medium- to long-term profits of the merger with HDFC are probably high. At this point, the valuation is more important; he set a target for HDFC Bank stock at Rs 1,964.
In response to BT’s query about the best stocks to buy, Nikhil Kapoor, Senior VP-Research at JM Financial Services Ltd., suggested RIL as well. We anticipate that Reliance’s consumer-focused business will have a more favorable long-term growth trajectory as a result of a cyclical upturn in the energy sector. RIL’s profit margins are higher when compared to its competitors. With a target price of Rs 2,900 for the upcoming year, Kapoor said, “We identify unique hedging opportunities within the O2C business, driven by its diversified feedstock sources and intricate asset portfolio.”
Larsen & Toubro Ltd. (L&T) was the other stock that JM Financial’s Kapoor included in his long-term selections. We think L&T is in a good position to gain from the ongoing momentum in government-funded domestic infrastructure projects, as well as from orders coming in from the Middle East; a possible sale or financing of non-core power, road, and metro projects, which would improve balance sheet/return ratios; and a pick-up in private capital expenditures, helped by the government’s push on manufacturing (PLIs + policy). L&T gains from heightened attention to infrastructure; UPL demonstrates tenacity in the agricultural industry; and HDFC/Kotak Bank stands for sound financial standing. According to Jain, these decisions offer a diversified outlook by balancing the strengths of each sector.