Motilal Oswal Investment Management has picked 10 stocks as its Diwali picks for Samvat 2082, offering up to 36 percent upside potential. The firm believes the second half of FY26 will mark a shift from the current low single-digit earnings growth to a sustainable double-digit growth phase, supported by improving market conditions and stronger corporate performance.
Here are ten stocks that Motilal Oswal has given an upside potential of up to 36 percent as Diwali Picks
State Bank of India
With a market capitalization of Rs. 8,17,417.34 crore, the shares of State Bank of India were currently trading at Rs. 885.55 per equity share, down nearly 0.15 percent from its previous day’s close price of Rs. 886.90.
Motilal Oswal has recommended a “Buy” call on State Bank of India with a target price of Rs. 1,000 per share, indicating an upside potential of 12.92 percent from its current price.
State Bank of India was established in 1806 as the Bank of Calcutta and is India’s largest public sector bank offering a wide range of banking and financial services to millions of customers across India and overseas with a strong rural and urban presence.
Mahindra & Mahindra Limited
With a market capitalization of Rs. 4,51,624.80 crore, the shares of Mahindra & Mahindra Limited were currently trading at Rs. 3,631.80 per equity share, up nearly 1.99 percent from its previous day’s close price of Rs. 3,561.05.
Motilal Oswal has recommended a “Buy” call on Mahindra & Mahindra Limited with a target price of Rs. 4,091 per share, indicating an upside potential of 14.88 percent from its previous day’s close price of Rs. 3,561.05.
Mahindra & Mahindra Limited founded in 1945 is a leading Indian multinational known for manufacturing automobiles, tractors, and utility vehicles, with a strong presence in farm equipment, IT, finance, and renewable energy sectors, catering to global markets.
Bharat Electronics Limited
With a market capitalization of Rs. 3,03,611.66 crore, the shares of Bharat Electronics Limited were currently trading at Rs. 415.35 per equity share, up nearly 0.89 percent from its previous day’s close price of Rs. 411.70.
Motilal Oswal has recommended a “Buy” call on Bharat Electronics Limited with a target price of Rs. 490 per share, indicating an upside potential of 19.02 percent from its previous day’s close price of Rs. 411.70.
Bharat Electronics Limited was founded in 1954 and is an Indian state-owned aerospace and defence electronics company developing and manufacturing advanced electronic products mainly for defence, space, and civilian applications, supporting national security and strategic sectors.
Swiggy Limited
With a market capitalization of Rs. 1,06,478.72 crore, the shares of Swiggy Limited were currently trading at Rs. 425.20 per equity share, down nearly 4.97 percent from its previous day’s close price of Rs. 449.35.
Motilal Oswal has recommended a “Buy” call on Swiggy Limited with a target price of Rs. 550 per share, indicating an upside potential of 29.35 percent from its current price.
Swiggy Limited was founded in 2014 in Bengaluru and is India’s largest online food ordering and delivery platform, offering quick commerce services across more than 580 cities and expanding into grocery and instant product deliveries via Instamart.
Indian Hotels Company Limited
With a market capitalization of Rs. 1,04,963.89 crore, the shares of Indian Hotels Company Limited were currently trading at Rs. 737.40 per equity share, down nearly 0.06 percent from its previous day’s close price of Rs. 737.85.
Motilal Oswal has recommended a “Buy” call on Indian Hotels Company Limited with a target price of Rs. 880 per share, indicating an upside potential of 19.34 percent from its current price.
Indian Hotels Company Limited was established in 1902, and is India’s premier hospitality company operating luxury and upscale hotels across India and internationally under iconic brands like Taj, Vivanta, and Ginger.
Max Financial Services Limited
With a market capitalization of Rs. 53,473.81 crore, the shares of Max Financial Services Limited were currently trading at Rs. 1,549.45 per equity share, down nearly 0.12 percent from its previous day’s close price of Rs. 1,551.25.
Motilal Oswal has recommended a “Buy” call on Max Financial Services Limited with a target price of Rs. 2,000 per share, indicating an upside potential of 29.08 percent from its current price.
Max Financial Services Limited was established in 1988 and is a leading Indian financial services company holding a majority stake in Max Life Insurance, providing life insurance products and services with a wide national distribution network.
Radico Khaitan Limited
With a market capitalization of Rs. 41,326.66 crore, the shares of Radico Khaitan Limited were currently trading at Rs. 3,086.90 per equity share, up nearly 2.98 percent from its previous day’s close price of Rs. 2,997.70.
Motilal Oswal has recommended a “Buy” call on Radico Khaitan Limited with a target price of Rs. 3,375 per share, indicating an upside potential of 12.59 percent from its previous day’s close price of Rs. 2,997.70.
Radico Khaitan Limited was founded in 1943 and is a major Indian distilled spirits company producing, marketing, and exporting popular alcoholic brands such as 8 PM Whisky and Magic Moments Vodka with a strong domestic and international presence.
Delhivery Limited
With a market capitalization of Rs. 34,530.40 crore, the shares of Delhivery Limited were currently trading at Rs. 461.85 per equity share, up nearly 3.40 percent from its previous day’s close price of Rs. 446.65.
Motilal Oswal has recommended a “Buy” call on Delhivery Limited with a target price of Rs. 540 per share, indicating an upside potential of 20.90 percent from its previous day’s close price of Rs. 446.65.
Delhivery Limited was founded in 2011 and is a leading Indian logistics and supply chain services company specializing in parcel transportation, warehousing, and last-mile delivery solutions across India’s e-commerce and retail sectors.
L T Foods Limited
With a market capitalization of Rs. 14,351.96 crore, the shares of L T Foods Limited were currently trading at Rs. 412 per equity share, down nearly 0.46 percent from its previous day’s close price of Rs. 413.90.
Motilal Oswal has recommended a “Buy” call on L T Foods Limited with a target price of Rs. 560 per share, indicating an upside potential of 35.92 percent from its current price.
L T Foods Limited was incorporated on October 16, 1990, and is a food company specialising in branded rice products such as Daawat, offering premium and organic rice varieties and other speciality food ingredients across India and global markets
V I P Industries Limited
With a market capitalization of Rs. 6,094.43 crore, the shares of V I P Industries Limited were currently trading at Rs. 429.05 per equity share, up nearly 0.12 percent from its previous day’s close price of Rs. 428.55.
Motilal Oswal has recommended a “Buy” call on V I P Industries Limited with a target price of Rs. 530 per share, indicating an upside potential of 23.67 percent from its previous day’s close price of Rs. 428.55.
V I P Industries Limited was founded in 1971 and is India’s largest luggage manufacturer, offering a wide array of travel and lifestyle products, including suitcases, backpacks, and accessories under VIP and Carlton brands, with global exports.
Written By – Nikhil Naik
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