Diwali 2026: SBI Securities Picks Tata Steel, MCX and 9 Other Stocks For Muhurat Trading Session

The Indian stock market is currently navigating a turbulent phase characterised by macroeconomic pressures. Amid this turbulence, domestic equities are facing headwinds from escalating geopolitical tensions in the Middle East, elevated crude oil prices, and the threat of global trade tariffs.

Against this backdrop, investors are preparing for the new financial year with the upcoming Diwali Muhurat trading session. Scheduled for November 8, 2026, this session is particularly special as it breaks from tradition by being held in the afternoon, running from 2:20 PM to 3:30 PM IST. Ahead of the special trading session, SBI Securities has shared its stock picks for Samvat 2083:

Tata Steel

Shares of Tata Steel closed at Rs 182 apiece, up by 1.15 per cent on the NSE on November 5, 2026. The company has a market capitalisation of Rs 2,27,200.19 crore. SBI Securities has selected the stock because it believes the company is aggressively expanding its Indian operations, aiming to reach a capacity of 40 MTPA by FY31. Additionally, favorable domestic prices for hot rolled coil and rebar are expected to offset recent increases in input costs. 

The company operates as a geographically diversified producer with a fully integrated presence across the steel manufacturing value chain. According to the brokerage note, the firm meets a large portion of its raw material requirements through captive iron ore and coal mines, which helps protect operating margins.

Indian Hotels

Shares of Indian Hotels closed at Rs 875 apiece, up by 3.06 per cent on the NSE on November 5, 2026. The hospitality major has a market capitalisation of Rs 1,24,550.32 crore. The stock has been chosen by the financial services firm due to its premium pricing power, which allows it to command a significant industry premium in RevPAR. SBI Securities mentioned in the note that the company is targeting a portfolio of over 700 hotels and a massive increase in consolidated revenue through its Accelerate 2030 strategy. The company also recently reported robust performance driven by large corporate and government events, leading management to revise its revenue growth guidance upwards.

MCX

Shares of MCX closed at Rs 3,366 apiece, up by 1.54 per cent on the NSE on November 5, 2026. The exchange has a market capitalisation of Rs 85,830.26 crore. SBI Securities has selected the stock, citing its dominant market positioning.

According to the financial services firm, the exchange enjoys a near monopoly in the commodity derivatives segment. MCX also benefits from strong operating leverage after transitioning to an in-house commodity derivatives platform. It is also expected to benefit from structural tailwinds and global commodity volatility, which continues to drive sustained momentum in its average daily turnover.

Jyoti CNC

Shares of Jyoti CNC closed at Rs 1,026 apiece, down by 0.86 per cent on the NSE on November 5, 2026. The machine tool manufacturer holds a market capitalisation of Rs 23,247.19 crore. SBI Securities has selected the stock citing its volume driven revenue growth, which has contributions from the aerospace, auto, and general engineering sectors.

The company also has a robust order book that provides multi-quarter execution visibility. Its French subsidiary, Huron, is opening new growth avenues, and ongoing capacity expansions will support targeted future sales according to the brokerage.

Sky Gold and Diamonds

Shares of Sky Gold closed at Rs 944 apiece, up by 1.81 per cent on the NSE on November 5, 2026. The jewellery manufacturer has a market capitalisation of Rs 14,698.31 crore. The financial services firm has selected the jewellery maker because of its marquee B2B client base. The company supplies gold and diamonds to some of the largest jewellery retailers in India and the Middle East. 

Under its Vision 2030, the company is shifting toward internally generated capital to become net debt free. The company is also focused on key growth levers, such as improving its export mix and expanding into higher margin value added jewellery categories.

Genus Power Infrastructures

Shares of Genus Power closed at Rs 289.20 apiece, up by 0.70 per cent on the NSE on November 5, 2026. The smart metering company holds a market capitalisation of Rs 8,803.26 crore. SBI Securities selected the stock citing its comprehensive capabilities as an end to end smart energy measurement solutions provider. The company is positioned to capitalise on a domestic smart metering opportunity, while selectively expanding into international markets. Backed by a robust order book, the financial services firm expects significant improvements in its working capital cycle.

Power Mech Projects

Shares of Power Mech Proj closed at Rs 2,271.20 apiece, up by 1.06 per cent on the NSE on November 5, 2026. The infrastructure construction firm has a market capitalisation of Rs 7,183.85 crore. The stock has been selected by SBI Securities due to its strong growth across multiple segments, particularly in civil infrastructure and operations and maintenance. The company holds a massive executable order book that provides a 30-month revenue visibility. 

Further, its mine development and operations business is scaling up and is expected to generate healthy long term margins according to the brokerage note.

Centum Electronics

Shares of Centum Electronics closed at Rs 4,103.10 apiece, down by 3.58 per cent on the NSE on November 5, 2026. The electronics manufacturing services provider holds a market capitalisation of Rs 6,060.55 crore. 

SBI Securities has selected the stock citing its strong presence across India’s space and defence programs. The company also serves as a critical supplier for ISRO and DRDO missions. The brokerage believes a strategic shift toward the higher margin build to specification segment is expected to drive future profitability for the company.

Stylam Industries

Shares of Stylam Inds closed at Rs 3,090 apiece, up by 3.66 per cent on the NSE on November 5, 2026. The building materials company has a market capitalisation of Rs 5,242.54 crore. 

SBI Securities has selected the stock citing its sustained growth and margin expansion, supported by improved capacity utilisation and operational efficiencies. According to the brokerage note, the company is executing plans, including a greenfield facility featuring the industry’s largest capacity press. According to the note, the overall industry outlook remains positive due to strong export and domestic demand for building materials.

Sambhv Steel Tubes

Shares of Sambhv Steel closed at Rs 167 apiece, up by 0.78 per cent on the NSE on November 5, 2026. The steel tube manufacturer has a market capitalisation of Rs 4,964.33 crore. The stock has been selected for its product capacity. The company is also planning to undertake both brownfield and greenfield expansions. The steel tube maker is also pursuing cost optimisation by setting up captive power plants and solar infrastructure. 

Lumax Industries

Shares of Lumax Industries closed at Rs 5,401 apiece, up by 2.02 per cent on the NSE on November 5, 2026. The automotive lighting manufacturer holds a market capitalisation of Rs 5,086.66 crore. The stock has been selected by the brokerage for its increasing LED order book, which is driving higher content per vehicle, as automakers shift toward technology driven solutions. 

According to the brokerage note, the company maintains strong, long standing relationships with major OEMs and expects substantial wallet share gains.