Diwali Muhurat Trading 2026: After A Difficult Year, SBI Securities Bets On These 11 Stocks For Samvat 2083

SBI Securities has identified 11 stocks across sectors, including metals, hospitality, commodities, jewellery, power, engineering and automobiles, for investors to track over the next 12 months.

The recommendations come after a difficult Samvat 2082 for Indian equities. Heightened geopolitical uncertainty amid the US-Iran-Israel confrontation, concerns over corporate earnings, trade tariff threats, elevated crude oil prices, persistent foreign institutional investor (FII) outflows and rupee depreciation weighed on market sentiment.

The Nifty 50 declined around 10 per cent between October 7, 2025 and October 23, 2026. The broader market held up relatively better, with the Nifty Microcap 250 gaining around 2 per cent, while the Nifty Midcap 100 and Nifty Smallcap 250 fell 4.3 per cent and 3.9 per cent, respectively.

BSE Metals and Healthcare were among the few outperforming sectors, gaining 9.2 per cent and 6.6 per cent, respectively. FMCG, Realty, Oil and Gas, and IT were among the worst-performing sectors.

SBI Securities' 11 Muhurat Stock Picks For Samvat 2083

Here are the 11 stocks SBI Securities has recommended for Samvat 2083, along with its investment rationale and price targets.

1. Tata Steel

SBI Securities has picked Tata Steel for its integrated manufacturing operations and planned capacity expansion. The company has captive iron ore mines and meets around 20-25 per cent of its domestic coal requirement through its own mines, helping it manage input costs.

The brokerage expects Tata Steel's India capacity to rise from 27.4 million tonnes per annum (MTPA) in FY26 to 40 MTPA by FY31. It also expects higher domestic hot-rolled coil (HRC) and rebar prices to offset rising input costs and support operating margins.

2. Indian Hotels Company

The brokerage has identified Indian Hotels for its strong brand positioning and pricing power. The company operates brands such as Taj, SeleQtions, Vivanta and Ginger.

The brokerage noted that Indian Hotels' brands command a revenue per available room (RevPAR) premium of more than 60 per cent over the industry. Its Accelerate 2030 strategy targets a portfolio of over 700 hotels and consolidated revenue of Rs 15,000 crore by 2030.

Indian Hotels reported year-on-year growth of 21.7 per cent in revenue, 23.8 per cent in EBITDA and 19.4 per cent in profit after tax (PAT) in the second quarter of FY27. Following the performance, management raised its FY27 consolidated revenue growth guidance to 15-17 per cent from 12-14 per cent earlier.

3. Multi Commodity Exchange of India (MCX)

SBI Securities has a positive view on MCX due to its dominant position in India's commodity derivatives market, where it commands around 99 per cent market share.

The brokerage noted that the exchange's unique client codes increased from around 2.3 crore in March 2024 to 4.1 crore in June 2026. It expects rising retail participation and regulatory approval for non-cash-settled contracts for foreign portfolio investors (FPIs) to support growth.

MCX's shift to its in-house commodity derivatives platform has also improved operating leverage. Its EBITDA margin rose to around 72 per cent in FY26 from 60 per cent in FY25. SBI Securities expects margins to remain in the 72-75 per cent range.

4. Jyoti CNC Automation

The brokerage has selected Jyoti CNC Automation, a manufacturer of computer numerical control (CNC) machine tools, on the back of rising demand from aerospace, defence, automotive and general engineering industries.

The company's consolidated order book stood at Rs 4,848 crore at the end of the first quarter of FY27. Aerospace accounted for 38 per cent of the order book, providing visibility for future execution.

The brokerage also highlighted the company's Rs 450 crore capital expenditure plan to raise annual standalone manufacturing capacity from 6,000 to 16,000 machines. Management has retained its FY27 revenue growth guidance of 25-30 per cent and EBITDA margin target of around 25 per cent.

5. Sky Gold and Diamonds

Sky Gold and Diamonds, a B2B jewellery manufacturer, features in the list for its established relationships with major retailers such as Malabar Gold and Diamonds, Joyalukkas, Kalyan Jewellers, GRT Jewellers and Reliance Jewels.

Its products are sold through 2,000 retail outlets in India and more than 500 outlets overseas. The company's Vision 2030 plan targets revenue of Rs 18,000-19,000 crore, a profit after tax (PAT) margin of over 5.25 per cent and positive operating cash flow by FY30.

For FY27, Sky Gold has retained its revenue guidance of around Rs 8,100 crore. SBI Securities expects exports, value-added jewellery and advanced gold products to drive growth over the medium term.

6. Genus Power Infrastructures

Genus Power features in the list on the back of India's smart metering opportunity and its position as a major smart electricity meter manufacturer. The brokerage estimates that 31-32 crore electricity meters will need to be replaced with smart meters, with 8-9 crore meters expected to be tendered in FY27.

Genus Power has an annual manufacturing capacity of 1.8 crore meters and an order book of around Rs 24,020 crore, equivalent to 5.1 times its FY26 sales. The company aims to install at least one crore smart meters in FY27 and has guided for revenue of Rs 6,000-6,500 crore.

The brokerage also flagged the company's Rs 148.2 crore share buyback at Rs 312 per share through the tender route, which it expects could support the stock during volatile market conditions.

7. Power Mech Projects

Power Mech Projects, an infrastructure and engineering services company, has been selected for its order book strength and presence across civil infrastructure, operations and maintenance (O&M), and mine development and operations (MDO).

As of September 2026, its total order backlog, including MDO projects, stood at Rs 56,647 crore. The executable order book of Rs 16,229 crore provides around 30 months of revenue visibility.

Its coal mining projects include the Tasra and KBP mines. For FY27, management has guided for consolidated revenue of Rs 7,300 crore, implying year-on-year growth of around 20 per cent, with an EBITDA margin of 12.5 per cent.

8. Centum Electronics

Centum Electronics, an electronics system design and manufacturing company, has been selected for its presence in India's defence, space and aerospace programmes.

These sectors contributed around 50 per cent of its FY26 revenue. The company has supplied mission-critical electronic components for almost all Indian Space Research Organisation (ISRO) satellite programmes, including Chandrayaan and Mangalyaan.

SBI Securities also acknowledged its long-standing customer relationships and the growing localisation of defence manufacturing. The higher-margin Build-to-Specification (BTS) segment accounts for 52 per cent of its current order book. The brokerage expects this segment's share to rise, supporting profitability.

9. Stylam Industries

Export demand, improving margins and capacity expansion are the key factors behind SBI Securities' pick of Stylam Industries, a manufacturer of decorative and high-pressure laminates.

Exports accounted for more than 75 per cent of the company's revenue in the first quarter of FY27. Its consolidated EBITDA margin also improved to 21 per cent from 19 per cent in the year-ago quarter.

Stylam's new greenfield manufacturing facility at Manak Tabra in Panchkula, Haryana, is expected to add Rs 250-300 crore to revenue in FY27. At full capacity, the plant could generate annual revenue of Rs 600-700 crore in FY28 and FY29.

10. Sambhv Steel Tubes

Sambhv Steel Tubes, an integrated manufacturer of electric resistance welded (ERW) pipes and tubes, features in the list for its capacity expansion plans and focus on value-added products.

Under its Vision 2030 plan, the company aims to raise finished product capacity from 0.68 million tonnes to 2.03 million tonnes. This includes a greenfield project at Kesda, Chhattisgarh. The first phase of its stainless steel coils project is expected to be commissioned in the fourth quarter of FY27.

The company also plans to set up captive power plants to improve cost efficiency and reduce dependence on external power. Management expects revenue and EBITDA to grow 10-15 per cent in FY27.

11. Lumax Industries

Rising LED penetration and higher lighting content per vehicle are among the factors behind SBI Securities' pick of Lumax Industries, an automotive lighting manufacturer and Tier-1 supplier to nearly 90 per cent of major original equipment manufacturers (OEMs).

The company's order book stood at Rs 2,580 crore in the first half of FY27, with LED lighting accounting for 88 per cent of the pipeline. Its relationships with Maruti Suzuki, Mahindra and Mahindra, Honda and Tata Motors could support future order wins, the brokerage said.

Lumax's plans to localise electronic components are expected to improve margins by around 70-90 basis points. Management has also raised its FY27 revenue growth guidance to more than 25 per cent from over 20 per cent earlier.

SBI Securities' Outlook For Samvat 2083

SBI Securities expects Indian equities to recover gradually in Samvat 2083 after a 24-month consolidation phase. It sees crude oil prices falling below $90 per barrel as the main trigger for a recovery.

"During SAMVAT 2083, following a 24-month consolidation phase, we expect Indian equities to witness a gradual recovery, with the primary catalyst being a pullback in crude oil prices below $90/bbl," the brokerage said.

The brokerage expects double-digit earnings growth, a possible India-US trade deal, wider export markets and continued government reforms to support equities. A reversal in the global artificial intelligence (AI) trade could also redirect capital towards markets such as India.

Any relief in securities transaction tax (STT) and long-term capital gains (LTCG) tax could further lift market sentiment, it said.