Diwali Muhurat Stock Picks 2026: Mirae Asset Sharekhan Bets On These 15 Large, Mid And Small-Cap Stocks For Samvat 2083

Diwali Muhurat Stock Picks 2026: The Indian equity market enters Samvat 2083 amid global uncertainties, elevated energy prices and concerns over inflation and interest rates. While these factors could limit the scope for a broad-based valuation re-rating, improving corporate earnings and resilient domestic economic growth offer reasons for optimism.

According to Mirae Asset Sharekhan's Diwali Muhurat Picks 2026 report, the coming year could be a stock-picker's market, with companies having strong fundamentals, earnings visibility and reasonable valuations better placed to deliver returns.

Its list of 15 stocks comprises five large-cap, five mid-cap and five small-cap companies. Here are the key fundamental factors supporting these picks.

Large-Cap Stocks

1. Bharti Airtel

Bharti Airtel is benefiting from higher data usage, customers shifting to premium plans and growing demand for postpaid services. Its India wireless average revenue per user (ARPU) rose 5.4 per cent year-on-year to Rs 264 in the June 2026 quarter.

The company added over one million postpaid users during the quarter, taking its combined 4G and 5G subscriber base to 301.8 million. Its Africa business also has room to grow, supported by rising smartphone use and increasing adoption of digital financial services. Sharekhan expects Airtel’s adjusted profit to rise from Rs 23,278 crore in FY26 to Rs 51,439 crore in FY28.

2. ICICI Bank

ICICI Bank's earnings are supported by strong credit growth, a healthy balance sheet and improving asset quality. Its advances grew 30 per cent year-on-year in Q2FY27, while deposits rose 27.1 per cent.

Net interest income increased 17.7 per cent, while profit after tax (PAT) rose 20.1 per cent to Rs 14,843 crore. Asset quality also improved, with gross and net non-performing assets (NPAs) at 1.20 per cent and 0.30 per cent, respectively. The bank's capital adequacy ratio stood at 16.68 per cent, giving it room to support further growth.

3. Larsen & Toubro

Larsen & Toubro's large order book provides strong visibility on future revenue. Its order book stood at Rs 8.54 lakh crore, up 15 per cent year-on-year, while order inflows grew 28 per cent to Rs 1.47 lakh crore.

The share of domestic private-sector projects in the order book also increased to 45 per cent from 30 per cent a year ago. The company's presence across infrastructure, power transmission, oil and gas and international markets gives it opportunities to secure orders from different sectors.

4. Titan Company

Titan's jewellery business and presence across different consumer segments are driving its growth. The company's consumer businesses grew around 25 per cent year-on-year in Q2FY27. It also added 78 stores during the quarter, taking its retail network to 3,758 outlets.

Its domestic jewellery business grew 21 per cent, with brands such as Tanishq, Mia, Zoya and CaratLane contributing to the growth. The shift towards premium jewellery, growing preference for organised players and expansion into more affordable jewellery categories could support the business further.

5. UltraTech Cement

UltraTech Cement is expanding its manufacturing capacity and gaining market share, supporting its growth prospects. Its domestic capacity stood at 205 million tonnes per annum (MTPA) in September 2026. The company plans to increase this to 240 MTPA by March 2028.

Grey cement volumes grew 13.8 per cent year-on-year in Q2FY27, compared with the industry's growth of 7-8 per cent. Its large manufacturing scale, flexible fuel mix and growing use of green power also help keep costs under control.

Mid-Cap Stocks

6. Indian Hotels Company

Indian Hotels Company (IHCL), which operates the Taj brand, is seeing steady growth on the back of strong travel demand and expansion of its hotel network. Its revenue rose 21.7 per cent year-on-year to Rs 2,484.32 crore in Q2FY27, while profit after tax (PAT) grew 19.4 per cent.

The company signed 47 hotel deals and opened 20 properties in H1FY27. Its portfolio now includes 390 operational hotels, with another 280 in the pipeline. The asset-light management fee business and expansion in international markets also offer room for growth.

7. Navin Fluorine International

Navin Fluorine's contract development and manufacturing organisation (CDMO) business is a key growth driver, with demand rising and the company building stronger relationships with international clients.

Its high-performance products segment is also seeing healthy demand, supported by capacity expansion. The specialty chemicals business is gaining ground with differentiated and patented products. Its advanced materials business could add to growth as more products move towards commercialisation.

8. Welspun Corp

Welspun Corp's growing international business and strong order pipeline provide visibility on future growth. The company secured its largest-ever US order worth Rs 17,200 crore, taking its global order book to a record Rs 42,100 crore.

Its US manufacturing capacity is fully booked through FY28. Planned capacity additions in the US and Saudi Arabia are expected to support higher volumes. The company also had a net cash position of Rs 2,336 crore, giving it financial flexibility to fund expansion.

9. Tata Consumer Products

Tata Consumer Products is benefiting from growth in its newer businesses, including Tata Sampann, Capital Foods, Organic India and ready-to-drink products.

These businesses grew 40 per cent year-on-year in H1FY27 and contributed 38 per cent of India revenues. Overall revenue increased 14 per cent in Q2FY27, supported by 11 per cent underlying volume growth in India. Improving international profitability and easing input cost pressures could support margins in the coming quarters.

10. Radico Khaitan

Radico Khaitan's premiumisation strategy and increasing demand for its vodka and premium whisky brands support its earnings prospects.

Magic Moments continues to lead its vodka portfolio, with volumes increasing 49 per cent year-on-year in Q2FY27. Gross margins expanded 440 basis points to 48 per cent, supported by a better product mix and timely grain procurement.

Its net debt declined to Rs 175 crore, with management expecting the company to become debt-free in H2FY27.

Small-Cap Stocks

11. Dee Development Engineers

Dee Development Engineers is benefiting from rising demand for specialised piping solutions across power, oil and gas and energy infrastructure projects.

Its order book stood at Rs 2,531 crore in September 2026, nearly twice its FY26 revenue. Demand from global original equipment manufacturers, including GE Vernova and Siemens, provides growth opportunities. An agreement with Siemens for gas turbine piping business could further strengthen its order pipeline.

12. Karnataka Bank

Karnataka Bank's ongoing operational transformation and improving asset quality support its growth outlook. Its total business reached a record Rs 1.97 lakh crore in June 2026.

The bank is strengthening its retail lending operations through credit hubs, digital initiatives and improved risk-based pricing. Its capital adequacy ratio stood at 21.1 per cent, while return on assets improved to 1.29 per cent in Q1FY27.

13. Lumax Auto Technologies

Lumax Auto Technologies is positioned to benefit from increasing content per vehicle and demand for advanced automotive components.

Its order book stood at Rs 1,879 crore, with nearly 85 per cent coming from new businesses. Its exposure to advanced plastics, mechatronics, structural and control systems and alternate-fuel technologies provides opportunities to diversify its revenue base.

14. Sagility

Sagility's healthcare-focused technology and business services operations offer exposure to growing demand from US healthcare payers.

The company expects low double-digit organic revenue growth in FY27 and has raised its adjusted EBITDA margin guidance to 25-26 per cent. Its acquisition of Chirok Health strengthens its revenue cycle management capabilities and creates opportunities for cross-selling. However, its dependence on a handful of large clients remains a factor investors should monitor.

15. VA Tech Wabag

VA Tech Wabag's strong order book and growing opportunities in water treatment and desalination make it an interesting infrastructure play.

Its order book reached approximately Rs 19,400 crore in Q1FY27, providing significant revenue visibility. The company also has opportunities in ultra-pure water solutions for semiconductor manufacturing, data centres, solar photovoltaic facilities and green hydrogen projects.

Its balance sheet remains healthy, with a net cash position of Rs 965 crore for the 14th consecutive quarter.

What Should Investors Watch In Samvat 2083

While these companies have identifiable business and earnings growth drivers, investors should not overlook the risks. Higher crude oil prices, geopolitical uncertainties, elevated interest rates and input cost inflation could affect corporate profitability.

Valuations also vary considerably across the 15 stocks. Therefore, investors should assess earnings visibility, balance-sheet strength, return ratios and valuations before making investment decisions.