Muhurat Trading 2025: Know ICICI Securities Top Stock Picks For This Diwali

Diwali Muhurat Trading: The festive season is much-awaited across India. Stock market investors also look forward to the festive occasions of Diwali and Dhanteras to welcome prosperity into their homes. Seasoned investors and new investors alike, await the ‘Muhurat’ trading session which is held on the evening of Diwali. The Muhurat trading session has a deep-rooted cultural significance among investors. In 2025, the Muhurat trading session will be held on the evening of October 21, 2025.

Ahead of the Muhurat Trading session, here’s a look at eight stock picks by Pankaj Pandey, Head of Research at ICICI Securities Ltd, for the auspicious occasion and why investors can consider investing in them:

HDFC Bank

ICICI Securities has picked HDFC Bank as a suitable bet for the upcoming Muhurat Trading session. The brokerage has selected the private sector bank on the basis of its consistent growth and operational performance over various cycles. ICICI Securities highlighted that the private sector lender’s stock is a good buy following its merger, which has helped it in becoming the second largest bank in terms of size with diversified portfolio mix.

The brokerage firm has also expressed optimism regarding the future financial performance of the bank, driven by tailwinds such as strong traction in urban retail and unsecured lending, improving rural demand supported by a favourable monsoon and buoyant MSME activity, along with a pickup in discretionary spending. However, the brokerage also highlighted key risks such as slower-than-expected credit growth and the chances of potential pressures on account of future rate cuts in subsequent quarters.

On October 14, HDFC Bank share price slipped 1 per cent to trade at an intraday low of Rs 967 apiece on the NSE. At the time of writing, HDFC Bank shares traded at Rs 974.75 down by 0.23 per cent.

Credit Access Grameen Ltd

ICICI Securities has given a ‘BUY’ call on Credit Access Grameen shares for the Muhurat Trading Session. The brokerage mentioned in its note that Credit Access Grameen is one of the largest microfinance companies in India with an AuM (assets under management) of Rs 26,055 crore.

The brokerage added that the microfinance company’s asset quality is stabilising, and AUM growth is likely to revive in H2FY26. However, the brokerage cited key concerns regarding the stock, such as a recent moderation in AuM and the likely impact of a delayed regional revival.

Shares of Credit Access Grameen slumped over 2 per cent to trade at an intraday low of Rs 1369.9 apiece on the NSE. At the time of writing, the stock traded at Rs 1,370.8, down by 2.63 per cent.

Larsen & Toubro

Larsen & Toubro (L&T) is India’s largest engineering & construction (E&C) company, operating across segments such as infrastructure, heavy engineering, defence engineering, power, hydrocarbon, and services business segments. The brokerage firm remained bullish on the engineering company’s stock and mentioned that the company is expected to benefit from bagging several large orders in Q2FY26, as well across segments.

ICICI Securities stated that L&T is likely to surpass its order inflow guidance of 10 per cent on a larger base in FY26E. The brokerage also estimates a double digit top-line and bottom-line growth for the company at 14.9 per cent and 16.5 per cent respectively over FY25-FY27E. The brokerage also advised investors to remain mindful of risks such as delays in order execution and lower than expected improvement in return ratios.

Larsen & Toubro shares dipped 0.54 per cent to an intraday low of Rs 3748.8 apiece on the NSE. At the time of writing, shares of L&T traded at Rs 3,752, down by 0.46 per cent.

AIA Engineering

AIA Engineering (AIA) manufactures high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills). The brokerage has given a BUY rating on AIA Engineering shares for the Muhurat trading session.

The brokerage mentioned that the company is set to benefit from its strategic decision to set up manufacturing facilities in China and Ghana after facing several recent headwinds such as geopolitical uncertainty, anti-competitive measures in Brazil, the USA and South Africa. The brokerage projected that the castings manufacturer will be able to achieve high single-digit revenue/ EBITDA and profit growth at 7.3 per cent, 7.3 per cent and 9.2 per cent CAGR, respectively, over FY25-27E. However, the brokerage advised investors to be aware of key risks such as delays in conversion to High chrome grinding media and a surge in input costs and freight costs.

AIA Engineering shares slipped over 1 per cent to trade at an intraday low of Rs 3186 apiece on the NSE. At the time of writing, shares of AIA Engineering traded lower by 0.58 per cent at Rs 3,214.2 apiece.

Allied Blenders & Distillers Ltd

ICICI Securities has given a BUY call on shares of Allied Blenders & Distillers Ltd (ABDL). The brokerage stated that a large shift to premium liquor products, the launch of new products and expansion into newer markets are expected to help the company. The brokerage said that expansion in the gross margins is expected to directly flow into EBIDTA over the next three years. The brokerage also expects the company’s revenues and PAT to grow at a CAGR of 14 per cent and 36 per cent, respectively, over FY25-28E. However, the brokerage cited risks such as a delay in payment of dues from the Telangana government and any significant increase in the excise duty.

Shares of Allied Blenders and Distillers Ltd surged over 1 per cent to an intraday high of Rs 537.75 apiece on the NSE. At the time of writing, Allied Blenders and Distillers shares traded at Rs 529.1 apiece, up by 0.14 per cent.

Kaynes Technology

Kaynes Technology India Ltd (Kaynes) is a manufacturer of electronic circuit boards and other components. Kaynes Technology India Ltd. ICICI Securities is bullish on the stock as a Muhurat trading pick. The brokerage has cited several tailwinds for the company, such as strong financial performance in recent times. The brokerage said that the electronics manufacturer’s revenue has grown at a CAGR of 56.8 per cent over FY22-25 and is poised for a 48.1 per cent CAGR over FY25-28E. However, the brokerage urged investors to be mindful of execution delays in new ventures and potential restraints in government support.

Kaynes Technology shares surged 3 per cent to an intraday high of Rs 7043 apiece on the NSE. At the time of writing, shares of Kaynes Technology Ltd traded at Rs 6,894.5 up by 0.82 per cent on the NSE.

Data Patterns

ICICI Securities has picked Data Patterns as one of its picks ahead of the Muhurat trading window. The brokerage cited a healthy order backlog, providing medium-term revenue visibility to the company, as one of the reasons for its buy call.

The brokerage added that with the increasing requirement of hi-tech and modernised defence platforms, the company has huge long-term potential in terms of continuous order inflows for electronic systems/sub-systems, from both domestic and export markets. However, the brokerage also cited key risks such as dependence on government contracts and high working capital requirements.

Data Patterns Ltd shares gained nearly 2 per cent to trade at an intraday high of Rs 2766.4 apiece on the NSE. At the time of writing, shares of Data Patterns Ltd traded at Rs 2,752.1 apiece on the NSE, up by 1.27 per cent.

Greenlam Industries

Greenlam Industries manufactures laminates and holds 17.8 per cent market share in India’s organised laminate market and 29 per cent share in laminate exports. ICICI Securities mentioned in its brokerage note that the stock has expanded its addressable market (largely plywood led) to Rs 49,000 crore vs. Rs 11,000 crore in FY22 by undertaking greenfield expansions of certain verticals.

The company expects its overall revenues to reach Rs 4,500 crore in 3-4 years. The company also cited key risks such as the impact of geopolitical uncertainties on the company’s business and a slower-than-expected ramp-up in new segments.

Shares of Greenlam Industries surged over 2 per cent to an intraday high of Rs 260.01 apiece on the NSE. At the time of writing, shares of Greenlam Industries traded at Rs 257.26 apiece up by 1.81 per cent.