As the festive glow of Diwali spreads across India, the stock market too is lighting up with optimism. Every year, brokerage houses unveil their “Samvat Picks,” highlighting companies that they believe could outperform in the coming financial year. For Diwali 2025, several top firms have released their recommendations, and some of these stocks are showing potential upside of as much as 28%.
This year’s list includes a healthy mix of banks, FMCG players, automakers, and infrastructure giants. Let’s take a closer look at which companies are expected to shine the brightest and why analysts are so bullish on them.
HDFC Bank: A steady performer in recovery mode
Analysts believe HDFC Bank is regaining its balance after the merger phase. ICICI Securities has set a target price of ₹1,150, indicating around 14% upside. The bank has stabilized its credit-to-deposit ratio near 87% and continues to maintain strong retail loan growth. With a focus on digital expansion and improved margins, HDFC Bank remains a long-term favorite.
A senior market analyst remarked, “HDFC Bank’s scale, leadership in digital lending, and consistent profit margins make it a reliable bet for conservative investors.”
ITC: FMCG leader with 28% potential gain
ITC has been the talk of the town, with experts predicting up to 28% upside. The stock is backed by strong growth in its FMCG segment, better cost management, and expanding paper and hotel businesses. Brokerages like Motilal Oswal see the stock reaching ₹530 in the next year.
The company’s diversified structure provides stability even in volatile market conditions. Investors who have held ITC for years might finally see its full potential play out during this festive cycle.
Apollo Hospitals: Expanding healthcare empire
Healthcare demand is on a steady rise in India, and Apollo Hospitals continues to ride this wave. SBI Securities has projected a price target of ₹8,675, implying nearly 8% upside. The company plans to add almost 2,000 new beds by FY27, which could significantly boost revenue and profitability.
The report notes that Apollo’s focus on digital health, insurance partnerships, and preventive care models could redefine the private healthcare landscape in India.
Kotak Mahindra Bank: Restructuring for growth
After a period of leadership transition and restructuring, Kotak Mahindra Bank is emerging stronger. Analysts have set a target price of ₹2,500, offering about 14% potential gain. The bank’s loan growth is expected to improve by 16–18% annually over the next two years.
Kotak’s strong capital base and conservative lending approach make it one of the safer bets for those seeking balance between growth and stability.
Mahindra & Mahindra: Driving into the EV future
Automaker Mahindra & Mahindra (M&M) continues to impress with its strong foothold in SUVs and electric mobility. Motilal Oswal estimates the stock could rise to ₹4,091, reflecting a 13% upside.
With new EV models, improved export volumes, and aggressive R&D in green tech, M&M stands positioned to benefit from India’s automotive transformation.
State Bank of India: The government-backed giant
SBI remains a cornerstone of India’s financial sector. The brokerage target stands at ₹1,000, implying 10% growth potential. The lender’s digital push, focus on MSME loans, and strong deposit base are key positives.
Experts believe SBI could continue delivering steady returns as India’s credit growth and infrastructure funding pick up in FY26.
Bharat Electronics (BEL): Powering India’s defense sector
In defense and electronics, BEL remains the top pick. Analysts see around 17% upside, driven by a robust order book and increasing government contracts. The company is also venturing into radar and satellite communication systems.
BEL’s strong balance sheet, consistent dividend policy, and focus on indigenous defense manufacturing make it a smart long-term addition.
Bharti Airtel: Riding the digital wave
Telecom leader Bharti Airtel continues to show strong momentum, with HDFC Securities projecting 10% upside. The company’s investments in 5G rollout, data centers, and cybersecurity services are expanding its revenue streams.
A market observer noted, “Airtel is no longer just a telecom company—it’s evolving into a digital ecosystem provider. That diversification could be a game changer.”
Larsen & Toubro (L&T): Infrastructure powerhouse
Infrastructure is the backbone of India’s growth story, and L&T remains the most trusted name in this sector. With a target price of ₹4,243, the expected gain is around 9%. Analysts are upbeat about its exposure to energy, defense, and heavy engineering projects, all aligned with India’s infrastructure push.
L&T’s consistent order inflows and execution efficiency continue to make it a market favorite during Samvat 2082.
Market outlook and investor caution
Brokerages are optimistic about the coming year, driven by strong domestic demand, easing inflation, and government spending on infrastructure. However, investors must stay cautious. External risks like global interest rate changes, oil price fluctuations, and geopolitical tensions can influence returns.
While the potential for 28% upside sounds attractive, experts recommend staggered investing rather than lump-sum entry. The golden rule remains the same: stay diversified, stay patient, and don’t chase short-term hype.
Final thoughts
This Diwali, the markets are glowing with opportunity. From banking and FMCG to defense and infrastructure, investors have multiple strong options on the table. The festive season often marks new beginnings in portfolios, and Samvat 2082 could be one of those rare phases where steady planning meets golden timing.
Invest smartly, stay updated, and remember—the brightest fireworks in the market come from patience and discipline, not impulse.