Axis Securities Names 12 Stocks for Samvat 2083 With Up to 50% Upside Potential

Brokerage firm Axis Securities named 12 stocks for Samvat 2083 with target upside potential reaching up to 50%, recommending that market participants focus on strong business fundamentals and disciplined valuations as Indian equities transition into the new Hindu accounting year. The annual stock recommendations come as Dalal Street seeks recovery from a challenging 12-month stretch that saw benchmark indices give up double-digit gains.

In its festive investment report, Axis Direct emphasized that equity market returns between Diwali 2026 and Diwali 2027 will depend primarily on bottom-up stock selection rather than broad market momentum. When Axis Securities named 12 stocks for Samvat 2083, the brokerage constructed its list across major growth sectors, including banking, healthcare, hospitality, automobiles, metals, engineering, and technology.

Muhurat picks feature banking, auto and tech shares

The top picks selected by Axis Securities include DCB Bank, Eternal, Coforge, Nephrocare Health Services, Indian Hotels Company, Ashok Leyland, Hindalco Industries, APL Apollo Tubes, and Elecon Engineering. The brokerage highlighted these equity ideas as primary choices for the Muhurat trading window, with upside targets ranging up to 20% for core fundamental picks and up to 50% for technical setups over the course of Samvat 2083.

The selection reflects balanced sector representation across large-cap and mid-cap spaces. Commercial vehicle manufacturer Ashok Leyland and IT services provider Coforge head the industrial and technology preferences, while Indian Hotels Company represents the hospitality sector. Industrial tube maker APL Apollo Tubes, capital goods manufacturer Elecon Engineering, and non-ferrous metal major Hindalco Industries anchor the manufacturing and infrastructure basket. In financials and healthcare, Axis Securities highlighted DCB Bank alongside healthcare provider Nephrocare Health Services and Eternal.

Market drops 12% as oil and geopolitics weigh

Before Axis Securities named 12 stocks for Samvat 2083, market benchmarks had experienced prolonged pressure throughout the previous year. Since the last Diwali Muhurat trading session, the Sensex dropped over 10,750 points, while the Nifty 50 shed nearly 12% of its value. Market sentiment was dragged down by foreign institutional investor selling, geopolitical instability stemming from the Iran-US conflict, and elevated global crude oil prices that squeezed operating margins for domestic manufacturers.

To reverse this trend, Axis Direct identified eight macro developments that could turn institutional investors bullish again during Samvat 2083. Key triggers include stabilization in global crude oil prices, easing geopolitical tensions, potential interest rate cuts by global central banks, and a recovery in quarterly earnings growth for Indian corporates following softer figures earlier in 2026.

Brokerages target blue chips and earnings recovery

Other prominent domestic brokerages have also issued stock lists ahead of November trading. PL Capital’s Technical Research Desk recommended 10 stocks for Samvat 2083, highlighting companies such as Apollo Hospitals, real estate developer DLF, and steel manufacturer Jindal Steel. Mirae Asset Sharekhan introduced a broader portfolio of 15 large-cap, mid-cap, and small-cap stocks, citing growth prospects across banking, telecom, infrastructure, and consumer goods. Its list features Bharti Airtel, ICICI Bank, Larsen & Toubro, and DEE Development Engineers.

Arihant Capital released a buy list covering 12 large-cap stocks across banking, insurance, automobiles, consumer goods, cement, capital goods, and defense, estimating maximum upside potential of up to 49%. Investor sentiment received additional support as Reliance Industries reported record second-quarter earnings and revenue growth, driving its share price up by 6% to 8%. Following the quarterly results, Goldman Sachs projected further upside for Reliance Industries shares, setting a price target of ₹1,840 per share.

About The Author

Ananya Suresh

Ananya Suresh writes about movies, OTT releases, television, entertainment, celebrities and popular culture. She follows emerging trends and brings together the latest stories and developments from the entertainment world.

See author's posts