Multibagger Diwali stock picks: Amid celebrations of Diwali 2022, stock market investors would be eagerly waiting for Muhurat trading session, which is scheduled today from 6:15 PM to 7:15 PM. Muhurat trade is considered auspicious among the investors as it marks beginning of new Samvat as well. So, fresh investments are done with the arrival of new Samvat with whopping return expectations.
Anuj Gupta, Vice President — Research at IIFL Securities believes that a good number of stocks have given strong results and they are expected to continue giving positive quarterly numbers. Apart from this, some stocks are forming strong chart formation as well. The IIFL Securities expert recommended 5 stocks that may emerge as one of the multibagger stocks in next one year. Those 5 potential multibagger stocks are Federal Bank, Renuka Sugars, Coal India, DLF and Indian Hotels Company.
Here we list out detail reasons being given by Anuj Gupta on these possible multibagger stocks:
1] Federal Bank: The banking stock has formed higher top higher bottom formation and the south Indian bank has given strong Q2 results in current financial year. Positional investors can buy the stock during Muhurat trading today for next Diwali target of ₹230 apiece levels. He advised investors to keep on accumulating on every big dip from current levels.
2] Renuka Sugar: The IIFL Securities expert believes that demand for ethanol and higher export of sugar may support the sugar stocks. He said that shares of Renuka Sugars is looking strong on chart pattern and it is following trend line as well. He advised positional investors to buy Renuka Sugar stock during Muhurat trading session today for one year target of ₹120 apiece levels.
3] Coal India Ltd or CIL: Anuj Gupta of IIFL Securities said that Coal India is a dividend paying stock and the PSU company is debt-free as well. The stock is following triangle formation on chart pattern, which signals strong uptrend in the scrip. Anuj Gupta said that it may go up to ₹500 apiece levels from current market price of ₹238 apiece levels.
4] DLF: Rising demand for luxury real estate is supporting the scrip as the real estate company has delivered strong quarterly numbers. One can buy the stock at current levels for one year target of ₹600 and keep on accumulating till it is above ₹265 levels, said Anuj Gupta.
5] Indian Hotels Company: On rising demand after Covid, the Tata group hotel is expected to show improvement on margins and other important aspects of balance sheet. The stock is expected to continue its bullish trend as it is forming 'higher top higher bottom' on chart. One can buy the stock at current levels during Muhurat trading today for one year target of ₹500 and keep on accumulating till is is above ₹255 apiece levels.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
