Motilal Oswal Financial Services has released its comprehensive Diwali 2026 stock picks for Samvat 2083, identifying 10 stocks across multiple sectors with target prices indicating potential upside ranging from 8% to 41%. According to the latest Muhurat Diwali Picks report, the brokerage has selected companies spanning banking, ports, jewellery, digital platforms, capital markets, auto components, engineering, textiles, aerospace and pharmaceuticals. The portfolio reflects confidence in India's domestic growth story, even as global uncertainty and foreign investor selling continue to weigh on market sentiment. The brokerage expects Nifty earnings per share to grow 16% in FY27 and 14% in FY28, compared with 5% growth in FY26, with valuations becoming more attractive following the market correction. As per Motilal Oswal, Nifty valuations are attractive at 17.5x forward earnings, 16% below the long-term average.
Leading the Diwali portfolio is SPR Auto Technologies with a target price of ₹6,150, implying an upside of 41%. Motilal Oswal sees the company evolving from a piston manufacturer into a diversified auto-component platform, with acquisitions contributing around 35% of revenue and increased content per vehicle to more than ₹30,000. Titan follows with a target of ₹6,000, offering a 35% upside, supported by strong sourcing capabilities and rising share of studded jewellery. Eternal is positioned third with a target of ₹420, indicating a 22% upside, built around food-delivery platform growth and Blinkit's expansion targeting more than 3,500 stores by FY27. Other high-potential stocks include Unimech Aerospace (35% upside), Shaily Engineering Plastics (29% upside), and Symbiotec Pharmalab (15% upside).
The portfolio includes Kotak Mahindra Bank with a target price of ₹1,430, indicating a 14% upside, supported by continued opportunities in derivatives and rising capital market participation. BSE has a target of ₹4,000, suggesting a 14% upside, with futures and options turnover increasing 85% in October 2026. The brokerage expects the partial rollback of closing auction session norms from December 7, 2026, to support exchange volumes. Adani Ports rounds out the banking sector with strong fundamentals supporting its position in the ports and logistics space. Kotak Mahindra Bank specifically benefits from healthy growth across retail, small business and corporate lending, with loan growth guided at around 1.5-2 times nominal GDP growth. The brokerage estimates net interest income and net profit CAGRs of around 19.7% and 24.1% over FY26 and FY28, with return on assets of 2.07% in FY27.
Motilal Oswal enters Samvat 2083 with a cautiously constructive view, noting that Indian equities faced challenges in Samvat 2082 including the West Asia conflict, crude oil prices above $100 per barrel, a weaker rupee and substantial foreign institutional investor outflows. The Nifty 50 declined around 12% during Samvat 2022 up to October 29, 2026. However, the brokerage points out that domestic economic fundamentals remained resilient, with India's GDP growing 7.8% in the first quarter of FY27. The primary market remained active with major developments including the Jio Platforms IPO and NSE's listing. The brokerage advises investors to remain selective, particularly in the small-cap segment, while focusing on companies positioned to benefit from India's domestic growth, manufacturing expansion, organised consumption and rising participation in financial markets. Key events in Samvat 2083 include energy shock and policy response, earnings growth trajectory with Nifty50 EPS growth of 16% for FY27E and 14% for FY28E, and foreign selling versus domestic flows with record SIP inflows.
