Pune, Nov 03: Kotak Neo, the retail arm of Kotak Securities Limited, has released Top Stock Picks – Fundamental and Technical - for Muhurat Trading for this Diwali, Samvat 2083.

Wishing everyone on Diwali, Shrikant Chouhan, Head Equity Research, Kotak Neo says, “Samvat 2083 presents a more constructive setup for long-term investors after a prolonged phase of correction and volatility. The Nifty 50 is trading at around 18.5x FY27 and 16.0x FY28 earnings, while we estimate earnings growth of approximately 18% in FY27 and 13% in FY28. Although geopolitical developments, crude oil prices and global monetary conditions may keep near-term volatility elevated, India’s structural growth story remains resilient. We believe investors should avoid trying to time the exact bottom and instead use meaningful corrections to gradually accumulate fundamentally strong businesses, with a preference for quality large & select mid-cap stocks. This Diwali, I wish all investors and their families prosperity, good health and happiness, and may Samvat 2083 bring disciplined investing, rewarding opportunities and enduring wealth creation.”

He recommends the following investment ideas for investors:

SAMVAT 2083 – FUNDAMENTAL MUHURAT PICKS
Stock	Rating	Price (Rs.)	Fair Value (Rs.)
APL Apollo Tubes Ltd.	BUY	2165	2594
Eternal Limited	BUY	344	435
Hindustan Aeronautics	ADD	4854	5305
Jubilant Ingrevia	BUY	558	970
Persistent Systems	BUY	6048	6,500
Titan	ADD	4,436	5,050
Ujjivan Small Finance Bank	BUY	53	85

Source: Kotak Institutional Equities Research, Kotak Neo – Private Client Group, NSE; Note-The above valuation summary is based on prices as on 30th October 2026

SAMVAT 2083 – TECHNICAL MUHURAT PICKS
Company	Action	Entry1	Entry2	Target	Stop Loss
Bajaj Finance Ltd.	BUY	939	850	1200	770
ICICI Bank Limited.	BUY	1398	1300	1800	1200
JSW Steel Ltd.	BUY	1246	1200	1475	1150
Bharat Electronics Ltd.	BUY	370	350	410	340
Reliance Industries	BUY	1165	1100	1400	1050

Details of both fundamental and technical stocks are mentioned in the PDF file.

The fundamental note further includes - India Outlook: Reasonable Valuations, Accelerated Growth

The Indian macroeconomic environment suggests a steady growth outlook, supported by private sector investment in value-added manufacturing. While near-term conditions remain challenging due to the Middle East conflict and volatile foreign outflows, steady domestic institutional buying continues to provide crucial market support. The recent period of price and time correction has navigated Indian equities toward more reasonable valuations, with the Nifty-50 index now trading at a comfortable 18.7x FY27 and 16.5x FY28 earnings. Remarkably, this valuation adjustment occurred even as underlying corporate earnings accelerated, driven by Nifty-50 Q1FY27 yoy earnings growth hitting an 11-quarter high. We estimate this strong double-digit momentum to persist, forecasting Nifty-50 earnings growth at approximately 18% for FY27 and 13% for FY28.

IPOs have broadened market participation and created fresh investment avenues. Although these primary-market issuances temporarily absorb domestic liquidity, successful long-term listings expand the overall investible universe. Ultimately, this dynamic strengthens financial markets, offering sustainable opportunities for wealth creation. While near-term global macro shocks create headline market volatility, India's structural transitions offer a resilient long-term opportunity that operates independently of short-term global noise. The widening gap between negative sentiment and improving valuations is creating a more constructive setup for disciplined, long-term investors. Investors should consider gradually building a diversified portfolio of fundamentally strong businesses through staggered accumulation. This approach can help manage near-term volatility while retaining participation in an eventual market recovery. Wishing you a joyous Diwali and a highly prosperous Samvat 2083.