10 Stocks to Watch in Muhurat Trading 2026 for Samvat 2083

Diwali is not just a time for celebrations. For many investors in India, it also marks the beginning of a new financial year according to the Hindu calendar. This is when the stock market observes its special Muhurat Trading session, considered an auspicious time to begin new investments.

As markets enter Samvat 2083, investors may be looking at companies that could benefit from India's long-term growth opportunities. Banking, manufacturing, infrastructure, healthcare, renewable energy and clean mobility are some of the themes that could remain in focus during the year.

However, choosing stocks for the new Samvat year requires more than just looking at market trends. Investors should also consider a company's earnings performance, business outlook, growth opportunities, valuations and associated risks.

With this in mind, SMC Global Securities has identified 10 stocks across different sectors for its Samvat 2083 outlook. Here is a closer look at these companies, the factors supporting their outlook and the research team's target prices.

10 Stocks to Watch in Muhurat Trading 2026

The following stocks have been selected based on SMC's research outlook for Samvat 2083. The list covers companies from banking, pharmaceuticals, power, automobiles, metals and capital goods.

CMP and upside potential are based on closing prices as of 3 November 2026. Target prices and upside estimates are as per SMC's research report.

1. ICICI Bank

ICICI Bank is one of India's leading private-sector banks, with a diversified presence across retail, corporate, and business banking, as well as financial services.

The bank's growth outlook is supported by healthy credit demand across multiple segments. Its corporate and business banking portfolios have recorded strong growth, while retail and rural lending continue to contribute to its loan book.

In Q2 FY27, the bank reported a 17.7% year-on-year increase in net interest income to ₹25,339 crore. Standalone profit after tax rose 20.1% to ₹14,843 crore. Its asset quality also remained stable, with the gross NPA ratio at 1.20% and net NPA ratio at 0.30%. Also, NIM declined to 4.18% in Q2 FY27 from 4.30% a year ago. 

Going ahead, growth in corporate credit, business banking and retail lending, along with its strong capital position, could support the bank's earnings outlook.

Why watch: Healthy loan growth, stable asset quality and strong capital adequacy.

2. Indian Bank

Indian Bank is a public sector lender with a wide domestic branch network and a growing digital banking presence. Its lending portfolio covers retail, agriculture, MSME and corporate segments.

The bank's Retail, Agriculture and MSME (RAM) portfolio has been a key growth driver. In Q2 FY27, gross advances increased 16.39% year-on-year, while the RAM portfolio grew 17.74%.

Its financial performance also remained healthy. Net interest income increased 17.83% year-on-year to ₹7,719 crore, while net profit rose 14.71% to ₹3,462 crore.

Asset quality remained strong, with the gross NPA ratio improving to 1.61% and the net NPA ratio declining to 0.14%. The bank also maintained a healthy domestic CASA ratio of 39.36%.

Why watch: Growth in retail, agriculture and MSME lending, supported by stable asset quality and a healthy deposit base.

3. Mankind Pharma

Mankind Pharma operates in the pharmaceutical and consumer healthcare segments. It has a strong presence in the domestic market, supported by a wide distribution network and a portfolio of medicines across multiple therapeutic areas.

The company's focus on chronic therapies, speciality medicines and international markets could support its future growth.

In Q2 FY27, Mankind Pharma reported 17.3% year-on-year revenue growth to ₹4,338 crore. EBITDA increased 27.2% to ₹1,175 crore, while profit after tax rose 37.7% to ₹716 crore.

Its speciality business, supported by Bharat Serums and Vaccines, has also been an important growth contributor. The company is investing in new treatment areas and strengthening its presence in women's healthcare, fertility and critical care.

Why watch: Strong domestic business, growth in speciality therapies and expansion in international markets.

4. JSW Energy

India's growing electricity requirements and its transition towards cleaner energy sources have brought power companies into focus. JSW Energy is one of the companies looking to benefit from these developments.

The company has an operational power generation capacity of 15,147 MW as of October 2026. Renewable energy accounts for approximately 61% of this capacity, with the remaining capacity coming from thermal power.

JSW Energy is also expanding its generation and energy storage capacities. Its long-term plans include reaching 30 GW of generation capacity and 40 GWh of energy storage by 2030.

In Q2 FY27, the company's consolidated revenue increased 24% year-on-year to ₹6,658 crore, while EBITDA grew 23% to ₹3,907 crore. Profit after tax increased 38% to ₹1,141 crore.

Why watch: Capacity expansion, rising power demand and investments in renewable energy and storage.

5. Ashok Leyland

Ashok Leyland is a major player in India's commercial vehicle market, with a presence across medium and heavy commercial vehicles, light commercial vehicles, buses and defence vehicles.

The company is working to strengthen its position across commercial vehicle categories while expanding its electric mobility business through Switch Mobility.

In Q1 FY27, Ashok Leyland reported revenue of ₹9,634 crore, up 10% year-on-year. Its total commercial vehicle volumes, including defence, reached 48,763 units. Domestic medium and heavy commercial truck volumes increased by 15%, while light commercial truck volumes grew by 21%.

The company's focus on new products, network expansion and electric buses could support its business outlook. Its presence in power solutions, defence and aftermarket services also provides some diversification beyond its core commercial vehicle business.

Why watch: Commercial vehicle demand, market share gains in light commercial vehicles and expansion in electric mobility.

6. Sona BLW Precision Forgings

Sona BLW Precision Forgings, also known as Sona Comstar, is an automotive technology company that manufactures components and systems for electric and conventional vehicles.

The company has a strong presence in driveline technologies, traction motors, sensors and other automotive components. It is also expanding into railway systems and robotics-related products.

One of its key growth drivers is its exposure to electric vehicles. In Q2 FY27, revenue from battery electric vehicles increased 129% year-on-year to ₹606.1 crore, accounting for 51% of automotive product revenue.

The company also reported a net order book of ₹25,100 crore, providing visibility into future business opportunities. Its expansion into railways and robotics could further diversify its revenue streams.

Why watch: Growing EV exposure, a strong order book and expansion into new technology-led business segments.

7. Ipca Laboratories

Ipca Laboratories is an Indian pharmaceutical company with a presence in domestic formulations, active pharmaceutical ingredients (APIs) and international markets.

Its business growth is supported by domestic medicine sales, exports and API manufacturing. The company also has a presence in several therapeutic areas through its branded formulations portfolio.

In Q2 FY27, consolidated revenue increased approximately 13.8% year-on-year to ₹2,909.94 crore. Profit after tax was up by 38.8% YOY to  ₹389.32 crore

Exports and API operations were among the key contributors to growth. The company is also investing in manufacturing capacity and expanding its presence in international markets.

Why watch: Growth in domestic formulations, exports and APIs, along with improving operating margins.

8. Shyam Metalics and Energy

Shyam Metalics and Energy is an integrated metal producer with operations across steel, aluminium and power generation.

The company is expanding its production capacity and strengthening its presence in value-added metal products. Its integrated operations, including captive power generation, are expected to support cost efficiency.

Under its expansion plans, the company aims to increase its combined metal production capacity from 18.49 MTPA to approximately 27 MTPA. It is also expanding its finished steel and aluminium-related capacities.

The company has outlined a long-term growth plan under Vision 2031, targeting consolidated revenue of more than ₹42,500 crore and EBITDA of over ₹6,600 crore by FY31.

Why watch: Capacity expansion, value-added products and integrated operations that could support long-term growth.

9. BEML

BEML is a public sector company operating across three major business segments: defence and aerospace, mining and construction, and rail and metro.

The company's business outlook is linked to opportunities in railway modernisation, metro expansion, defence manufacturing and infrastructure development.

Its order book stood at a little over ₹16,000 crore, with rail and metro projects accounting for the largest share. In Q1 FY27, the company reported 29% year-on-year topline growth and recorded positive EBITDA of ₹3 crore in Q1 FY27, marking its first positive quarterly EBITDA in the last 10 years.

BEML is also developing high-speed train prototypes for the Mumbai-Ahmedabad corridor and expanding its manufacturing capabilities across different business segments.

Why watch: Railway and metro opportunities, defence manufacturing and a sizeable order book.

10. Indegene

Indegene provides technology-enabled services to global pharmaceutical and life sciences companies. Its solutions span commercial operations, medical affairs, research and development, and drug safety.

The company is positioned to benefit from the increasing use of technology, data analytics and artificial intelligence across the global life sciences industry.

In Q2 FY27, revenue from operations increased 39.5% year-on-year to ₹1,122.3 crore. EBITDA stood at ₹187.3 crore, while profit after tax increased 10% to ₹112.3 crore.

Indegene is also expanding its technology platforms and strengthening relationships with large global pharmaceutical companies. Its focus on AI-led solutions and digital services could provide additional growth opportunities.

Why watch: Demand for technology-enabled life sciences services, global client relationships and expansion of AI-led solutions.

Key Sectors to Watch in Samvat 2083

Apart from individual stock opportunities, investors may also keep an eye on broader sectoral trends during Samvat 2083.

Based on SMC's research outlook, five themes could remain important:

1. Banking and financial services

Healthy credit demand across the retail, MSME, and corporate segments, along with stronger balance sheets and stable asset quality, could support growth in the banking sector.

2. Manufacturing and capital goods

Infrastructure development, railway modernisation, defence indigenisation and industrial capacity expansion could create opportunities for manufacturing and capital goods companies.

3. Healthcare and pharmaceuticals

Rising healthcare spending, increasing demand for chronic therapies and the expansion of speciality medicines could support pharmaceutical companies.

4. Energy and clean mobility

India's growing power requirements, renewable energy expansion and the shift towards electric mobility could keep energy and clean mobility companies in focus.

5. Metals and value-added manufacturing

Infrastructure demand and investments in domestic manufacturing could benefit companies with integrated operations and a growing presence in value-added products.

What Should Investors Consider Before Investing During Muhurat Trading?

Muhurat Trading is a symbolic and traditionally significant market session, but the timing of an investment does not determine its eventual performance.

Before investing, consider a few important factors:

• Understand the business: Look at the company's business model, competitive position and long-term growth opportunities.
• Check financial performance: Review revenue, profit growth, debt levels, cash flows and return ratios.
• Evaluate valuations: A company with strong growth prospects may still be expensive if its stock price already reflects those expectations.
• Understand the risks: Changes in regulations, competition, raw material prices, interest rates and project execution can affect business performance.
• Invest according to your goals: Your investment decisions should reflect your financial goals, risk appetite and investment horizon.

Investors should also avoid making decisions solely because a stock appears in a festive or Muhurat Trading watchlist.

Final Thoughts

Samvat 2083 could bring opportunities across banking, manufacturing, healthcare, energy and infrastructure-related businesses. The companies featured in this list have different growth drivers, ranging from credit expansion and pharmaceutical demand to renewable energy investments, railway projects and electric mobility.

However, stock market opportunities also come with risks. Investors should assess each company's fundamentals, valuation and prospects before making an investment decision.

Muhurat Trading may offer an auspicious start to the new Samvat year, but a disciplined investment approach and a focus on long-term financial goals remain important throughout the year.

Disclaimer: The stocks discussed in this article are based on SMC Global Securities' research outlook for Samvat 2083. The target prices and upside potential are research estimates, not assured returns. Stock prices can move in either direction, and investors should review the associated risks and consult a qualified financial adviser before making investment decisions. This article is for informational purposes only and should not be treated as investment advice.