As Diwali lights up homes across India, the stock market too gears up for its most symbolic session of the year, Muhurat Trading 2025, which marks the beginning of Samvat 2082.
This auspicious occasion, steeped in tradition and optimism, is often viewed as a time for investors to make new beginnings and set the tone for their portfolios in the new Hindu calendar year.
Leading brokerage Kotak Securities has unveiled its list of top stock recommendations for the new Samvat, reflecting cautious optimism and confidence in India’s growth narrative despite recent volatility.
Samvat 2081: A Year Of Consolidation And Global Headwinds
Indian markets had a subdued run in Samvat 2081, underperforming several global peers. The Nifty slipped to a low of 21,750 in March 2025, while the Sensex touched 71,500, both losing around 1.5 per cent during the period, the brokerage highlighted.
Midcap and smallcap indices fell even further, by roughly 5.6 per cent and 5.4 per cent, respectively. This underperformance came despite several positive developments, including easing inflation, lower crude prices, interest rate cuts by the RBI and US Federal Reserve, and the government’s tax rationalisation efforts.
However, persistent foreign institutional investor (FII) outflows, amounting to $27.3 billion (Rs 2.4 lakh crore), weighed heavily on sentiment.
On the brighter side, domestic institutional investors (DIIs) infused nearly Rs 4.5 lakh crore, while retail investors maintained strong participation through systematic investment plans (SIPs), contributing Rs 1.37 lakh crore in the first half of FY26.
Among sectors, Bank Nifty rose 7.2 per cent, while autos posted modest gains. In contrast, IT, FMCG, utilities, consumer durables, and real estate witnessed sharp declines, reflecting mixed corporate earnings and tariff uncertainties.
Samvat 2082 Outlook: Optimism With A Cautious Tone
Market experts believe that Samvat 2082 could usher in an earnings-led recovery, supported by structural reforms, GST 2.0, tax relief, and a conducive policy environment.
“As we usher in Samvat 2082, optimism is gradually returning to Indian markets. The year gone by tested investor patience, but strong domestic fundamentals remain intact,” said Amisha Vora, Chairperson and Managing Director, PL Capital.
She added that with India’s GDP projected to grow 6.8 per cent in FY26, valuations appear reasonable and earnings downgrades may have bottomed out, setting the stage for potential outperformance.
Similarly, Motilal Oswal Financial Services (MOFSL) remains positive on banking, capital markets, consumption, manufacturing, and digital sectors, noting that India continues to stand out as a macro-stable, liquidity-rich economy amid global headwinds.
Stock Picks For Muhurat Trading 2025
Kotak Securities expects stabilising earnings and broad-based growth in FY27, forecasting Nifty 50 earnings to grow 18 per cent in FY27 and 14.3 per cent in FY28. While rich valuations could cap upside potential, analysts expect strong fundamentals to support market resilience.
Here are Kotak’s top stock ideas for Samvat 2082
* Adani Ports & SEZ (Target: Rs 1,900 | Rating: Buy)
Kotak expects strong volume growth, especially from East Coast ports, and values the stock using a DCF and SoTP methodology.
* Acutaas Chemicals (Target: Rs 1,780 | Rating: Buy)
A fast-growing player in pharma intermediates and specialty chemicals, expected to deliver 25 per cent revenue growth driven by margin expansion and new CDMO projects.
* Cummins India (Target: Rs 4,400 | Rating: Add)
The company continues to expand in power generation and distribution, maintaining over 20 per cent margins and 14–15 per cent CAGR in revenue and profit.
* Eternal (Target: Rs 375 | Rating: Buy)
With Blinkit’s rising market share and plans for EBITDA breakeven by H2FY26, Kotak projects an 83 per cent CAGR in consolidated revenue over FY25–28.
* ICICI Bank (Target: Rs 1,700 | Rating: Buy)
Strong RoE of 18 per cent, broad-based loan growth, and robust asset quality make it one of the preferred picks in the BFSI space according to the brokerage.
* Mahindra & Mahindra (Target: Rs 4,000 | Rating: Buy)
Kotak expects continued growth across tractors, SUVs, and LCV segments, supported by strong rural demand and improved profitability.
* Reliance Industries (Target: Rs 1,555 | Rating: Add)
With plans to list its telecom arm by H1CY26 and ambitious expansion in FMCG and digital ventures, RIL is poised for long-term growth, the brokerage noted.
As investors prepare for Muhurat Trading 2025, experts recommend maintaining a balanced approach, blending blue-chip stability with growth-oriented midcaps. With structural reforms, fiscal stimulus, and festive consumption tailwinds, Samvat 2082 may well mark the beginning of a more rewarding phase for Indian equities.
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