HomeStock Market9 Diwali Muhurat Stocks 2022 by Axis Securities

9 Diwali Muhurat Stocks 2022 by Axis Securities

Diwali Muhurat Stocks 2022 – We are about to enter Samvat 2079 with great enthusiasm. First of all we wish “Happy Diwali and Prosperous New Year” to all our beloved readers.

It is believed that India is in a sweet spot of growth and we hope this festival would enlighten your wealth and financial well-being. At this juncture, it gives us immense joy to announce our Diwali Muhurat picks for this year and hope it will bolster your investment portfolio further. These stocks are given by Axis Securities.

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9 Diwali Muhurat Stocks 2022 by Axis Securities

#1 IDFC First Bank Ltd

IDFC First Bank Ltd is a leading technology NBFC. This bank has strong CASA and deposit base. Looking at result it seems bank is on robust growth outlook. The cost to Income ratio is supporting ROA/ROE expansion. Axis Securities recommend a BUY on the stock with a target price of Rs 70/share, implying an upside of 32% from CMP.

#2 Westlife Development Ltd

Westlife Development Ltd (WLDL), through its 100% subsidiary – Hardcastle Restaurants Pvt Ltd (HRPL) owns and operates McDonald’s restaurants in West and South India. McDonald’s operates in various formats that include standalone restaurants, delivery, drive-thru’s, and On the Go. It also has four brand extensions – McCafe, McBreakfast, McDelivery, and Dessert Kiosks. As on Jun22, WLDL operates 331 McDonald’s restaurants across west and south India. Stock is attractive and had lot of potential of margin expansion. The target price of the stock is Rs 870 per share.

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#3 ITC Ltd

ITC Limited – an Indian conglomerate company headquartered in Kolkata, has a diversified presence across industries such as Cigarettes, FMCG, Hotels, Packaging &Paperboards, Agribusiness, and Software. ITC is available on attractive valuations. Moreover, the recovery in the cigarette business and uptick in Agri, Hotels, and Paperboard in the near term makes ITC a better play in the entire FMCG pack where valuations are high. The target price of the stock is Rs 380 per share.

#4 Sundaram Finance Ltd

Sundaram Finance (SUF), is one of the most trusted and diversified financial services groups in India providing financing for commercial vehicles, cars & utility vehicles, tractors & farm equipment, construction equipment, and SME finance including working capital products. SUF has been conservative in building its loan book during uncertain times and we believe this approach has helped SUF in controlling asset quality stress. Axis Securities recommend a BUY on the stock with a target price of Rs 2,490/share, implying an upside of 17% from CMP.

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#5 Ashok Leyland Ltd

Ashok Leyland (AL) – a flagship company of Hinduja Group, is the third-largest commercial vehicle manufacturer in India. AL remains well-positioned to benefit from the cyclical recovery, especially in buses and higher tonnage trucks where it has a higher market share. Demand recovery and gradual price increases are expected to drive improvement in the longer run. Axis securities recommend a BUY on AL with a target price of Rs 175/share, implying an upside of 17% from the CMP.

#6 Aptus Value Housing Finance India Ltd

Aptus Value Housing Finance India Ltd. (Aptus) is a retail-focused housing finance company primarily serving low and middle-income self-employed customers in the rural and semi-urban markets of India. Aptus Value Housing Finance has Long growth runway with presence in high growth markets. This stock has Best-in-class Return Ratios. Axis Securities recommend a BUY on the stock with a target price of Rs 350/share, implying an upside of 15% from CMP.

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#7 Indian Hotels Company Ltd

The Indian Hotels Company Limited is leading hotel company. IHCL has a portfolio of 242 hotels including 63 under development globally across 4 continents, 11 countries, and in over 100 locations. IHCL is strong luxury brand in industry. This stock has strong growth outlook. Axis securities recommend a BUY on the stock with a target price of Rs 375/share, implying an upside of 14% from CMP.

#8 NOCIL Ltd

NOCIL Ltd. is engaged in the manufacturing of rubber chemicals which are used by the tyre industry and other rubber processing industries. Looking at growth in automobile industry this stock has very good future. NOCIL stands to be the key beneficiary of the China alternative theme in the niche rubber chemical space in India. Axis securities recommend a BUY on the stock with a target price of Rs 300/share, implying an upside of 14% from CMP.

#9 Polycab India Ltd

Polycab India is a leading manufacturer of Cables & Wires with a market share of ~22-24% in the organised market. The growth will be driven by demand recovery, new product launches, product premiumization, and increasing contribution of exports over the long run. Axis securities recommend a BUY rating on the stock with a target price of Rs 2,860/share, implying an upside of 12% from the CMP.

(The views content and recommendations expressed in this post are of  leading stock market experts and do not represent those of Please consult your financial adviser before taking any position in the stocks mentioned)

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion. We do not offer any stock tips, investment, insurance or finance product related advice. Please consult a qualified financial planner and do your own due diligence before making any investment decision.
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