Diwali Stock Picks 2025: Market Highs & Thematic Research

This Diwali, Let Your Portfolio Shine Brighter Than the Diyas

As we celebrate Diwali, domestic equities continue to show structural strength. Below is our research view for the year ahead, covering benchmark indices, sector leaders, commodities, and our curated stock picks for learning and research.

Research document: Download the original Diwali 2025 research document (PDF) for offline reference.

Diwali 2025 Picks: Live Scorecard

Reco prices are the Diwali 2025 prices from the original report. Live prices refresh during market hours, so the return column always reflects the latest trade. Long-term research picks focus on business quality and structural tailwinds and do not carry fixed price targets.

Proof of record: the Diwali 2025 watchlist exactly as shared on WhatsApp on 20 Oct 2025 at 3:13 pm IST. Every price matches the reco prices in the scorecard above (MCX is shown before its 5:1 split of 2 Jan 2026).

Market Highlights & Thematic Backdrop

• Nifty and index leadership: Nifty scaled new 52-week highs, powered by solid earnings momentum and strong performance from banking and financials.
• Bank Nifty: trading at lifetime highs and leading the overall market.
• Index target for the year ahead: by next Diwali, we expect Nifty to target 27,000 to 29,000.
• What's next: mid-caps and small-caps are expected to shine once index heavyweights take a breather. Union Budget optimism could further support sentiment.

Commodities Corner

• Silver: the rally looks overextended in the near term. Expect consolidation between ₹1,26,000 and ₹1,37,000, with the next structural breakout zone above ₹1,73,000.
• Gold: likely to enter a healthy consolidation phase before resuming its next leg higher.

Stock Notes & Thematic Views

1. Ather Energy (ATHERENERG)

• Sector: Clean mobility and electric vehicles
• Investment thesis: strong expansion in EV two-wheeler market share, rapid dealership growth across Tier-2 and Tier-3 cities, and improving unit economics per vehicle.
• View: long-term structural play on Indian clean mobility adoption.

2. Acutaas Chemicals (ACUTAAS)

• Sector: Specialty chemicals
• Investment thesis: rebound in export demand, high operating leverage, and a breakout above multi-year resistance supported by institutional accumulation.
• View: long-term growth; trailing stops help protect gains.

3. Navin Fluorine International (NAVINFLUOR)

• Sector: Fluorochemicals and CDMO
• Investment thesis: commercialisation of dedicated agrochemical and pharmaceutical intermediate contracts, driving margin normalisation and strong cash flows.
• View: sustained uptrend holding above key weekly moving averages.

4. Radico Khaitan (RADICO)

• Sector: Consumer and alcoholic beverages
• Investment thesis: luxury and premium spirits brands outperforming mass segments, lifting gross margins and brand equity.
• View: core consumer growth holding.

5. TVS Motor Company (TVSMOTOR)

• Sector: Automobiles (2W and 3W)
• Investment thesis: industry-beating domestic volume growth, leadership in premium EV scooters, and an expanding international footprint.
• View: accumulate on pullbacks near key weekly support.

6. Apollo Hospitals Enterprise (APOLLOHOSP)

• Sector: Healthcare and hospitals
• Investment thesis: high occupancy across metro hospitals, pharmacy network expansion, and narrowing digital health losses.
• View: steady compounder for defensive portfolio stability.

7. Multi Commodity Exchange (MCX)

• Sector: Financial exchanges
• Investment thesis: natural monopoly in Indian commodity derivatives, with continued growth in retail and institutional participation across options and bullion contracts.
• View: key market infrastructure franchise. MCX split its shares 5:1 on 2 January 2026, so the scorecard shows the split-adjusted reco price.

8. Maruti Suzuki India (MARUTI)

• Sector: Automobiles (passenger vehicles)
• Investment thesis: unmatched domestic passenger car market share, an aggressive hybrid rollout, and a strong dealer network post-GST reforms.
• View: value accumulation zone during broader auto inventory adjustments.

9. Fortis Healthcare (FORTIS)

• Sector: Healthcare
• Investment thesis: brownfield bed expansion, cost rationalisation, and growth in diagnostics revenue.
• View: patient accumulation for long-term turnaround value.

Discipline, Patience & Smart Investing

Let us celebrate prosperity with knowledge, patience, and smart investing.

• Diversify exposure across sectors rather than concentrating in a single stock.
• Align position sizes with individual risk capacity.
• Quality businesses compound wealth when given time across market cycles.