Indian equities have outperformed global markets in Samvat 2079 and the outperformance is expected to continue in Samvat 2080. Stock exchanges BSE and NSE will conduct a one-hour special ‘Muhurat’ trading session on Sunday (November 12), marking the beginning of a new Samvat 2080 – the Hindu calendar year that starts on Diwali. It is widely believed that trading during the ‘Muhurat’ (auspicious hour) brings prosperity and financial growth for investors.

Ahead of the session, we at Business Today Markets (Online) have asked analysts from a few brokerages about their preferred stock picks from Nifty over a 12-month period. In response to the survey’s query, Satish Menon, Executive Director at Geojit Financial Services, said Reliance Industries Ltd (RIL) and HDFC Bank Ltd are likely to benefit in the medium- to long-term.

For RIL, Menon said, “Recent underperformance is attributed to crude price volatility and increased capital spending, impacting operating performance. Positive medium-to-long-term prospects of RIL are anchored in Jio Platforms Ltd’s growing subscribers, data traffic, cost efficiencies, nationwide 5G services, JioAirFiber, and increased gas production. And, the company’s strategy of both organic and inorganic expansion remains steadfast. The recent quarter displayed impressive margin growth despite flat revenues, signalling a positive medium-term trend led by moderation in crude prices.” He suggested a one-year target price of Rs 2,641 on the RIL counter.

Speaking on HDFC Bank shares, the market expert said, “We expect the NIM (Net interest margin) to have bottomed out and anticipate a gradual recovery in the near term. The merger with HDFC is likely to be beneficial in the medium to long term. Currently, the valuation has become more attractive.” He gave a target price of Rs 1,964 on HDFC Bank’s stock.

Replying to the same question from BT on top stock picks, Nikhil Kapoor, Senior VP-Research at JM Financial Services Ltd, also recommended RIL. “For Reliance, we expect that a cyclical upturn in the energy sector will enhance the long-term growth path of its consumer-oriented business. RIL has superior profit margins compared to rivals. We pinpoint exclusive hedging possibilities within the O2C business, driven by its diversified feedstock sources and intricate asset portfolio,” Kapoor stated while giving a target price of Rs 2,900 over the next 12 months.

The other stock which JM Financial’s Kapoor included in his long-term picks was Larsen & Toubro Ltd (L&T). “We believe L&T is well positioned to benefit from sustained momentum in government funded domestic infrastructure projects, and order inflow from the Middle East; a pick-up in private capex, aided by the government’s push on manufacturing (PLIs + policy); and potential sale/financing of non-core power, road, and metro projects, which would improve balance sheet/return ratios,” he said. Kapoor gave a target of Rs 3,430 for L&T.

Arpit Jain, Joint Managing Director at Arihant Capital Market, selected L&T, UPL Ltd, HDFC Bank and Kotak Mahindra Bank as his top picks for potential market outperformance. “L&T benefits from increased infrastructure focus; UPL showcases resilience in the agriculture sector; and HDFC/Kotak Bank represents financial stability. These choices balance sector-specific strengths, offering a diversified outlook,” Jain stated.

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(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)

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