Diwali 2023 Stock Picks: Religare Broking lists TCS, Axis Bank among 5 other top picks for Samvat 2080
Diwali 2023 Stock Picks: TheIndian domestic equity market reached all-time highs in 2023 and ended Samvat 2079 on a strong note. Frontline index Nifty 50 breached the 20,000 mark and 20,000 mark gained 10 per cent in this period, while broader indices Nifty mid- and smallcap outperformed with gains of 30 per cent and 36 per cent, respectively. Going ahead, for Samvat 2080, the global geopolitical situation will remain grim as the Israel-Palestine war has added to the already crippled global order due to the Russia-Ukraine war.
Analysts expect that in light of mounting fundamental tailwinds, the Indian market is poised to sustain its prevailing bullish momentum into Vikram Samvat 2080. Global banks and financial institutions have also expressed optimism towards the Indian market. In the current market scenario, domestic brokerage firm Religare Broking has released its top five Diwali 2023 stock picks for Samvat 2080.
The brokerage has selected quality stocks on technical as well as fundamental parameters. Also Read: Diwali 2023: How should you trade stocks, gold, commodities during special Muhurat session? Let's take a look at the top five technical and fundamental stocks for Diwali by brokerage Religare Broking: 1. Tata Consultancy Services (TCS): Target Price: ₹4.089; Upside: 20.9 per cent Amongst the large-cap IT pack, the TCS topline has been growing at a steady pace of 12.9 per cent CAGR or compound annual growth rate over the last five years driven by strong demand for transformation towards digital and cloud technology.
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