Diwali Picks 2026: PL Capital Names 8 Stocks for Samvat 2083
- 6th November 2026
- 11:00 AM
- 3 min read
Summary
PL Capital Research has named four large cap and four mid and small cap stocks in its Diwali Picks 2026 report, released in Mumbai on 6 November 2026. The list includes Bharat Electronics, ICICI Bank and Delhivery. It follows Samvat 2082, which the report calls one of the most volatile years in the recent past.Mumbai | 6 November 2026
Diwali Picks 2026 is a PL Capital Research report that names eight stocks for Samvat 2083. The list covers defence, banking, consumer goods, finance, power, logistics and industrial companies.
What Made Samvat 2082 So Volatile?
The Nifty fell to the 22,300 level twice in the past six months. The past 12 months were marked by the US-Iran and Russia-Ukraine wars and tariff-related issues.
At home, the year had a 13% rainfall shortfall, and inflation and interest rates rose sharply while crude oil prices stayed high and volatile.
Domestic demand still held up, helped by the delayed effect of goods and services tax (GST) cuts and steps taken by the Government of India. PL Capital Research notes that India remains the fastest-growing large economy, with a rising industrial base and a focus on defence, semiconductors, data centres and renewables. Markets now show signs of revival, as recent US mid-term election results will likely reduce geopolitical uncertainty.
Which Large Cap Stocks Made the List?
Large cap stocks are shares of the biggest listed companies by market value. Projections below use compound annual growth rate (CAGR), the average yearly growth rate, across financial years (FY). Current market prices are as on 6 November 2026.
| Stock | Business | Current market price | Target price | Key highlight |
| Bharat Electronics | Defence electronics | ₹395 | ₹490 | Order book of ₹687.2 billion, 2.3x its sales over the last 12 months |
| Britannia Industries | Biscuits and bakery | ₹4,980 | ₹6,579 | Signature brands grew 3x faster than the rest of its portfolio in FY26 |
| ICICI Bank | Banking | ₹1,500 | ₹1,900 | Core earnings CAGR of about 25% projected from FY26 to FY28 |
| Shriram Finance | Vehicle, gold and micro, small and medium enterprise (MSME) loans | ₹964 | ₹1,200 | Assets under management (AUM) CAGR of about 18% projected from FY26 to FY29 |
Which Mid and Small Cap Stocks Made the List?
Mid and small cap stocks are shares of smaller listed companies.
| Stock | Business | Current market price | Target price | Key highlight |
| Blue Star | Air conditioners and data centre projects | ₹1,572 | ₹1,783 | Data centre order bookings expected to reach ₹40 billion in FY27 |
| CESC | Power and renewable energy | ₹130 | ₹204 | Renewable capacity planned to rise from 0.4 gigawatts (GW) in the first quarter of FY27 to 4.5GW by FY29 |
| Delhivery | Logistics | ₹430 | ₹541 | Sales CAGR of 18% projected over the next three years |
| Ingersoll-Rand (India) | Compressors | ₹3,970 | ₹5,029 | About 50% capacity expansion at Sanand |
CESC’s proposed purchase of ReNew’s 1.4GW operational renewable portfolio is expected to close by mid-November 2026. Delhivery’s parcel volumes in October beat internal expectations.
Outlook
PL Capital Research will track demand trends in the coming quarters, given the weak monsoon and rising inflation and interest rates. It also expects some slippage in the fiscal deficit, the gap between government spending and income, as the government absorbs high crude oil and fertiliser costs. Foreign institutional investor (FII) flows and an improved geopolitical order will be key factors to watch in Samvat 2083.
Read the full report on Diwali Picks 2026: (Click on the Link for Detailed Report)
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