As the festival of lights approaches, leading brokerage houses have unveiled their top stock ideas for Diwali 2025. With improving market sentiment, falling inflation, and a robust domestic growth outlook, analysts are turning optimistic on midcap and thematic plays that could shine in the coming quarters.
Brokerages including Ventura, Motilal Oswal, ICICI Group, Anand Rathi, Keynote and Mastertrust have handpicked top stock picks for diwali 2025 across infrastructure, digital finance, agrochemicals, energy, and consumer services — all positioned for multi-quarter growth.
Let’s take a closer look at the top stock picks for Diwali 2025 and the rationale behind them 👇
💥 Ventura Securities – Focusing on Turnaround and Re-rating Stories
Ventura has placed its bets on companies that are emerging from challenging phases and showing improving fundamentals.
- Hindustan Construction Company (HCC)
- LTP: INR 27.84 | Target: INR 64 | Upside: 130%
HCC tops Ventura’s Diwali list. With debt restructuring largely behind and a healthy order book ahead, the brokerage expects strong re-rating potential. Government focus on infra spending further strengthens the outlook.
- LTP: INR 27.84 | Target: INR 64 | Upside: 130%
- One97 Communications (Paytm)
- LTP: INR 1,224 | Target: INR 2,074 | Upside: 69%
Ventura remains bullish on Paytm as it gains traction in digital payments and loan distribution. Improving monetization, cost optimization, and recovery in merchant business are expected to drive growth.
- LTP: INR 1,224 | Target: INR 2,074 | Upside: 69%
🚌 Keynote Capitals – Picks Travel Sector
- Yatra Online
- LTP: INR 161.78 | Target: INR 257 | Upside: 59%
The travel sector’s recovery continues post-pandemic, and Yatra’s revenue run rate now surpasses pre-COVID levels. Analysts see Yatra turning profitable by FY26 amid strong travel demand and cost controls.
- LTP: INR 161.78 | Target: INR 257 | Upside: 59%
🌾 ICICI Group – Betting on Quality Compounders
ICICI Securities and ICICI Direct have focused on companies with consistent earnings, strong brand recall, and long-term structural growth visibility.
- Godrej Agrovet
- LTP: INR 670 | Target: INR 980 | Upside: 46%
ICICI Securities sees margin expansion from its agri-input and dairy businesses. With stable raw material prices and rising rural demand, the brokerage expects healthy earnings growth over the next year.
- LTP: INR 670 | Target: INR 980 | Upside: 46%
- Prince Pipes and Fittings
- LTP: INR 331 | Target: INR 470 | Upside: 42%
ICICI Direct expects steady recovery in housing and construction to boost demand for plumbing and piping products. Stabilizing PVC prices and improving volumes could lift margins going forward.
- LTP: INR 331 | Target: INR 470 | Upside: 42%
⚡ Motilal Oswal – Energy and Real Estate Themes Lead the Pack
Motilal Oswal’s Diwali portfolio captures momentum across the energy and real estate segments.
- Mahanagar Gas (MGL)
- LTP: INR 1,281 | Target: INR 1,700 | Upside: 32.7%
MGL benefits from rising CNG and PNG demand in urban areas. With stable cash flows and attractive dividend yield, analysts see it as a strong defensive play with growth potential.
- LTP: INR 1,281 | Target: INR 1,700 | Upside: 32.7%
- ACME Solar Holdings
- LTP: INR 282 | Target: INR 370 | Upside: 31%
Backed by India’s renewable energy expansion, ACME Solar is set to deliver strong capacity growth. Motilal Oswal expects the company to clock a 25% CAGR through FY26.
- LTP: INR 282 | Target: INR 370 | Upside: 31%
- Sri Lotus Developers
- LTP: INR 184 | Target: INR 250 | Upside: 35%
Strong housing demand and rising project launches make Sri Lotus an attractive play in real estate. The brokerage expects sustained momentum in premium and township projects.
- LTP: INR 184 | Target: INR 250 | Upside: 35%
🧪 Anand Rathi & Mastertrust – Thematic and Consumer Plays
- Sudarshan Chemical Industries (Anand Rathi)
- LTP: INR 1,306 | Target: INR 1,700 | Upside: 30%
A global leader in specialty pigments, Sudarshan is expanding into high-margin export markets. Analysts expect EBITDA margins to rise above 18% by FY26 as demand from Europe and the US strengthens.
- LTP: INR 1,306 | Target: INR 1,700 | Upside: 30%
- Urban Company (Mastertrust Broking)
- LTP: INR 164 | Target: INR 219 | Upside: 33%
The home-services platform continues to see growth in recurring categories like grooming, cleaning, and appliance repair. Rising repeat usage and improving profitability make it an attractive consumer-tech bet.
- LTP: INR 164 | Target: INR 219 | Upside: 33%
💡 Investment Outlook: Where the Smart Money is Moving
Brokerages collectively believe that the festive quarter (Oct–Dec 2025) could mark the beginning of another strong leg for midcaps.
With capex-led growth, resilient consumption, and improving earnings visibility, sectors like infrastructure, renewable energy, chemicals, and digital services could outperform in the next 6–12 months.
List of Top Stock Picks for Diwali 2025
| Brokerage | Stock | LTP (INR) | Target (INR) | Upside (%) | Sector / Theme |
|---|---|---|---|---|---|
| Ventura | Hindustan Construction | 27.84 | 64 | 130 | Infra Turnaround |
| Ventura | Paytm | 1,224 | 2,074 | 69 | Fintech Recovery |
| Keynote | Yatra Online | 161.78 | 257 | 59 | Travel & Services |
| ICICI Securities | Godrej Agrovet | 670 | 980 | 46 | Agri Value Chain |
| ICICI Direct | Prince Pipes | 331 | 470 | 42 | Infra & Housing |
| Motilal Oswal | Mahanagar Gas | 1,281 | 1,700 | 33 | City Gas Distribution |
| Motilal Oswal | ACME Solar | 282 | 370 | 31 | Renewable Energy |
| Motilal Oswal | Sri Lotus Developers | 184 | 250 | 35 | Real Estate |
| Anand Rathi | Sudarshan Chemical | 1,306 | 1,700 | 30 | Specialty Chemicals |
| Mastertrust | Urban Company | 164 | 219 | 33 | Consumer Services |
✨ Bottom Line
From infrastructure and energy to digital platforms and consumer services, top stock picks for Diwali 2025 reflect India’s multi-sector growth story. Brokerages are optimistic that the festival of lights will mark the beginning of a brighter phase for investors — both literally and figuratively.
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