Diwali Muhurat Trading Picks: Shanti Gold, Apollo Micro Systems Among 8 Stocks To Buy; Check Full List

The NSE and BSE will hold Muhurat Trading 2026 on Sunday, November 8, coinciding with Diwali Lakshmi Puja, with the usual trading session lasting from 2:20 PM to 3:30 PM IST.

As Diwali 2026 approaches, investors are preparing for one of Dalal Street's most anticipated traditions: Muhurat Trading. Melanie Perkins, CEO of Canva, believes that new technology is changing what individuals can create, how they produce it, and what they expect from the products they use.

Marking the start of Samvat 2083, the special stock market session is seen as an auspicious opportunity to make new investments, welcome Goddess Lakshmi, and seek wealth creation in the next year. While the holiday season is often defined by symbolic buying, investors are also hunting for potential equities that could deliver long-term gains.

The NSE and BSE will hold Muhurat Trading 2026 on Sunday, November 8, coinciding with Diwali Lakshmi Puja, with the usual trading session lasting from 2:20 PM to 3:30 PM IST.

In addition to the holiday stock ideas, Angel One Research has highlighted eight equities across sectors that investors should explore for Samvat 2083, with potential upside of up to 32% from their 28 October closing prices based on target prices.

The suggestions include ICICI Bank, Northern Arc, Aarti Pharmalabs, Shanti Gold, Ratnaveer Precision, Engineers India, AGI Infra, and Apollo Micro Systems. The brokerage's recommendations cover financial services, healthcare, consumer discretionary, industrials, real estate, and defense. Here's a glance at the suggested stocks, including their current market values, target prices, and expected gains.

Diwali Top Picks

1) ICICI Bank

CMP: ₹1,363 | Target price: ₹1,800 | Potential upside: 32%

Angel One values ICICI Bank at ₹1,800, based on 18.8 times its predicted FY29 earnings per share (EPS) of ₹95.70, factoring in expected mid-teens profits growth.

According to the brokerage, ICICI Bank raised around $18 billion through FCNR(B) deposits under the RBI's swap facility in Q2 FY27. This increased deposit growth to 27.1%, compared to 17% without FCNR deposits, while loan growth was 30%, or 24.1% removing loans against FCNR deposits.

While the funding ensures stability for the next three to five years, it has momentarily hurt on the bank's net interest margin (NIM), which fell to 4.18% from 4.36%. Excluding the impact of a tax return in Q1, the NIM was roughly 4.28 percent.

Angel One expects the entire impact of the funding mix to be apparent in Q3 FY27, with a rebound in Q4 when funds are deployed and higher-cost deposits are retired.

2) Northern Arc Capital

CMP: ₹255 | Target price: ₹330 | Upside of 29%

Angel One has a Buy recommendation on Northern Arc Capital with a target price of ₹330, based on about 6.1 times the expected FY29 EPS of ₹54. This suggests a price of about one time FY29 expected book value, as opposed to the stock's present valuation of 4.5 times, according to the brokerage.

According to Angel One, Northern Arc's loan assets under management (AUM) are expected to reach ₹28,600 crore by FY29, with an annual growth rate of over 20%. A bigger contribution from direct-to-consumer lending is likely to boost NIM to 10%.

The firm predicts return on equity (ROE) to rise from 11% to roughly 16%, aided by lower credit costs. It feels that the stock's value is acceptable in light of its profits growth prospects.

3. Aarti Pharma Labs.

CMP: ₹879 | Target price: RS 1,160 | Potential upside: 32%.

Angel One has commenced coverage on Aarti Pharmalabs with a Buy rating and a target price of ₹1,160. This is based on 24 times its anticipated FY29 EPS of ₹48. The stock is presently trading at around 17.1 times earnings, according to the brokerage.

Angel One anticipates profitability to improve as it progresses up the value chain from xanthine and active pharmaceutical ingredients (APIs) to contract development and manufacturing organization (CDMO) services.

The CDMO business is predicted to increase 40-50% in FY27, with standalone EBITDA margins of 22-25%. The firm feels that the value remains favorable in light of the predicted increase in ROE from 8.5% to 15%.

4.Shanti Gold International

CMP: ₹316 | Target price: ₹410 | Upside: 30%.

Angel One has issued a Buy recommendation to Shanti Gold International with a target price of ₹410, based on 10.5 times its expected FY29 EPS of ₹ 39.

The brokerage expects the business to maintain volume-led growth, aided by increased manufacturing capacity at Marol and Jaipur, as well as the addition of new retail clients. These elements might contribute to sales increase of 50-60% in FY27.

While Angel One sees potential for profits growth, it notes that the stock's price is acceptable in light of its 38% ROE. However, it cautioned that the upside might be limited given the significant re-rating since August.

5. Ratnaveer Precision Engineering.

CMP: ₹344 | Target price: ₹400 | Upside of 16%

Angel One commenced coverage of Ratnaveer Precision Engineering with a Buy rating and a target price of ₹400, based on 30 times its anticipated FY29 EPS of ₹13.40.

The brokerage anticipates that the company's core washer business and the future Copper Clad Laminate (CCL) project would drive profits growth. Production at the new factory is planned to commence in November 2026, bringing a higher-margin electronics company into the portfolio.

Angel One cited the execution and ramp-up of the CCL project as a critical factor for investors to watch.

6. Engineers India.

CMP: ₹248 | Target price: ₹320 | Upside of 29%

Engineers India has the potential for continuous profits growth as it steadily raises its contribution of higher-margin consultation services, according to Angel One.

The brokerage cited the company's ₹14,424 crore order book and ambition of hitting ₹5,000 crore in sales by FY28 as significant growth drivers. It believes that the shifting business mix and robust project pipeline will help to improve profits visibility.

According to Angel One's value assessment, the company has a target price of ₹365, which is 22.3 times the expected FY29 earnings per share of ₹16.

7. AGI Infra

CMP: ₹221; Target price: ₹285; Upside: 29%.

Angel One has commenced coverage on AGI Infra with a Buy rating and a target price of ₹285. This is based on 24.6 times its anticipated FY29 EPS of ₹12. The stock is presently trading at around 18.5 times earnings, according to the brokerage.

The firm anticipates profits growth to be led by the company's expansion into Punjab and new launches in Tier II regions. Its capacity to maintain EBITDA margins of 35% or above is another feature that supports the investment thesis.

8. Apollo MicroSystems

CMP: ₹415 | Target price: ₹475 | Upside of 15%

Angel One reiterates its optimistic perspective on Apollo Micro Systems following the company's good Q2 FY27 performance and recommends buying to the stock, with a revised target price of ₹475.

In Q2 FY27, the firm recorded 72% sales increase, 28.6% EBITDA margin, and ₹46 crore net profit. The company's order book hit a record ₹1,765 crore, and revenue growth in the first half of FY27 was 78%, above the full-year growth estimate of 40-45%.

Angel One anticipates that the company's earnings will continue to rise as it progresses up the defense value chain, expanding into explosives and integrated weapons systems.