In this article, we are going to look at Diwali 2023 stock picks. Religare Broking has now officially listed TCS, Axis Bank, ITC, SBI Life Insurance, and Maruti Suzuki as the top picks for the occasion of Diwali 2023. The Indian domestic equity market has now officially reached an all-time high this year and it has ended Samvat 2079 on a very great note. And now the Frontline Index Nifty 50 has breached the 20,000 mark and the 20,000 mark gained 10% in 2023 whereas, on the other hand, the broader indices Nifty mid and small-cap have outperformed with decent gains of 30% and 36%. Read this entire article to learn everything.
if we look at the Samvat 2800 so the global geopolitical situation is going to remain grim as the war between Israel and Gaza has now added to the crippled global order because of the Russia and Ukraine war. recently analysts have said that they are expecting that in the light of mounting fundamental tailwinds the market of India is currently poised so that it can sustain in the preval the bullish momentum in the Vikram Samvat 2080. On this, the financial institutions and Global banks have officially expressed optimism for the Indian market. Scroll down to the next paragraph to learn more.
if we focus on the market scenario of this time the domestic brokerage firm Religare Broking officially released the top Diwali 2023 stock picks for the Samvat 2080. brokerages have already selected the quality stocks on the technical and fundamental parameters. now if we look at the top five technical and fundamental stocks for Diwali 2023 by brokerage Religare Broking. The first is Tata Consultancy Services (TCS). The target price of the company is Rs. 4,089 and the upside is 20.9%. The TCS topline is growing at a steady pace of 12.9% CAGR or it can compound the annual growth rate more than the previous five years which is driven by the great demand for the transformation in digital technology.
The second company is ITC, the target price of the company is Rs. 535, and the upside is 22.4%. The company is going to continue on the ITC Next strategy. The third company is Axis Bank. The target price of the company is Rs. 1,167 and the upside is 14.2%. The retail assets are continuing to become the focus drive of growth for that bank which has raised at the CAGR of 17% over FY20-23. The fourth company is Maruti Suzuki India whose target price is Rs. 12,714 and the upside is 23.2% the fifth company is SBI Life Insurance whose target price is Rs. 1,644 and the upside is 22.2%.