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Equirus Prive, the private wealth offering of Equirus Wealth, has unveiled its Diwali Picks 2026, a curated portfolio of 16 high-conviction stock recommendations spanning large-cap, mid-cap, and emerging companies.
With an investment horizon extending to December 2027, the portfolio identifies businesses that, in Equirus Prive's assessment, are well positioned to benefit from India's evolving economic landscape and long-term structural growth opportunities.
The list spans sectors such as financial services, automobiles, manufacturing, infrastructure, and energy and consumption, bringing together established market leaders and emerging businesses positioned to capitalise on India's evolving growth landscape.
The portfolio has a higher allocation to financial services, reflecting Equirus Prive's positive outlook on India's credit growth, financial inclusion, and the increasing formalisation of savings.
Pallav Bagaria, Managing Director of Equirus Wealth, said, "India's long-term growth story continues to offer opportunities across businesses and sectors, driven by rising domestic consumption, infrastructure development, manufacturing investments, and the increasing formalisation of the economy."
"Through our Diwali Picks 2026, we have identified 16 companies that, in our assessment, offer compelling opportunities to participate in these structural trends. Our approach brings together established businesses with strong competitive positions and emerging companies with differentiated growth opportunities, supported by fundamental research and a focus on long-term value creation," Bagaria added.
The brokerage has picked HDFC Bank, with a target price of ₹990, indicating an upside potential of 30% from its current market price (CMP) of ₹760. Canara Bank has a target of ₹165, implying a 34% upside from ₹123, while Equitas Small Finance Bank has a target price of ₹82, indicating a potential upside of 49% from ₹55.
Among non-bank financial companies (NBFCs), MAS Financial Services features in the list with a target price of ₹450, suggesting an upside of 65% from ₹272. Arman Financial Services has a target price of ₹2,389, indicating a potential upside of 49% from its CMP of ₹1,607.
Equirus Prive has included two automobile companies in its Diwali portfolio. Mahindra & Mahindra has a target price of ₹4,171, indicating an upside potential of 33% from its CMP of ₹3,128. Meanwhile, Hero MotoCorp has a target price of ₹7,427, suggesting a 35% upside from its current market price of ₹5,514.
The engineering and manufacturing segment features several companies that could benefit from industrial activity and infrastructure development. Lloyds Engineering Works has a target price of ₹125, indicating an upside potential of 47% from ₹85. Time Technoplast has a target price of ₹275, suggesting a 58% upside from ₹174.
The brokerage has also included Technocraft Industries, with a target price of ₹3,851, implying a 39% upside from ₹2,770.
GMM Pfaudler has a target price of ₹1,744, indicating an upside potential of 46% from its CMP of ₹1,194. Frontier Springs features in the portfolio with a target price of ₹2,064, suggesting a 50% upside from ₹1,377.
Voltas is the brokerage's pick in this segment, with a target price of ₹1,503, indicating an upside potential of 35% from its current market price of ₹1,115.
Filatex India is the brokerage's pick in the textile segment. It has a target price of ₹118, indicating an upside potential of 26% from its CMP of ₹94.
In the energy segment, Equirus Prive has selected Antelopus Selan Energy, assigning it a target price of ₹1,360. This indicates an upside potential of 54% from its current market price of ₹883.
Regaal Resources features in the portfolio as an agro-processing play. The company manufactures maize starch, specialty starches, and starch derivatives. The brokerage has set a target price of ₹156, indicating an upside potential of 73% from its CMP of ₹90.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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