9 Stocks To Buy For Diwali 2026: Sharekhan has picked nine stocks for Diwali 2026, including ICICI Bank, Bharti Airtel, Larsen & Toubro and Titan Company.
ICICI Bank Share Price TargetICICI Bank has a target price of ₹1,750 against the updated current market price (CMP) of ₹1,386.60, indicating a potential upside of 26.21%.
Bharti Airtel Share Price TargetBharti Airtel has a target price of ₹2,350 against the updated CMP of ₹1,972.10, suggesting a potential upside of 19.16%.
Sharekhan sees growth potential in the company’s expanding order book and demand for specialised energy infrastructure solutions.
Karnataka Bank Share Price TargetKarnataka Bank has a target price of ₹415 against the updated CMP of ₹305.80, indicating a potential upside of 35.71%.
9 Stocks To Buy For Diwali 2026: Sharekhan has picked nine stocks for Diwali 2026, including ICICI Bank, Bharti Airtel, Larsen & Toubro and Titan Company. The brokerage sees potential upside of up to 41.45%.
9 Stocks To Buy For Diwali 2026: Mirae Asset Sharekhan has picked nine stocks across banking, capital goods, cement, jewellery, telecom and consumer sectors in its Diwali Picks 2026 report for Samvat 2083. Based on the updated market prices used in this article and the brokerage’s target prices, the stocks offer potential upside of up to 41.45%. The list includes DEE Development Engineers, Karnataka Bank, ICICI Bank, Larsen & Toubro, UltraTech Cement, Titan Company, Bharti Airtel, Radico Khaitan and Tata Consumer Products. Here are the brokerage’s target prices and the key factors supporting its outlook for each stock.
ICICI Bank Share Price Target
ICICI Bank has a target price of ₹1,750 against the updated current market price (CMP) of ₹1,386.60, indicating a potential upside of 26.21%.
Sharekhan’s positive outlook is supported by strong loan and deposit growth and improving asset quality. In Q2 FY27, advances grew 30% year on year, while deposits rose 27.1%. Net interest income increased 17.7%, and net profit climbed 20.1% to ₹14,843 crore.
The bank’s capital position and provisions also provide a cushion against potential stress. Sharekhan expects earnings growth to support returns, with net interest margins potentially recovering in the coming quarters.
Bharti Airtel Share Price Target
Bharti Airtel has a target price of ₹2,350 against the updated CMP of ₹1,972.10, suggesting a potential upside of 19.16%.
Rising average revenue per user (ARPU), premium plans and higher data consumption underpin Sharekhan’s outlook. Airtel’s India wireless ARPU rose 5.4% year on year to ₹264, supported by customers upgrading to higher-value plans, smartphone adoption and postpaid additions.
Growth in Africa, expanding 4G and 5G usage and increasing demand for digital financial services offer further opportunities. Sharekhan also sees scope for continued ARPU growth as customers move towards higher-value services.
DEE Development Engineers Share Price Target
DEE Development Engineers has a target price of ₹750 against the updated CMP of ₹530.20, implying a potential upside of 41.45%.
Sharekhan sees growth potential in the company’s expanding order book and demand for specialised energy infrastructure solutions. Its order book stood at ₹2,531 crore in September 2026, roughly twice its FY26 revenue. The company is targeting order inflows of ₹2,000 crore in FY27, including around ₹900 crore secured in the first half.
Demand from global equipment manufacturers, including GE Vernova, Nooter/Eriksen and Siemens, could support future orders. A proposed gas turbine piping arrangement with Siemens also offers an opportunity for additional business if it translates into orders.
Karnataka Bank Share Price Target
Karnataka Bank has a target price of ₹415 against the updated CMP of ₹305.80, indicating a potential upside of 35.71%.
Sharekhan sees scope for stronger earnings as the bank expands lending and improves profitability. Its outlook factors in loan growth guidance of 15-20%, net interest margins above 3% and an improvement in return on assets.
Valuations are another part of the brokerage’s rationale. Karnataka Bank trades at a discount to several comparable lenders, which could leave room for a re-rating if loan growth and returns improve as expected.
Larsen & Toubro Share Price Target
Larsen & Toubro (L&T) has a target price of ₹4,700 against the updated CMP of ₹3,837.10, suggesting a potential upside of 22.49%.
A strong order book and a healthy project pipeline support Sharekhan’s outlook on the engineering and construction major. L&T’s order book stood at a record ₹8.54 lakh crore, up 15% year on year, with domestic private-sector projects accounting for 45% of the total.
Order inflows rose 28% year on year to ₹1.47 lakh crore in Q2 FY27. Opportunities across infrastructure, oil and gas and power transmission, along with a pipeline of about ₹10 lakh crore for the remainder of FY27, could support future revenue growth.
UltraTech Cement Share Price Target
UltraTech Cement has a target price of ₹13,500 against the updated CMP of ₹11,175, indicating a potential upside of 20.81%.
Sharekhan’s outlook rests on capacity expansion, volume growth and improving operating efficiency. UltraTech’s domestic cement capacity reached 205 million tonnes per annum (MTPA) after an addition of 4.6 MTPA in September. It aims to raise capacity to 240 MTPA by March 2028.
The company has guided for double-digit volume growth in FY27, compared with estimated industry growth of 7-8%. Grey cement volumes grew 13.8% in Q2 FY27. Sharekhan also highlighted UltraTech’s target of raising EBITDA to ₹1,400 per tonne by March 2028, from ₹974 per tonne in Q2 FY27.
Titan Company Share Price Target
Titan Company has a target price of ₹5,287 against the updated CMP of ₹4,434, suggesting a potential upside of 19.24%.
Sharekhan sees opportunities in jewellery, watches and eyecare, supported by premiumisation and the expansion of organised retail. Titan’s consumer businesses grew around 25% year on year in Q2 FY27, while its retail network expanded to 3,758 stores after 78 net additions.
Its domestic jewellery business grew 21%, with Tanishq, Mia, Zoya, beYon and CaratLane contributing to growth. The brokerage also sees scope for market-share gains, demand for studded jewellery and expansion across price points.
Radico Khaitan Share Price Target
Radico Khaitan has a target price of ₹5,012 against the updated CMP of ₹4,235, indicating a potential upside of 18.35%.
Premium liquor demand, vodka growth and stronger margins support Sharekhan’s outlook. Vodka volumes rose 49% year on year to 2.96 million cases in Q2 FY27, while premium whisky brands such as 8PM Premium Black and After Dark Blue gained traction.
Gross margins increased 440 basis points year on year to 48%, helped by a richer product mix and lower-cost grain inventory. Management raised its FY27 volume growth guidance for its Prestige and Above portfolio to 30% and retained its target of around 20% EBITDA margin.
Sharekhan also noted that net debt had fallen to ₹175 crore, with the company expecting to become net debt-free in the second half of FY27.
Tata Consumer Products Share Price Target
Tata Consumer Products has a target price of ₹1,197 against the updated CMP of ₹1,021, implying a potential upside of 17.24%.
Sharekhan sees growth opportunities in the company’s higher-growth businesses and scope for improved margins. Tata Sampann, ready-to-drink products, Capital Foods and Organic India grew 40% year on year in the first half of FY27, contributing 38% of India revenue.
In Q2 FY27, revenue rose 14% year on year to ₹5,661.1 crore, supported by 11% underlying volume growth in India. EBITDA increased 16.6% to ₹783.2 crore, while the EBITDA margin improved by 31 basis points to 13.8%.
The brokerage expects price increases to support margins in the India business. Improving international profitability, easing coffee costs and a recovery at Tata Starbucks could also help earnings.
