Outlook Money
With the Indian equity market hitting new peaks in Samvat 2080, SEBI-registered Stock Broker Asit C. Mehta Investment Intermediates Limited has provided a list of stocks as Diwali picks for the upcoming Samvat 2081.
Out of the ten stocks, six were recommended primarily due to their fundamental strength, while four were after technical indicators. The six fundamentally sound stocks are Ador Welding Limited Capital Goods, CIE Automotive India Limited, Alicon Castalloy Limited, Astral Limited Plastic Products, ITD Cementation India Limited Infrastructure and J.Kumar Infraprojects Limited Infrastructure.
This is the second-largest player in the Domestic Welding Industry. Upcoming growth will be supported by government infrastructure investments and a revival in private capex. The company's strategy focuses on capital expenditure, benefiting from higher allocations for ports, roads, and the PLI scheme, which will boost demand for welding consumables.
This company benefits from strategic locations that allow for quicker market entry and improved cost efficiency. Their emphasis on innovation allows them to offer value-added products, such as BS-VI-compliant components and lightweight solutions.
The company is an international provider of automotive parts and sub-assemblies. In India, it boasts a robust order book worth Rs 1,000 Cr, with Rs 300 Cr dedicated to the electric vehicle segment.
It is a manufacturer of plumbing and drainage systems is now foraying into paints, faucets & sanitary ware and valves and Infrastructure. Demand from building materials like pipe, paint, sanitary ware, etc., which is expected to grow forward, AMCIIL says
Vedanta Limited was highlighted as a technical stock pick due to its rounding bottom pattern on the weekly chart, suggesting a possible rise to the 600-640 range. The 50-week exponential moving average provides support around 386, and maintaining above this level indicates a bullish trend.