Waaree Energies, HAL, Adani Ports among top Diwali picks for Samvat 2082; check targets

Over the last 12 months the Nifty 50 has shown very little net movement — broadly trading in a range and delivering a modest return on a yearly basis. This lacklustre headline return masks a lot of internal rotation: while headline indices have been range‑bound, mid‑ and small‑cap segments and several cyclical pockets saw meaningful bouts of outperformance and volatility. Domestic flows have remained an important price driver with retail participation steady and DIIs providing recurring support even as FII flows were net sellers for 8 out of 12 months.

"As we enter Samvat 2082, Indian markets continue to display resilience backed by strong domestic demand, robust corporate earnings, and steady macroeconomic conditions. For this Muhurat trading season, we have identified these five fundamentally strong stocks that are well-positioned to deliver superior returns over the next year," said Vertex Broking. Here are top stock picks from the brokerage firm:

Adani Ports & Special Economic Zone | Buy | Target Price: Rs 1,800 | Upside: 22%

Adani Ports continues to maintain its dominance in India’s port sector with over 25 per cent market share. It clocked 18 per cent YoY growth in cargo volumes during Q2FY25, supported by strong performance across all major ports. Triggers include expansion of container capacity, integration of logistics assets, and rising trade flows under India’s export growth story. With a diversified portfolio and improving cash flows, APSEZ remains a prime play on India’s logistics and infrastructure expansion.

Waaree Energies | Buy | Target Price: Rs 4,310 | Upside: 22%

Waaree Energies, India’s largest solar PV module manufacturer with over 12 GW capacity, stands at the forefront of India’s renewable energy expansion. Recent acquisitions, such as Enel Green Power India, and backward integration into solar cell manufacturing have significantly strengthened its market position. Supported by government incentives and India’s target of 500 GW renewable capacity by 2030, Waaree Energies is expected to benefit from sustained demand growth and policy-driven tailwinds. Strong execution capabilities and a robust order pipeline support the company’s long-term outlook combined with an attractive technical breakout which could be in play.

Hindustan Aeronautics | Buy | Target Price: Rs 6,470 | Upside: 33%

Hindustan Aeronautics (HAL) continues to deliver strong performance with an order book exceeding Rs 1.89 lakh crore, driven by Tejas, helicopters, and export opportunities. The company is a key beneficiary of India’s defense indigenization and rising defense capital expenditure. New orders for advanced aircraft systems and sustained government support for local manufacturing make HAL a steady compounder in the defense sector.

Coforge | Buy | Target Price: Rs 2,451 | Upside: 41%

Coforge has demonstrated consistent double-digit growth, outperforming peers in the mid-tier IT space. Its strong presence in BFSI and travel verticals, coupled with robust deal wins and digital transformation opportunities, provide revenue visibility despite global IT spending concerns. Margin stability and diversified clientele make Coforge a strong growth play for FY26.

Black Buck | Buy | Target Price: Rs 974 | Upside: 40%

Black Buck has positioned itself as a leading logistics technology player integrating transport, fleet management, and data-driven solutions with significant market share in multiple business segments. Government initiatives such as the Gati Shakti plan and National Logistics Policy are expected to enhance efficiency in the sector. With growing digitization and focus on organized logistics, Blackbuck is trading at attractive va wellplaced to benefit from India’s expanding logistics ecosystem and is our pick for a promising turnaround story.