Diwali picks BSE, Adani Power, MCX, TechM, HFCL among top stocks for Samvat 2083 for upto 110% rally

Samco Securities has selected 10 stock picks for Samvat 2083 across power, capital-market infrastructure, IT services, aerospace and defence, data-centre and telecom equipment, music and automobiles. Building on its rule-based approach during Samvat 2082’s market volatility, the brokerage emphasises disciplined profit-booking and stop-losses. It advises investors to follow risk-management levels, noting that targets and recommendations may change with market conditions. Here are top picks by Samco with up to 110 per cent upside potential:

Adani Power | Buy | Target Price: Rs 318.85 | Stop Loss: Rs 162.70

Fundamental view: Q2FY27 was a record quarter. Consolidated profit after tax rose 141.5 per cent YoY to Rs 7,019 crore and revenue grew 44.5 per cent to Rs 19,439 crore. The revenue figure includes about Rs 2,422 crore of prior-period income from revised Gujarat tariff terms, but the underlying business was also strong: power sales rose to 26.4 billion units from 23.7 billion, and plant load factor improved to 70.1 per cent from 62.8 per cent. India's power demand grew 11.5% in the quarter, helped by strong economic activity and a weak monsoon.
Technical View: Adani Power Ltd has corrected from its high of Rs 254 and is now consolidating around its 200-day moving average (Rs 192), with support in the Rs 175-180 zone. The daily RSI at 45 is neutral, leaving room for the next leg up. We recommend buying in the range of Rs 186-192 with a stop loss of Rs 162.70 and a target of Rs 318.85 over one year.

BSE | Buy | Target Price: Rs 5,441 | Stop Loss: Rs 2,810

Fundamental view: BSE Ltd has turned into one of the most profitable businesses in Indian capital markets. In Q1FY27 revenue from operations rose 63 per cent to Rs 1,566 crore and consolidated net profit rose 62 per cent to about Rs 874 crore, with operating margins of roughly two-thirds of revenue. Net profit has risen for four quarters in a row. Exchanges have very high operating leverage - most costs are fixed, so additional volume flows almost entirely to profit. Since an exchange cannot list on its own platform, the shares of its rival NSE, listed on 24 September 2026, trade only on BSE. If NSE shares become eligible for the futures and options segment, those contracts would also trade only on BSE, which could help revive BSE's largely dormant single-stock derivatives segment.
Technical view: BSE appears to be in an accumulation phase near its 50-week EMA. The recent correction from Rs 4,447 to about Rs 3,000 was in line with its historical corrections of roughly 30% over 7-15 weeks, and looks complete in both price and time. The stock has since reclaimed both its 50-day (Rs 3,300) and 200-day (Rs 3,369) moving averages, and a bullish crossover in the weekly RSI supports a resumption of the primary uptrend. We recommend buying in the range of Rs 3,455-3,565 with a stop loss of Rs 2,810 and a target of Rs 5,441 over one year.

Tech Mahindra | Buy | Target Price: Rs 2,905 | Stop Loss: Rs 1,493

Fundamental view: The turnaround is visible in the numbers. In Q2FY27 revenue rose 15.6 per cent to Rs 16,180 crore, EBIT margin expanded 260 basis points year-on-year to 14.8 per cent - the 12th consecutive quarter of margin expansion - and net profit rose 32.7 per cent to Rs 1,586 crore. New deal wins were $1.02 billion, the fourth straight quarter above $1 billion, taking trailing twelve-month wins to $4.27 billion. Management is targeting a 15 per cent EBIT margin for FY27. As a dollar earner, the company also benefits from a weaker rupee.
Technical view: Tech Mahindra Ltd broke out of the Rs 1,450-1,650 range it had been stuck in for most of the past year after its Q2 results, and is trading close to its 52-week high of Rs 1,854. It is well above its 50-day and 200-day moving averages, and the old resistance zone of Rs 1,650-1,700 should now act as support. We recommend buying in the range of Rs 1,760-1,820 with a stop loss of Rs 1,492.80 and a target of Rs 2,904.50 over one year.

Azad Engineering | Buy | Target Price: Rs 5,108 | Stop Loss: Rs 2,222

Fundamental view: Azad's order book stands at about Rs 6,500 crore, with deliveries spread over five to six years- many times its annual revenue. Management expects revenue to grow at more than 25 per cent a year for several years. In Q1 FY27, consolidated revenue rose 26 per cent YoY and standalone profit after tax rose 21 per cent to Rs 36 crore, with an EBITDA margin of 37.6 per cent. Demand for gas turbines to power data centres is an important new tailwind, and the company also reported a milestone in turbojet engine development during the quarter.
Technical view: After a strong run from Rs 1,400 to Rs 3,128 between April and October, Azad has corrected about 22 per cent and is testing the Rs 2,400-2,450 breakout zone from July. It remains comfortably above its rising 200-day moving average, and the RSI near 35 shows the stock is close to oversold. With the stop loss only 9 per cent below the current price and a target more than double, this is the best reward-to-risk call in our basket. We recommend buying in the range of Rs 2,405-2,485 with a stop loss of Rs 2,221.55 and a target of Rs 5,108 over one year.

HFCL | Buy | Target Price: Rs 381.10 | Stop Loss: Rs 180.25

Fundamental view: Q2FY27 was HFCL's best quarter ever. Revenue rose 144 per cent to Rs 2,542 crore, EBITDA margin expanded 640 basis points to 25.9 per cent, and net profit rose 448 per cent to Rs 394 crore. The order book has grown from Rs 21,206 crore at the end of FY26 to Rs 28,911 crore, with 64 per cent coming from optical fibre and data-centre interconnect and 57 per cent from exports. Management now expects revenue to grow at least 80 per cent in FY27, and is investing about Rs 215 crore in a new AI data-centre connectivity facility.
Technical view: HFCL Ltd has been one of the strongest stocks of the year, up about 206 per cent over twelve months. Since peaking at Rs 282 it has been consolidating in the Rs 200-280 range, which is a healthy pause after such a sharp move. The stock remains far above its 200-day moving average and has support near Rs 191-200. We recommend buying in the range of Rs 227-235 with a stop loss of Rs 180.25 and a target of Rs 381.10 over one year.

Tips Music | Buy | Target Price: Rs 1,050 | Stop Loss: Rs 616

Fundamental view: In Q2FY27 revenue rose 35 per cent YoY to Rs 120 crore and profit after tax rose 23 per cent to Rs 65.5 crore. Margins eased to 70.5 per cent from 76 per cent because the company deliberately doubled its spending on new content, which builds future royalty income. Management is confident of beating its annual growth guidance. The business is debt-free and cash-rich, has recently completed a buyback, and declared an interim dividend of Rs 6.50 per share.
Technical view: Tips Music Ltd has risen about 21 per cent in the past month after its results and is trading just below its 52-week high of Rs 809, well above its 50-day and 200-day moving averages. It is also forming an inverse head-and-shoulders pattern on the weekly charts. Our recommendation from May 2026 is already up about 22 per cent. Fresh investors may accumulate in the range of Rs 770-794, preferably on dips, with a stop loss of Rs 616 and a target of Rs 1,050 over one year.

L&T Technology Services | Buy | Target Price: Rs 6,013 | Stop Loss: Rs 3,309

Fundamental view: Q2FY27 marked a clear pick-up. Revenue rose 12.1 per cent YoY and 3.4 per cent sequentially to Rs 3,040 crore, and EBIT margin expanded to 16.3 per cent, up 220 basis points from a year ago. Net profit of Rs 548 crore included a one-time gain of Rs 165 crore from selling a business. Large-deal wins exceeded $200 million, with more than half AI-related, and AI-led solutions are now running at $120 million a year. Management expects the second half of FY27 to be stronger than the first and aims for 13-15 per cent annual revenue growth with 16-17 per cent margins over the next five years.
Technical view: LTTS jumped about 15 per cent intraday on 21 October after its results and has broken out of the Rs 3,000-3,800 range it was stuck in for most of the year. The breakout is strong, but the stock is now about 22 per cent above its 50-day average with an RSI of 75, so we suggest buying in two tranches - half now and half on any pullback towards ₹3,900-4,000. Buying range for the first tranche is Rs 4,215-4,345, stop loss Rs 3,308.80, target Rs 6,013.45 over six months.

TVS Motor Company | Buy | Target Price: Rs 5,411 | Stop Loss: Rs 3,600

Fundamental view: TVS Motor Company Ltd delivered its best quarter on record in Q2FY27. Consolidated revenue rose 39 per cent to Rs 19,474 crore and profit after tax rose 46 per cent to Rs 1,219 crore on record sales of 1.92 million units. Growth was broad-based: electric two-wheeler sales more than doubled to 186,186 units, three-wheeler volumes rose 47 per cent and the international business grew 35 per cent. Revenue grew faster than volumes, indicating a better product mix. The board has also approved demerging the consumer finance business into a separately listed company on a 1:1 basis, which could unlock value by letting investors value the two businesses separately.
Technical view: The stock has been consolidating between Rs 3,740 and Rs 4,485 for the past three months while staying above both its 50-day and 200-day moving averages. A close above the Rs 4,485 high would signal the next leg of the uptrend. We recommend buying in the range of Rs 4,130-4,260 with a stop loss of Rs 3,600 and a target of Rs 5,411 over six months.

Multi Commodity Exchange of India | Buy | Target Price: Rs 3,836 | Stop Loss: Rs 2,750

Fundamental view: MCX is a direct beneficiary of the volatility that defined Samvat 2082. Sharp swings in crude oil, gold and silver drove record trading volumes. In Q1FY27, consolidated net profit rose 103 per cent YoY to Rs 413 crore on an 88 per cent rise in revenue to Rs 702 crore, following a record FY26 profit of Rs 1,332 crore. With crude, currencies and precious metals likely to remain volatile, trading activity should stay elevated.
Technical view: MCX hit an all-time high of Rs 3,481 and has since been consolidating between Rs 3,000 and Rs 3,480 around its 50-day moving average. It is well above its 200-day moving average, and a move above Rs 3,480 would mark a fresh breakout. We recommend buying in the range of Rs 3,140-3,240 with a stop loss of Rs 2,750.20 and a target of Rs 3,835.75 over three months.

Sansera Engineering | Buy | Target Price: Rs 4,966 | Stop Loss: Rs 3,559

Fundamental view: In Q1 FY27, revenue rose 33 per cent YoY to about Rs 1,021 crore and net profit rose 39 per cent  to Rs 87 crore, with EBITDA margin improving to 19.2 per cent. The ADS business has grown to about 14 per cent  of revenue, and international sales to about 40 per cent. Management expects high-teens to 2 per cent % revenue growth in FY27, with ADS revenue guided at Rs 550-600 crore.
Technical view: Sansera Engineering Ltd continues to trade within a rising channel. It has rebounded from a key support confluence near the lower channel boundary and its 50-day average, and is trying to reclaim its 20- day average. Previous resistance is now acting as support, and the RSI has bounced from the 40 level it has respected since January 2026 - both signs that the primary uptrend is resuming. We recommend buying in the range of Rs 4,045-4,175 with a stop loss of Rs 3,558.85 and a target of Rs 4,965.90 over three months.