Diwali 2024 Stock Pick: Investors who invest in the stock market on Diwali wait for the Diwali stock picks of brokerage houses, by investing in which they can make huge profits in the next one year. SBI Securities has released its top stock picks this Diwali which can give strong returns to investors. SBI Securities' Diwali stock picks include Coal India to Titagarh Railsystems and Bharti Hexacom. 

Coal India Top Pick

SBI Securities has chosen Coal India as the first stock under Diwali Picks 2024, which is the largest coal company in the public sector. The brokerage house has advised to buy Coal India shares near Rs 492 for a target of Rs 593, which can give a return of 20.5 percent.

Bullish on Macrotech Developers

The brokerage house is also bullish on the stock of Macrotech Developers and has advised to buy the stock for a price target of Rs 1398 or a jump of 20.4 percent. SBI Securities has asked to buy Bharti Hexacom shares for a return of 16 percent and a target of Rs 1747. 

Glaxo SmithKline Pharma can give huge returns 

SBI Securities is also bullish on pharma company Glaxosmithkline. This stock can give a return of 20.1 percent from the current level and a target price of Rs 3195 has been given which is currently trading at Rs 2659.

Nippon Life India AMC - Escorts Kubota is the top pick

The brokerage house is also bullish on Nippon Life India Asset Management and has advised to buy the stock for a target of Rs 825 which is 17.5 percent above the current price level. According to SBI Securities, Escorts Kubota stock can give a return of 15.5 percent from the current level and the stock can go up to Rs 4408. 

Chalet Hotels-Newgen Software Top Diwali Pick

The brokerage house is also bullish on the stock of Chalet Hotels and has a buy recommendation on the stock for a target price of Rs 1106 or a return of 26.7 per cent. SBI Securities is also bullish on the stock of Newgen Software Technologies and has a buy recommendation on the stock for a target of Rs 1475 which is 17.3 per cent above the current price level.

Bullish on Titagarh RailSystems

SBI Securities is also bullish on the stock of Titagarh Railsystems, which can give a return of 26.1 per cent in Samvat 2081 and the stock can go up to Rs 1510. 

PG Electroplast and Arvind Fashions are among the top picks 

SBI Securities has recommended buying the stock of PG Electroplast and this stock can go up to Rs 735 with a jump of 19.1 percent. The brokerage house is also bullish on the stock of Arvind Fashions and has advised to buy the stock for a target of Rs 725 with an upside of 20.7 percent. The stock of Kilburn Engineering is also on the radar of SBI Securities and this stock can go up to Rs 532 with a jump of 23.5 percent. 

It is important to save profits

In Samvat 2081, SBI Securities believes that this year will be a year of consolidation in which investors should have a strategy to protect their profits. According to the brokerage house, in the coming days, there is a need to keep an eye on the US presidential election, assembly elections in Maharashtra and Jharkhand in India, the meeting of global central banks in which RBI can also start the process of cutting interest rates. Then Budget 2025 will affect the market movement.