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2h ago

Diwali Picks and Q2 Results Steer India Stocks as LG India Lists and CCI Clears Vedanta–Jaypee Deal

Broker festive picks signal optimism on index gains into 2026, reflecting a market turning selective on fresh Q2 results.

Reliance Industries RIL Q2
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According to YES Securities, net profit is likely to fall 9.5% year on year to Rs 6,257 crore but rise 7.8% on a sequential basis.
The brokerage's list includes FSN E-Commerce Ventures (Nykaa), Swiggy, Divi's Laboratories, Bajaj Finance, State Bank of India (SBI) and SBI Cards and Payment Services.

Overview

  • Brokerages rolled out Diwali lists for Samvat 2082, with ICICI Securities projecting Nifty 27,000 by next Diwali and Choice Broking targeting 26,500–28,000 by Diwali 2026.
  • Axis Securities named nine festive buys, Kotak Securities outlined seven preferred stocks, and Nirmal Bang flagged eight picks with up to 52% implied upside based on targets.
  • An active Q2 FY26 slate has 50 companies reporting today, including Axis Bank, HDFC Life, Angel One and Tata Communications, following mixed IT prints and stronger insurance results.
  • Stock moves reflected dispersion: Persistent Systems jumped on double‑digit profit growth, ICICI Lombard rallied on an 18% profit rise, and Tech Mahindra eased after a cautious outlook.
  • LG Electronics India extended gains after a high‑premium debut, and the competition regulator approved Vedanta’s acquisition of Jaiprakash Associates, removing a key deal hurdle.