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The one-hour <keyword id="23618998" type="General" weightage="100" keywordseo="Muhurat-trading" source="keywords">muhurat trading</keyword> session, which marks <keyword id="20963892" type="General" weightage="20" keywordseo="Diwali-2024" source="keywords">Diwali 2024</keyword> and the onset of Hindu Samvat 2081 on both NSE and BSE, is set to commence at 6 pm today and will conclude at 7 pm. Generally, investors and traders make symbolic stock buys during this hour-long session, since it is believed that purchases made during this time herald wealth and prosperity for one’s investments for the year to come. If you are looking for <keyword id="19910146" type="General" weightage="20" keywordseo="stock-recommendations" source="keywords">stock recommendations</keyword> to add to your portfolio, here are a few value picks by SAMCO and Kotak Securities you can consider: <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> Ltd Holding period: 1 year Last Traded Price: Rs 1,734.30 Per the firm, “The bank has maintained a robust 10-year profit CAGR of 21.74%, operating with a NIM (net interest margin) of 3.5% and a low net NPA (non-performing assets) of 0.3%. Advances and deposits have shown steady growth. Currently, the stock trades below its 10-year average price-to-book value and at a price-to-earnings ratio of 19, offering a favorable risk-reward profile with a substantial downside buffer”. <keyword id="22086440" type="General" weightage="20" keywordseo="Vindhya-Telelinks" source="keywords" meta.keywordsubtype="org" meta.entityname="Vindhya Telelinks" meta.hostid="261" meta.entityid="Vindhya Telelinks">Vindhya Telelinks</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 1,992.55 SAMCO notes that this key cable manufacturing, which is a joint venture between Universal Cables Limited and Madhya Pradesh State Industrial Development Corporation, has shown robust growth over the last 5 years, nearly doubling revenues with a 14.3% CAGR. The company holds significant investments in Birla Cable Ltd, Birla Corporation Ltd, and Universal Cable Ltd, totaling Rs 3,618 crore—surpassing its market capitalization of Rs 2,545 crore. This solid investment base underscores Vindhya Telelinks’ strong fundamentals and financial potential. <keyword id="23763358" type="General" weightage="20" keywordseo="Ramco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ramco Industries" meta.hostid="261" meta.entityid="Ramco Industries">Ramco Industries</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 244.89 SAMCO observes that over the past decade, sales grew at a 7% CAGR, while the share price rose at a 14% CAGR. Known for its financial stability, Ramco Industries boasts a low debt-equity ratio of 0.07 and has consistently paid dividends since FY17, currently yielding 0.31%. The stock’s attractive price-to-book multiple of 0.5 offers a solid margin of safety, highlighting its investment appeal. <keyword id="22786675" type="General" weightage="20" keywordseo="Gravita-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Gravita India" meta.hostid="261" meta.entityid="Gravita India">Gravita India</keyword> Holding Period: 12 months Last Traded Price: Rs 2,119 Kotak explains that Gravita India is the market leader in India’s emerging recycling industry with a focus on lead recycling. Gravita India is increasing its recycling capacity by a massive 72% to 500 ktpa by FY27E. “We expect the company’s earnings per share to grow by 31.8% in FY25E &amp; 31.6% in FY26E. We also expect an upside of 15% or more on this stock over the next 12 months”, adds Kotak’s note. <keyword id="23763359" type="General" weightage="20" keywordseo="S-H-Kelkar" source="keywords" meta.keywordsubtype="org" meta.entityname="S H Kelkar" meta.hostid="261" meta.entityid="S H Kelkar">S H Kelkar</keyword> and Company (SHKL) Holding Period: 12 months Last Traded Price: Rs 289.90 The company is a flavors &amp; fragrances (F&amp;F) supplier and has started to make inroads into the global market. SHK is well-placed to drive double-digit revenue growth. The company is a small but emerging contender in the vast F&amp;F market, with potential for margin expansion—higher-margin geographies &amp; operating leverage—allowing for over 15% return upside in the next 12 months. Kotak Securities further notes that FY25 will likely see more broad-based growth across sectors. However, the OMCs (oil marketing companies) may likely drag down overall profits. Most sectors and stocks are quite overvalued, with the degree of overvaluation ranging from: (1) low for most large-cap consumers, IT services, and pharmaceuticals (2) medium in the investment space (3) high in the case of several low-quality companies. "As the broader market valuations are rich, opportunities arising from market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective," explains the research firm's note. SAMCO further advises adding a little glitter to your portfolio using GoldBees and SilverBees ETFs since there are recessionary fears in the US and geopolitical tensions across the world. Even central bankers like RBI have been adding gold to their vaults like never before. At present, markets are looking to secure their return on capital rather than seeking a return on capital. "Thus all of these make a strong case to add gold and silver to the portfolio. They will give stability to your portfolio this Samvat," adds SAMCO's note.

Muhurat trading 2024: 5 stock picks you can consider this time around

Both indices, <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword>, opened the day in green, with <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> trading at 24,272.75 points, up by 0.62% and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> at 79,946.33 points, up by 0.63% as of 11:08 am. Sensex also touched an intraday high of 80074.3 points during morning trade, a historic first for the index. As for broad market indices, all of them opened in green, except for India VIX, which was 0.62% down. For sectoral indices, Nifty Bank, <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, and private banks gathered a healthy lead of 1%, while <keyword id="20051327" type="General" weightage="20" keywordseo="oil-and-gas" source="keywords">oil and gas</keyword> and IT were among the laggards. <keyword id="19896378" type="General" weightage="20" keywordseo="HDFC" source="keywords">HDFC</keyword>, Axis, ICICI, <keyword id="19957746" type="General" weightage="20" keywordseo="Kotak-Bank" source="keywords">Kotak Bank</keyword>, and Britannia were among the early gainers on the market today, while TCS, UltraTech Cement, Tata Motors, Maruti, and Power Grid Corporation lost ground during early morning trade today. <keyword id="6357149" type="General" weightage="20" keywordseo="HDFC-Bank" source="Orion">HDFC Bank</keyword> took the lead and was up by 3.25%, in anticipation of the stock's weightage being increased in the MSCI index, which would mean higher inflows of about $4 billion for passive investors. <h2>Market in Action </h2>As per Mr. Aditya Gaggar, Director of Progressive Shares, "under the leadership of IT counters, Indian bourses settled the monthly expiry day at yet another record level of 24,045. The overall trend of Nifty50 is strong but buying on dips will be an ideal strategy. Now, the immediate hurdle is placed at 24,240, while the level of 23,800 will act as strong support". "The <keyword id="19916570" type="General" weightage="20" keywordseo="IT-sector" source="keywords">IT sector</keyword> has convincingly surpassed its previous resistance, which indicates a continuation of the current upmove, and to validate the momentum, some of the components have given a strong breakout. We continue to hold our bullish stance on the agro/specialty chemicals counters. The mid and small caps have been oscillating in a well-maintained range, awaiting a strong breakout," he noted. As Sameet Chavan, Head Research, Technical, and Derivatives, Angel One said, "After a sustained period of bullish dominance, there is now a more balanced market sentiment, reflecting a potential sense of exhaustion following the recent rally. Technically, the 24,250 zone showed signs of resilience, which could be seen as an intermediate obstacle for the bulls to overcome. On the lower end, the pivotal level of 24,000 still holds significant importance, and a decisive breach could trigger some correction in the near future, with immediate downside support at 23800". "The overbought conditions and recent hesitation at the elevated zone could be seen as an initial signal for a cooldown. Therefore, it's crucial to implement proper risk management strategies at current levels. Thematic trends continue to exert a strong influence in the current market. Day traders can benefit from identifying and addressing these trends, as they offer ample opportunities for outperformance. Simultaneously, it is essential to keep a watchful eye on global markets, as they are expected to set the initial tone for our domestic market," he noted. Patanjali Foods Ltd. announced its acquisition of Patanjali Ayurveda's personal care business, Patanjali Ayurved, for Rs 1,100 crore. Per the filing, the board has approved the acquisition of the company's entire non-food business, which includes hair, skin, dental, and home care. The stock was trading at Rs 1,654.25, down by 0.4%.

Stock market today: Sensex tops 80,000 for the first time; HDFC and Kotak Bank take lead

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Muhurat trading 2024: 5 stock picks you can consider this time around

Ira Alok Puranik

Stock market today: Sensex tops 80,000 for the first time; HDFC and Kotak Bank take lead

Ira Alok Puranik

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