Diwali Dhamaka Picks: Paytm, Adani Green Among 8 Stocks That Could Turn Rs 1 Lac Into Rs 2.2 Lac In 24 Months

Ventura Securities has revealed its special festive investment strategy, which consists of seven high-conviction stocks, as Diwali 2025 draws near. Ventura's Diwali 2025 portfolio may be the doorway to wealth creation, regardless of whether you're a long-term investor or planning your Muhurat trading strategy during the festive period.

The brokerage is bullish on companies like Paytm, Adani Green, Ambuja Cement & more with multibagger targets. The upside potential of each stock in this Diwali basket ranges from 35% to 120%, meaning that investors may be able to turn Rs 1 lakh into Rs 2.2 lakh over the course of the following 24 months.

Diwali 2025 Stock Picks

Below are the top 8 Diwali stock picks 2025 by Ventura Securities with potential upside up to 120.2%.

Ambuja Cements

The Indian cement industry is undergoing rapid consolidation as major players expand their dominance to capture market share and enhance economies of scale. Since its acquisition by the Adani Group, ACEM has aggressively expanded its cement production capacity from 67.5 MTPA in September 2022 to 105 MTPA in June 2025.

"With FutureX initiatives, capacity expansion & cost optimization strategies, ACEM is well positioned to capitalize on infrastructure growth story. We recommend BUY with a price target of INR 794 (12.2X FY28 EV/EBITDA), representing an upside of 39.8%," said Ventura Securities in a report.

Royal Orchid Hotels

India's hotel industry is undergoing a structural shift, driven by demand-supply gap, rising domestic travel, pro-growth policies, and accelerating demand for businessoriented stays. ROHL, an Indian hospitality brand, is well-positioned to capitalize on India's evolving hospitality landscape, and the company is transforming into a technology-driven, asset-light hotel chain.

"At the CMP of INR515, ROHL is trading at FY28 P/E of 15.8X. We recommend BUY with a DCF price target of INR700 (21.4X FY28 P/E), representing an upside of 35.9%," commented the research analysts of Ventura Securities.

Adani Green Energy

AGEL stands at the forefront of India's renewable energy revolution, having reached a significant operational milestone of 15.8 GW as of June 2025, making it the nation's largest and fastest-growing pure-play renewable energy company. AGEL added 4,882 MW of green power capacities in the past 12 months, and Khavda accounted for 73.4% of this addition (3,582 MW), taking its installed base to 5.6 GW (~35.4% of total capacity).

The 30 GW Khavda project (spread over 538 sq. km) will be completed by 2030, contributing ~60% of AGEL's targeted capacity. AGEL is selective in bidding for new tenders, focusing on predictable and better returns given its significant locked-in capacity towards the 50 GW target. Of the approximately 36.5 GW total capacity, 31.5 GW is currently under PPA.

"At CMP of INR 1,064, we recommend BUY for AGEL with a price target of INR 2,142 (22.9X FY27 EV/EBITDA), representing an upside of 101.3%," Ventura Securities recommended.

One 97 Communications Ltd

Since the brokerage's initiating coverage on Paytm in Aug 2024, the company has significantly improved its business position, achieving profitability and strong revenue growth through operational and strategic shifts. Paytm's merchant base grew from 40.7 mn in Q1FY25 to 45 mn in Q1FY26, sustaining Paytm's leadership in the industry, while payment GMV climbed from INR 4,210 bn to INR 5,341 bn over the same period.

"At the CMP of INR 1,237, Paytm is trading at FY28 P/E of 36.9X. We recommend BUY with a DCF based price target of INR 2,074 (61.8X FY28 P/E), representing an upside of 61.8%," said Ventura Securities.

V-Mart Retail Ltd

India's retail apparel market is set for robust expansion, projected to grow from INR 6,846 bn in 2024 to INR 10,682 bn by 2027, at a CAGR of 16.0%. This growth is further fueled by recent reductions in GST rates, income tax cuts, and favorable monsoon conditions, which are collectively driving increased consumer purchasing power and demand for fashion. As one of India's top 10 apparel retailers, V-Mart Retail is well-positioned to capitalize on the structural tailwinds driving growth in Tier 2 to Tier 4 cities.

"We initiate coverage with a Buy for a DCF-based price target of INR 1,069 (77.6 FY28 P/E), representing an upside of 47.4% from the current CMP of INR 855 over the next 24 months. With V-Mart trading at historical lows, we consider this a low-risk buy, positioning it well for significant upside potential as it capitalizes on the growing apparel market and macroeconomic tailwinds," Ventura Securities commented.

Capri Global Capital

Capri Global Capital Ltd. (CGCL) is a resilient, growth-focused lender with a diversified and secured loan portfolio, anchored by high-yield segments like gold loans (37% of AUM with yield of ~21% ), MSME (22% of AUM with yield of ~17%), housing finance (22% of AUM with yield of ~13%), and construction finance (18% of AUM with yield of ~17.3%). With gold loans yielding 21%, CGCL has seen strong profitability and asset quality, maintaining NPAs below 2%.

"We initiate coverage with a BUY rating and a price target of INR 274 (2.8X FY28E P/ABV), representing an upside of 44.2% of the CMP of INR 190 over the next 24 months. Key Risk: As CGCL runs a fully floating book, it bears the risk of interest rates increasing, which will lead to a decrease in NIM. Increase in delinquencies will increase credit costs and compress profit margin," commented the research analysts of Ventura Securities.

Hindustan Construction Co

India's FY26 infrastructure capex allocation of INR 11.2 trillion (+10.2% YoY) across railways, roads, defence, energy, and urban development provides a strong multi-year growth runway for EPC companies. With over a century of execution experience and proven technical expertise in hydro, tunneling, nuclear, metro, and transport projects, HCC stands well-positioned to benefit from this sectoral tailwind.

"At the CMP of INR 28.9, the stock is trading at FY28 EV/EBITDA of 12.2X. We recommend BUY with price target of INR 64, representing an upside of 120.2% over the next 24 months. Key Risks - Low Promoter's Holding Disclosure: In the Profit and Loss - Exceptional item incorporates Steiner AG receivables of INR 1,100 cr and Awards Receivables of INR 2,000 cr; valuation has been computed factoring the prospective ~INR 900 cr rights issue. • Claims Receivables amounting to INR 7,000 cr have not been considered in the model as they remain subject to tribunal outcome with no defined timeline," as per the brokerage.

Transformers & Rectifiers (India)

The government is focused on expanding India's power infrastructure by increasing power generation capacity from 485 GW to 900 GW by 2030, reflecting a CAGR of 13.9%. This growth will necessitate a transformation capacity of 2,700 GVA by 2030, a 15.4% CAGR from the current 1,370 GVA.

"At the CMP of INR491, TARIL is trading at FY28 P/E of 15.2X. We recommend BUY with a DCF price target of INR757 (23.5X FY28 P/E), representing an upside of 54.2%," according to Ventura Securities.

Disclaimer

The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.