Diwali Muhurat Picks – SAMVAT 2081: 5 TATA Group Stocks To Buy For Prosperous Deepawali

Indian stock exchanges hold a unique, symbolic trading period known as muhurat trading during the festival of Diwali, which ushers in the Hindu New Year. Muhurat trading has deep cultural and symbolic significance and is more than just a trading event. Trading at this "auspicious hour" (Muhurat) is said to bring wealth, achievement, and good fortune. The session typically lasts one hour in the evening on Diwali day, from 6.15 PM to 7.15 PM, however, the precise times are determined by stock exchanges and alter somewhat every year. To commemorate the beginning of the Hindu calendar year Samvat 2081, the NSE and BSE stock exchanges will have their yearly Diwali Muhurat trading session on Friday, November 1, 2024, from 6:00 PM to 7:00 PM. In observance of Diwali, the market will not be open for normal trading, but there will be a one-hour special trading window. At 5:45 PM, the pre-opening will begin. These are the top Tata group stocks that analysts have recommended buying in the Diwali Muhurat Trading 2024 as we approach Samvat 2081.

TATA Investment Corp

CMP: Rs 6524.4, Target: Rs 7580, Recommended By: Way2Wealth Brokers

TATATINVEST holds a notable stake in Tata Group's companies like Tata Chemicals Ltd. (5.97%), Tata Consumer Products Ltd. (4.65%), Trent Ltd. (4.28%), Voltas Ltd. (3.01%), Titan Co. Ltd. (2.01%), Tata Elxsi Ltd. (1.69%), The Indian Hotels Co. Ltd. (1.26%), Tata Steel Ltd. (0.34%), Tata Motors Ltd. (0.3%), Tata Power Co. Ltd. (0.21%), Tata Consultancy Services Ltd. (0.03%). It also has stake in some of Tata Group's unlisted entities such as Tata Autocomp Systems Ltd., Tata Capital Ltd., Tata Industries Ltd., Tata Services Ltd., Tata Sons Pvt. Ltd., etc.

Tata Sons Ltd. was declared by RBI as an upper-layer NBFC and which makes it mandatory to get listed in primary markets by September 2025. While the group had requested the central banker to exempt it from the mandatory listing, recent reports suggest RBI to likely have turned down the plea. While there exists few other options such as repayment of borrowing or transferring the holding to Tata Capital or any other entity to get deregistered as core investment co. and upper-layer NBFC, any developments on the group's decision related to listing process can act as trigger for the stock price.

While any positive development on listing of Tata Sons Ltd. can be a good trigger for the company, fair value change in portfolio of listed as well as unlisted companies will drive its earnings performance, thus we include TATAINVEST at CMP Rs 6,524.4.

Tata Technologies

CMP: Rs 1011.5, Target: Rs 1180, Recommended By: Way2Wealth Brokers

The company has the right catalysts at play. Given the core industries need to revolutionize and upscale cutting-edge and innovative digital engineering solutions, TATATECH lies at the front and centre of this evolution. By expanding its client base and capabilities into aerospace, automotive, battery-tech, software based solutions and heavy machine engineering, TATATECH has built itself a resilient and robust business model that can not only operate independently and seamlessly outside of the parent group but also evolve with the industry. Given the strong fundamentals and outlook, we believe that at the CMP of Rs 1,011.5 - the stock will continue to demonstrate significant uptick.

Tata Power

Buy: Rs 440 and 422, Targets: Rs 553, Stop Loss: Rs 374, Recommended By: MasterTrust: Leading Stock Broker In India

Stock prices are trading in rising channel and currently drifting around lower range value which strengthens the case for U turn from the present juncture. The ongoing uptrend is further reinforced by the price holding above the 34-week and 55-week EMAs. Diminishing trading volume during corrections, coupled with the weekly RSI consistently holding above the 50 mark, reflects ongoing buyer strength and sustained demand. The MACD on the monthly chart is in a bullish trajectory, suggesting that the long-term uptrend remains intact, with the potential for further price appreciation and the formation of new higher highs.

Tata Elxsi

Buy: Rs 7220 and 6850, Targets: Rs 9130, Stop Loss: Rs 6060, Recommended By: MasterTrust: Leading Stock Broker In India

Stock prices are currently trading near the lower boundary of a symmetrical triangle, finding strong support around the 34-month which indicates a key level of stability. The monthly RSI remains above the 50 mark, signalling ongoing buyer strength, while diminishing trading volume during price corrections further reinforces this positive outlook. The current price level offers an appealing risk-reward ratio, with limited downside risk. Prices are expected to regain momentum and move toward the upper range of the symmetrical triangle.

Tata Motors

CMP: Rs 907, Target: Rs 1225, Stop Loss: Rs 770, Recommended By: Prabhudas Lilladher

The stock has witnessed a decent erosion since the last one month from the peak zone of 1142 to move below the important 200 period MA of 960 to currently consolidate and take support near the 915 level of the long-term trendline zone. The RSI has almost arrived near the oversold zone and has been hovering near this area for quite some time with a gradual rise visible to improve the bias. With the risk-reward favorable and the chart technically looking very attractive, we anticipate for further rise and suggest buying the stock for an upside positional target of 1225 keeping the stop loss at 770 level.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.