From JSW Energy To Coforge: Axis Securities’ Muhurat Picks For 2025; 9 Stocks Set To Shine In Samvat 2082

With the aim of significantly contributing to the growth and success of your investment portfolio, the brokerage company Axis Securities has announced its Diwali Muhurat Picks for the year on the auspicious celebration of Samvat 2082. For the first time since the Covid-19 era, the Indian equity market underperformed global and emerging markets in Samvat 2081. However, following a market recovery from the February 25 bottom, Samvat 2082 is expected to be a significant and closely watched year for the Indian economy.

Market Outlook

"Samvat 2082 is poised to be an eventful and closely watched year for the Indian economy. Despite prevailing external headwinds, India's domestic growth momentum remains resilient. Key macroeconomic indicators point toward a stronger performance in FY26 compared to FY25, with early projections suggesting an even more robust outlook for FY27. Both the RBI and the government are providing support to the Indian economy by front-loading pro-growth fiscal and monetary measures," said the research analysts of Axis Securities.

These include a) A 50 bps CRR cut in Dec'24, b) A 100 bps rate cut till now, c) Improved bank liquidity, d) The RBI Dividend, e) A consumption boost provided in the budget, and f) An uptick in the government CAPEX spending. On top of this, the government has implemented GST 2.0 reforms. These developments collectively indicate that our economy is at an inflexion point and will gain benefits going forward, as per the brokerage.

Diwali 2025 Stock Picks

Axis Securities' Diwali picks are Kotak Mahindra Bank, Federal Bank, JSW Energy, Coforge Ltd, DOMs Industries, Chalet Hotel, Rainbow Children's Medicare, Minda Corp, and KEC International.

Rainbow Children's Medicare

CMP: Rs 1,320, Target: Rs 1,625, Upside: 23%

"Rainbow is well-positioned to deliver healthy growth, supported by strong occupancy trends in mature hospitals, improving contributions from new hospitals, and its focused specialisation in paediatrics and maternity care. The company's hub-and-spoke model provides scalability, while its asset-light expansion strategy ensures efficient capital deployment. Margin expansion is expected as new hospitals mature and operating leverage strengthens. We expect double-digit revenue growth with sustained ~32-33% EBITDA margins over the medium term, backedby disciplined execution and favourable industry tailwinds," said the research analysts of Axis Securities.

DOMS Industries

CMP: Rs 2,556, Target: Rs 3,110, Upside (%): 22%

"DOMS' growth is supported by its 44-acre greenfield facility, expansion into pens, bags, toys, and diapers, and a distribution push toward 33.5 Lc outlets. The FILA partnership adds global reach and R&D strength. These initiatives underpin our FY25-28E Revenue/EBITDA/PAT CAGR of 23%/22%/25%," commented the research analysts of Axis Securities.

KEC International

CMP: Rs 855, Target: Rs 1,030, Upside (%): 20%

"KEC has a well-diversified and robust order book and an L1 position, providing healthy revenue visibility for the next 18-24 months. Moreover, the government's emphasis on T&D (Transmission & Distribution), focus on Civil and Urban Infrastructure, bodes well for the company moving forward," stated Axis Securities.

Chalet Hotels

CMP: Rs 941, Target: Rs 1,120, Upside (%): 19%

Commenting on the outlook of the stock, Axis Securities said, "Chalet Hotels is well-positioned for sustainable growth, supported by its diversified portfolio and healthy cash flows from commercial assets. The company expects to generate ~Rs 300 Cr from the sale of remaining residential units, which will be deployed towards hospitality and commercial expansion, including the Taj at Delhi Airport, enhancing returns. With strong brand partnerships, strategic locations, and favourable industry tailwinds, Chalet is expected to deliver robust occupancy, ARR growth, and long-term value creation."

Minda Corp

CMP: Rs 582, Target: Rs 690, Upside: 19%

"Minda Corporation is evolving from a conventional auto component manufacturer into a high-value, technology-driven mobility solutions provider. The company is backed by strong financials, sticky OEM relationships, rising profit contribution from Associates (notably Flash Electronics), and well-defined growth levers across both EV and ICE segments, making it a compelling long-term compounding opportunity. The outlook remains positive, supported by robust new order wins, a strong order book, and management's confidence in outperforming industry growth through both organic and inorganic initiatives. Over FY25-28E, Revenue/EBITDA/PAT is expected to grow at a CAGR of 13%/16%/22%, respectively," Axis Securities highlighted.

Kotak Mahindra Bank

CMP: Rs 2,145, Target: Rs 2,500, Upside: 17%

Improving growth trajectory with pick-up in unsecured segments, asset quality improvement, outperformance on NIMs in a declining interest rate cycle and healthy RoA profile are the rationale behind the pick as per Axis Securities.

Federal Bank

CMP: Rs 207, Target: Rs 207, Upside: 16%

Improving growth trajectory, NIMs to bottom out in Q2; improvement thereon, steady asset quality metrics and levers to improve RoA present are the rationale behind the pick according to Axis Securities.

JSW Energy

CMP: Rs 543, Target: Rs 625, Upside: 15%

"The stock is trading at 14x 12-month forward consensus EV/EBITDA against the industry average of 12x. We recommend a BUY rating on the stock with a TP at Rs 625/share, implying an upside potential of 15% from the CMP," said Axis Securities in a note.
Inorganic growth focus, good execution track record, focus on energy storage and strategy 3.0 targets are the rationale behind the stock pick by Axis Securities.

Coforge

CMP: Rs 1,720, Target: Rs 1,980, Upside: 15%

"Coforge is well-positioned for growth, given its multiple long-term contracts with leading global brands. The company maintains a positive outlook, expecting recent deal wins to drive revenue growth. The management remains committed to setting new benchmarks in the evolving industry landscape. We believe that the company remains on track to meet its long-term guidance and expect a CAGR of 25%/39%/40% for Revenue/EBIT/PAT over FY25-27E. The stock is currently trading at 40x and 31x FY26E/FY27E EPS," commented the research analysts of Axis Securities.

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