HDFC Securities' Top Picks For Diwali: Ashish Dhawan-Backed Multibagger Small Cap Stock


Domestic brokerage firm HDFC Securities released its top picks for this Diwali. One of the picks is Equitas Small Finance Bank. The small-cap firm has seen a massive rally this year, going up over 95% in the past year. HDFC Securities estimates the stock could soar up to 112. The brokerage recommends buying the stock at ₹82-92 levels.

Apart from Equitas, the analysts at HDFC Securities suggest nine other stocks that they see being the top performers in the next year.

CompanyIndustryCurrent PricePrice Range Target Price Till Next Diwali
Dr Reddys Laboratories LtdPharmaceuticals₹5,345.35₹4,850-5,400₹6,250
Equitas Small Finance Bank LtdSmall Finance Banks₹91.35₹82-92₹112
GAIL (India) LtdGas Transmission/Marketing₹118.7₹106-120₹140
Godrej Industries LtdDiversified₹621.2₹555-624₹735
Grasim Industries LtdCement₹1,878.3₹1,700-1,925₹2,275
Gujarat Alkalies & Chemicals LtdChemicals₹712.5₹638-718₹875
Indian Oil Corporation LtdRefineries & Marketing₹88.25₹78-90₹103
Kalpataru Projects International LtdTransmission & Distribution₹649.9₹580-660₹795
Reliance Industries LtdRefineries & Marketing₹2,310.35₹2,075-2,325₹2,695
United Spirits LtdBreweries & Distilleries₹1,027.8₹915-1,040₹1,195

Last year, one of the recommendations from the firm was RVNL, which has gone up over 350% in the past year.

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Posted In: EquitiesPrice TargetMarketsAnalyst RatingsEquitas Small Finance BankGodrej IndustriesHDFC SecuritiesRail Vikas NigamReliance