Dipan Mehta, Co-founder of Paisasmart, is betting on Indian Oil Corporation, GE Vernova T&D and Garware Films as the three stock picks for Samvat 2083. He made these recommendations on the special Muhurat trading session interaction on CNBC-TV18 on Sunday, November 8.
Indian Oil Corporation is trading below its book value and stands to benefit as nearly 15 million tons of capacity and a huge petrochemical complex come on stream, according to Mehta."Massive CAPEX is getting completed in the next 3 to 4 months or so," he noted.
"And these things, once they start to scale up, I think over the next 2 years or so, I think that Indian oil can go to a different trajectory in terms of growth rate." The stock offers a 10-year average return of 12% alongside a 6% dividend yield, with brownfield expansions scheduled for the second quarter of the financial year 2027.
GE Vernova T&D also makes the cut for Samvat 2083, driven by its global leadership in high-voltage direct current transmission equipment. The company boasts a robust order book and a sharp focus on exports, making its 60-times valuation reasonable alongside expected growth of 20% to 30%.
Garware Films completes the top three, supported by strong earnings and a strategic tie-up with Lubrizol for backward integration in paint protection films, which are increasingly used in new-generation cars and architectural sun control. Shifting to the broader market, private sector banks including HDFC Bank, ICICI Bank, Axis Bank and IndusInd Bank are viewed by Mehta as tactical avoids, with advice to reduce positions on every rise.
The focus instead shifts to midsized names like IDFC First Bank, AU Small Finance Bank and multi-product non-banking financial companies such as Bajaj Finance, L&T Finance and Cholamandalam. Moneyview also presents an attractive business model, delivering 30% to 40% growth by keeping only about 30% of loans on its books and syndicating the rest.
"I think that the way the lending industry is moving, the one who owns the customer will be the winner," Mehta explained, highlighting the importance of distribution. Software services remain a complete avoid, while copper is the preferred play in the metals pack due to the electrification theme.
Hindustan Copper is undertaking massive mining capacity expansions, offering potential upside despite a historically weak execution track record. In the consumer appliances space, LG Electronics India is favoured over Voltas and Blue Star, as it emerges as an export hub with a multi-product portfolio.
The preference comes as Motilal Oswal cut its earnings per share estimates for Voltas by 8% to 11% for the financial years 2027 and 2028, setting a target price of ₹1,000 following a disappointing set of quarterly numbers. Meanwhile, in the cables and wires segment, KEI Industries and Polycab are preferred to Finolex Cables.
The solar equipment sector also offers value, with Waaree Energies and Fuji MR standing out for their strong rooftop solar businesses backed by government incentives, though Waaree has recently corrected by nearly 31% amid reports of toxic waste release.