1 / 6Brokerage firm InCred Equities has selected five stocks as its top picks for this Diwali 2025, with up to a 30% upside. These stocks include Apollo Tyres, Canara Bank, NESCO, Sandur Manganese and Premier Explosives.
2 / 6Apollo Tyres | InCred Equities has a ‘buy’ rating on the stock with a target price of ₹580, implying a potential upside of 20%. The brokerage said the company contributes around 65% of its consolidated EBIT, driven by a strong focus on the replacement tyre segment, which accounts for 65% of its India net sales. It also said that the recent GST rate cuts could lead to a 6-8% price reduction, potentially shortening replacement cycles and boosting car tyre volumes next year. Consensus estimates have been upgraded, reflecting a 2-4% increase in consolidated EBITDA and a 3-6% improvement in EPS for FY26-28, supported by better debt management and tax benefits, InCred added.
3 / 6Canara Bank | The brokerage has a ‘buy’ rating on the stock and sees a 25% upside, with a target price of ₹156 per share. It said the management’s deposit growth target of 9-10% will underpin a stable funding and liquidity structure, enabling adequate credit deployment. While the bank has guided conservatively at 90 basis points for FY26, credit costs are expected to trend lower around 80 bps, reflecting improved recoveries, lower slippages, and stable asset quality metrics, it added.
4 / 6NESCO | InCred Equities has a ‘buy’ rating on the stock with a target price of ₹1,655, implying a potential upside of 23%. The brokerage said Nesco owns and operates over 1.65 million square feet of leasable office space with nearly 100% occupancy. It is also expanding its wayside amenities business, with 11 contracted sites offering fuel, food courts, retail outlets, and vehicle services. The Tower 2 IT Park, currently under development, is expected to nearly triple the company’s existing leasable office space, it added.
5 / 6Sandur Manganese & Iron Ores | The brokerage has a ‘buy’ rating on the stock with a target price of ₹280, indicating a 30% potential upside. It said the company is pursuing new specialty steel applications (including railways, exports, defence, and EVs) and foresees improved synergy realisation through this fiscal via its integrated specialty steel capacity of 0.585 MTPA.
6 / 6Premier Explosives | InCred Equities has a ‘buy’ rating on the stock with a target price of ₹780 apiece, a 22% potential upside. The company is actively actively participating in emergency defence procurements with ₹700 crore of request for proposals (RFPs) in the pipeline, highlighting growth potential despite the inherent timeline for defence contract awards.
