Samvat 2080: ICICI Bank, Maruti Suzuki among top 5 Diwali 2023 stock ideas by SBI Securities

As we reach the end of Samvat 2079, a look back shows Indian benchmark indices witnessed a roller ride and have marginally underperformed their emerging and developed market peers, according to a research report by SBI Securities. While Nifty50 delivered returns of 7.6% in the nearly 1-year period between October 2022 and October 2023, Sensex has risen 6.8%. Broader markets, however, delivered strong returns across the board with Nifty Smallcap 250 and Nifty Midcap 100 index having delivered 28.3% and 26% returns, respectively.

India's second-largest private sector bank currently operates a network of 6,248 branches as of September 2023 along with ATMs and CRM networks of 16,927. Retail book comprises 55% of overall loan book. The bank owns a few marquee businesses like life insurance, general Insurance, stock broking and AMC through its subsidiaries.

India’s leading passenger car maker has over 4 decades of experience in the Indian automobile industry. The company also exports its products to more than 90 countries.

Largest cement manufacturer in India has a 25% market share with total pan India installed grey cement capacity of 132.5 MTPA as on 2QFY24. It also sells building material and has captive limestone and coal reserves which helps in lowering cost of production.

India’s largest cable and wire manufacturing company also manufactures and sells FMEG (Fast Moving Electrical Goods) products such as electric fans, LED lighting and luminaires, switches and switchgear, solar products and conduits & accessories.

One of India’s largest jewellery companies, its product basket includes a wide range of gold, studded and other jewellery products across price points and caters to multiple use cases ranging from special occasions such as weddings to daily wear.

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