Festival season has commenced in full swing in India with Ganesh Chaturthi and Onam being the latest ones. In the months ahead, the country will be celebrating several festivals like Karva Chauth, Navratri, Diwali and Christmas. Take a look at these stocks that could be added into your portfolio as the festive season gathers steam.
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New Delhi: The festive season in India has just begun and Diwali is arguably the most awaited festival of the year which is celebrated with pomp and gaiety across the country. There are several catalysts that have triggered the excitement in this festive season.
HERE ARE FIVE STOCKS* THAT YOU CAN PURCHASE AHEAD OF DIWALI
VEDANT FASHIONS LIMITED
Vedant Fashions Trading Chart (Courtesy: Tradingview)
Manyavar is one of the leading ethnic clothing companies. It is also one of the most looked upon stocks in the Diwali season as many people are undoubtedly going to purchase new clothes to wear on the occasion.
ADITYA BIRLA FASHION
Aditya Birla Fashion Trading Chart (Courtesy: Tradingview)
Just like Vedant Fashions, Aditya Birla Fashion is also one of the leading textile companies in India. If you look at the above chart, you can clearly notice there is a resistance when the price goes up to Rs 320. Even though the stock price went down to Rs 240 in July this year, a strong bounce back could be seen that even crossed the previous resistance
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SURYA ROSHNI
Surya Roshni Trading Chart (Courtesy: Tradingview)
Diwali is the festival of lights and sounds. And Surya Roshni Limited is a multinational company that exports products to over 44 countries and has a turnover of Rs 5,975 crore. They’re one of the top LED manufacturers in India. In the above chart, we can see three green candlesticks in three back to back weeks with massive volumes. If the stock price completes its one circle after a big fall that happened in Oct 2021, it will touch 800-mark.
VETO SWITCH GEARS AND CABLES LTD
Veto Switch Gears & Cables Ltd Trading chart (Courtesy: Tradingview)
This is another stock coming under electric equipment sector that has high potential for a rise. The company reported net sales of Rs 36.61 crore in June 2022, which was an increase of 56.38 per cent from Rs 23.41 crore reported in June 2021. The chart also shows that Veto Switch share prices tend to have a strong bounce back whenever it dips close to Rs 80.
RADICO KHAITAN
Radico Khaitan Trading chart (Courtesy: Tradingview)
Radico Khaitan is an alcohol producing company. As we all know, alcohol industry is not specific to any festival, it’s an evergreen one. This stock has been suggested in view of the wedding season that comes post Diwali. The chart shows that there is a strong momentum that pulls the stock price upwards whenever it goes on a dip.
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* The above stocks have been recommended by Vibhor Varshney, a SEBI registered research analyst. Investors are requested to do their own research before purchasing stocks.
