As Indian equities continued their upward trajectory at the start of the week, attention now turns to the symbolic Muhurat Trading session scheduled for today, marking the beginning of Samvat 2082. This annual ritual, deeply rooted in market tradition, offers investors an auspicious window to initiate fresh positions for the new Hindu financial year.
The S&P BSE Sensex on Monday rose by 411 points to end at 84,363.37, while the NSE Nifty 50 gained 133 points, or 0.52%, to finish at 25,843.
The upbeat market sentiment came just ahead of the special Muhurat Trading session scheduled today, October 21, 2025, to mark the beginning of the Hindu New Year, Samvat 2082.
The BSE, National Stock Exchange (NSE), and Multi Commodity Exchange (MCX) will all participate in this symbolic trading window, a long-standing tradition rooted in Indian financial customs.
The Muhurat session will commence with the Block Deal Session from 1:15 p.m. to 1:30 p.m., followed by the Pre-Open Session from 1:30 p.m. to 1:45 p.m. The main Normal Market Session will run from 1:45 p.m. to 2:45 p.m.
There will also be a Call Auction Session for illiquid stocks from 1:50 p.m. to 2:35 p.m., and the Closing Session will take place between 2:55 p.m. and 3:05 p.m. The trade modification cut-off will be at 3:15 p.m.
As clarified by both BSE and NSE, trades conducted during this session will carry regular settlement obligations, with standard delivery and payment duties in place, just like on any regular trading day.
Muhurat Trading, which was first initiated by the BSE in 1957 and later adopted by the NSE in 1992, is closely linked with the celebration of Lakshmi Pujan during Diwali. Historically, brokers would perform Chopda Pujan, a ritualistic worship of account books, symbolizing the auspicious beginning of a new financial year.
Although the religious and cultural significance may vary among investors today, the symbolic importance of the event continues to resonate across the Indian trading community, attracting both retail and institutional participation.
As part of the Muhurat trading season, Vinit Bolinjkar, Head of Research at Ventura, has recommended five stocks with a buy rating and corresponding justifications.
Royal Orchid Hotels Ltd (ROHL): | Target price: Rs 700
ROHL is positioned to benefit from rising domestic travel and a widening demand-supply gap in India’s hospitality sector. The company is targeting an expansion from 115 to 345 hotels by 2030 through an asset-light franchisee model, catering to both upscale and budget segments. For the financial years FY25 to FY28, the company’s revenue, EBITDA, and net earnings are projected to grow at compounded annual growth rates (CAGRs) of 24.8%, 26.2%, and 23.8% respectively. EBITDA margins are expected to rise by 80 basis points to 23.7%, while net margins may decline slightly by 34 basis points to 14.4% due to increased lease expenses.
Adani Green Energy Ltd (AGEL): | Target price: Rs 2,142
AGEL is India’s largest renewable energy firm and has recently reached 15.8 GW in operational capacity. The management has outlined plans to scale up to 50 GW by 2030, with 31.5 GW of that under Power Purchase Agreements. The company has received Rs 9,350 crore from its promoter group after converting share warrants into equity, raising promoter holding to 62.43%. These funds will be used to repay debt and support further capital expenditure. Over FY25 to FY28, AGEL’s revenue, EBITDA, and net profit are expected to grow at CAGRs of 31.9%, 32.9%, and 58% respectively, with EBITDA margins improving by 195 basis points to 81.1% and net margins increasing by 927 basis points to 22.1%.
One 97 Communications Ltd (Paytm): | Target price: Rs 2,074
Paytm has shown notable improvement in profitability through strategic and operational changes. Its merchant base rose from 40.7 million in Q1FY25 to 45 million in Q1FY26, while payment gross merchandise value increased from Rs 4,210 billion to Rs 5,341 billion. The number of devices deployed jumped from 10.9 million to 13 million, and UPI market share has also improved. The company relaunched its ‘Paytm Postpaid’ product and expects the device merchant base and MTUs to reach 95 million and 22 million respectively by FY28. Revenue and contribution profit are projected to grow at CAGRs of 27.3% and 30.8%, reaching Rs 14,200 crore and Rs 8,208 crore respectively. Contribution margins are forecasted to rise from 53.2% to 57.8%, with Paytm turning post-ESOP EBITDA positive in Q1FY26. By FY28, post-ESOP EBITDA is expected at Rs 2,164 crore and net profit at Rs 2,138 crore, compared to FY25 losses of Rs 1,543 crore and Rs 659 crore.
Ambuja Cement Ltd (ACEM): | Target price: Rs 794
Ambuja Cement is expanding its production capacity from 67.5 MTPA in 2022 to 105 MTPA by June 2025, with plans to reach 140 MTPA by 2028. The company also targets a 60% green energy share and an EBITDA per ton of Rs 1500. Over FY25 to FY28, ACEM’s consolidated volume, revenue, EBITDA, and net earnings are expected to grow at CAGRs of 12.5%, 17.5%, 35%, and 20.9% respectively, reaching 92.9 million tons, Rs 56,958 crore, Rs 14,706 crore, and Rs 7,370 crore. EBITDA per ton is forecasted to improve to Rs 1,584 due to cost reductions and better operating leverage. Net margins are expected to improve by 107 basis points to 12.9%.
V-Mart Retail Ltd: | Target price: Rs 1,069
V-Mart is poised to benefit from strong growth in India’s apparel retail sector, which is projected to rise from Rs 6,846 billion in 2024 to Rs 10,682 billion by 2027. The company plans to increase its store count from 510 to 660 by FY28 with a capital expenditure of Rs 350 crore. Revenue is expected to grow at a CAGR of 16.1%, reaching Rs 5,094 crore by FY28, driven by a 14.6% rise in units sold and improved average selling prices. EBITDA and net profit are expected to grow at CAGRs of 16.6% and 33.7% respectively, with EBITDA margins rising to 12.0% and net margins to 2.1%. Return on equity is forecasted to rise to 10.1% by FY28.
As Samvat 2082 begins, all eyes will be on how the Muhurat trading session shapes investor sentiment and sets the tone for the months ahead.
Also read: Diwali Samvat 2082: Top 11 stocks from 11 leading brokerages offering up to 106% upside. Do you own?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The S&P BSE Sensex on Monday rose by 411 points to end at 84,363.37, while the NSE Nifty 50 gained 133 points, or 0.52%, to finish at 25,843.
The upbeat market sentiment came just ahead of the special Muhurat Trading session scheduled today, October 21, 2025, to mark the beginning of the Hindu New Year, Samvat 2082.
The BSE, National Stock Exchange (NSE), and Multi Commodity Exchange (MCX) will all participate in this symbolic trading window, a long-standing tradition rooted in Indian financial customs.
The Muhurat session will commence with the Block Deal Session from 1:15 p.m. to 1:30 p.m., followed by the Pre-Open Session from 1:30 p.m. to 1:45 p.m. The main Normal Market Session will run from 1:45 p.m. to 2:45 p.m.
There will also be a Call Auction Session for illiquid stocks from 1:50 p.m. to 2:35 p.m., and the Closing Session will take place between 2:55 p.m. and 3:05 p.m. The trade modification cut-off will be at 3:15 p.m.
As clarified by both BSE and NSE, trades conducted during this session will carry regular settlement obligations, with standard delivery and payment duties in place, just like on any regular trading day.
Muhurat Trading, which was first initiated by the BSE in 1957 and later adopted by the NSE in 1992, is closely linked with the celebration of Lakshmi Pujan during Diwali. Historically, brokers would perform Chopda Pujan, a ritualistic worship of account books, symbolizing the auspicious beginning of a new financial year.
Although the religious and cultural significance may vary among investors today, the symbolic importance of the event continues to resonate across the Indian trading community, attracting both retail and institutional participation.
As part of the Muhurat trading season, Vinit Bolinjkar, Head of Research at Ventura, has recommended five stocks with a buy rating and corresponding justifications.
Royal Orchid Hotels Ltd (ROHL): | Target price: Rs 700
ROHL is positioned to benefit from rising domestic travel and a widening demand-supply gap in India’s hospitality sector. The company is targeting an expansion from 115 to 345 hotels by 2030 through an asset-light franchisee model, catering to both upscale and budget segments. For the financial years FY25 to FY28, the company’s revenue, EBITDA, and net earnings are projected to grow at compounded annual growth rates (CAGRs) of 24.8%, 26.2%, and 23.8% respectively. EBITDA margins are expected to rise by 80 basis points to 23.7%, while net margins may decline slightly by 34 basis points to 14.4% due to increased lease expenses.
Adani Green Energy Ltd (AGEL): | Target price: Rs 2,142
AGEL is India’s largest renewable energy firm and has recently reached 15.8 GW in operational capacity. The management has outlined plans to scale up to 50 GW by 2030, with 31.5 GW of that under Power Purchase Agreements. The company has received Rs 9,350 crore from its promoter group after converting share warrants into equity, raising promoter holding to 62.43%. These funds will be used to repay debt and support further capital expenditure. Over FY25 to FY28, AGEL’s revenue, EBITDA, and net profit are expected to grow at CAGRs of 31.9%, 32.9%, and 58% respectively, with EBITDA margins improving by 195 basis points to 81.1% and net margins increasing by 927 basis points to 22.1%.
One 97 Communications Ltd (Paytm): | Target price: Rs 2,074
Paytm has shown notable improvement in profitability through strategic and operational changes. Its merchant base rose from 40.7 million in Q1FY25 to 45 million in Q1FY26, while payment gross merchandise value increased from Rs 4,210 billion to Rs 5,341 billion. The number of devices deployed jumped from 10.9 million to 13 million, and UPI market share has also improved. The company relaunched its ‘Paytm Postpaid’ product and expects the device merchant base and MTUs to reach 95 million and 22 million respectively by FY28. Revenue and contribution profit are projected to grow at CAGRs of 27.3% and 30.8%, reaching Rs 14,200 crore and Rs 8,208 crore respectively. Contribution margins are forecasted to rise from 53.2% to 57.8%, with Paytm turning post-ESOP EBITDA positive in Q1FY26. By FY28, post-ESOP EBITDA is expected at Rs 2,164 crore and net profit at Rs 2,138 crore, compared to FY25 losses of Rs 1,543 crore and Rs 659 crore.
Ambuja Cement Ltd (ACEM): | Target price: Rs 794
Ambuja Cement is expanding its production capacity from 67.5 MTPA in 2022 to 105 MTPA by June 2025, with plans to reach 140 MTPA by 2028. The company also targets a 60% green energy share and an EBITDA per ton of Rs 1500. Over FY25 to FY28, ACEM’s consolidated volume, revenue, EBITDA, and net earnings are expected to grow at CAGRs of 12.5%, 17.5%, 35%, and 20.9% respectively, reaching 92.9 million tons, Rs 56,958 crore, Rs 14,706 crore, and Rs 7,370 crore. EBITDA per ton is forecasted to improve to Rs 1,584 due to cost reductions and better operating leverage. Net margins are expected to improve by 107 basis points to 12.9%.
V-Mart Retail Ltd: | Target price: Rs 1,069
V-Mart is poised to benefit from strong growth in India’s apparel retail sector, which is projected to rise from Rs 6,846 billion in 2024 to Rs 10,682 billion by 2027. The company plans to increase its store count from 510 to 660 by FY28 with a capital expenditure of Rs 350 crore. Revenue is expected to grow at a CAGR of 16.1%, reaching Rs 5,094 crore by FY28, driven by a 14.6% rise in units sold and improved average selling prices. EBITDA and net profit are expected to grow at CAGRs of 16.6% and 33.7% respectively, with EBITDA margins rising to 12.0% and net margins to 2.1%. Return on equity is forecasted to rise to 10.1% by FY28.
As Samvat 2082 begins, all eyes will be on how the Muhurat trading session shapes investor sentiment and sets the tone for the months ahead.
Also read: Diwali Samvat 2082: Top 11 stocks from 11 leading brokerages offering up to 106% upside. Do you own?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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