The S&P BSE Sensex on Monday rose 411 points to end at 84,363.37, while the NSE Nifty 50 gained 133 points or 0.52% to end at 25,843.
The optimistic 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 begin with the Block Deal Session from 1:15 PM to 1:30 PM, followed by the Pre-Open Session from 1:30 PM to 1:45 PM. The main normal market session runs from 1:45 PM to 2:45 PM
There will also be a Call Auction Session for illiquid stocks from 1:50 PM to 2:35 PM, and the closing session will take place between 2:55 PM and 3:05 PM. The trading change close will be at 3:15 p.m. As made clear by both BSE and NSE, trades executed during this session will have regular settlement obligations, with standard delivery and payment obligations, just like on any regular trading day. Muhurat Trading, which was first started by the BSE in 1957 and later taken over by the NSE in 1992, is closely associated with the celebration of Lakshmi Pujan during Diwali. Historically, brokers performed Chopda Pujan, a ritual worship of account books, which symbolized the auspicious beginning of a new financial year.
While its 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 private 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 associated justifications.
Royal Orchid Hotels Ltd (ROHL): | Target price: 700,-
ROHL is positioned to benefit from increasing domestic travel and a widening supply-demand gap in the Indian hospitality sector. The company aims to expand from 115 to 345 hotels by 2030 through an asset-light franchise model, targeting both luxury and budget segments. For the financial years FY25 to FY28, the company’s revenue, EBITDA and net profit are expected to grow at compound annual growth rates (CAGRs) of 24.8%, 26.2% and 23.8% respectively. EBITDA margins are expected to increase by 80 basis points to 23.7%, while net margins could decline slightly by 34 basis points to 14.4% due to higher leasing costs.
Adani Green Energy Ltd (AGEL): | Target price: Rs 2,142
AGEL is India’s largest renewable energy company and recently reached an operational capacity of 15.8 GW. Management has outlined plans to scale up to 50 GW by 2030, of which 31.5 GW will be under power purchase agreements. The company has received Rs 9,350 crore from its promoter group after converting share warrants into equity, taking the promoter stake to 62.43%. These funds will be used to pay down debt and support further capital expenditures. 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 remarkable improvement in profitability through strategic and operational changes. The merchant base increased from 40.7 million in Q1FY25 to 45 million in Q1FY26, while the gross merchandise value of payments increased from Rs 4,210 billion to Rs 5,341 billion. The number of devices deployed has increased from 10.9 million to 13 million, and UPI’s market share has also improved. The company has relaunched its ‘Paytm Postpaid’ product and expects the number of device and MTU merchants to reach 95 million and 22 million respectively by FY28. Revenue and contribution profit are expected to grow at CAGRs of 27.3% and 30.8%, reaching Rs 14,200 crore and Rs 8,208 crore, respectively. Contribution margins are expected to increase from 53.2% to 57.8%, with Paytm turning positive EBITDA post-ESOP in Q1’26. 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 is also targeting a green energy share of 60% and an EBITDA per tonne of Rs 1,500. Over FY25 to FY28, ACEM’s consolidated volume, revenue, EBITDA and net profit are expected to grow at CAGRs of 12.5%, 17.5%, 35% and 20.9% respectively, to 92.9 million tonnes, Rs 56,958 crore, Rs 14,706 crore and Rs 7,370 crore. EBITDA per tonne is expected to improve to Rs 1,584 due to cost savings 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 capitalize on the strong growth in Indian apparel retail, which is expected to rise from Rs 6,846 billion in 2024 to Rs 10,682 billion in 2027. The company plans to expand the number of stores from 510 to 660 by FY28 with capital expenditure of Rs 350 crore. Revenue is expected to grow at a CAGR of 16.1% and reach Rs 5,094 crore in FY28, driven by a 14.6% increase 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 increasing to 12.0% and net margins to 2.1%. Return on equity is expected to rise to 10.1% in FY28.
As Samvat 2082 begins, all eyes will be on how the Muhurat trading session shapes investor sentiment and sets the tone for the coming months.
Also read: Diwali Samvat 2082: Top 11 stocks from 11 leading brokers that offer up to 106% upside potential. Are you an owner?
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
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