Samvat 2083 begins with Diwali muhurat trading on November 8, and PL Capital has released its top large-cap picks for the new year. The list includes Bharat Electronics (BEL), Britannia Industries, ICICI Bank and Shriram Finance.
The market has been volatile. The Nifty 50 tested the 22,300 level twice in the past six months.
Bharat Electronics
BEL closed 0.16% higher at Rs 395.50 on BSE on Friday, November 6, with a market capitalisation of Rs 2,89,101.75 crore. PL Capital has a Buy rating and a target price of Rs 490.
The firm says BEL’s strong order book will provide healthy execution visibility. It expects QRSAM orders shortly and believes BEL is well positioned to retain its role, given its decade-long development experience.
Britannia Industries
Britannia closed at Rs 4,790 on BSE on the same day, with a market capitalisation of Rs 1,15,375.91 crore. The stock has returned 5.33% in two weeks but declined 20.28% in one year.
PL Capital calls Britannia a high-conviction pick and has a Buy rating with a target price of Rs 6,579. It points to leadership in biscuits and bakery and sustained growth in signature brands, which grew three times faster than the rest of the portfolio in FY26. The firm also cites improving scalability and profitability and a robust innovation pipeline.
ICICI Bank
ICICI Bank closed 4.65% higher at Rs 1,569 on BSE, with a market capitalisation of Rs 11,26,722.63 crore. The stock has returned 18.83% in one year and 65.99% in three years.
PL Capital says the bank’s earnings quality has helped it retain a top position among private sector banks. It highlights a strong balance sheet, with CET-1 at an adequate 16%, resilient margins and strong NII and fee income. The firm has a Buy rating and a target price of Rs 1,900.
Shriram Finance
Shriram Finance closed 0.40% lower at Rs 960 on Friday, with a market capitalisation of Rs 2,25,896.33 crore. The NBFC has returned 10.73% in two weeks, 21% in one year and around 50.78% in two years.
PL Capital sees a long-term growth opportunity supported by structurally higher AUM growth. It expects AUM CAGR of about 18% over FY26-29E, driven by healthy vehicle financing demand and expansion of the non-VF portfolio. The firm has a Buy rating and a target price of Rs 1,200.
These ratings and target prices are PL Capital’s own views, as reported above.
The call, as given by the analyst
| Analyst | Firm | SEBI registration | Instrument | View | Target | Stop-loss | Analyst interest disclosed |
|---|---|---|---|---|---|---|---|
| PL Capital | INH000000271 | Bharat Electronics Limited (BEL) | BUY | 490 | – | Not stated in source | |
| PL Capital | INH000000271 | Britannia Industries | BUY | 6579 | – | Not stated in source | |
| PL Capital | INH000000271 | ICICI Bank | BUY | 1900 | – | Not stated in source | |
| PL Capital | INH000000271 | Shriram Finance | BUY | 1200 | – | Not stated in source |
Disclosure: This article reports the views of the named analyst or research firm. They are theirs, not MyFinanceBandhu recommendations. MyFinanceBandhu is not a SEBI-registered investment adviser or research analyst and does not give investment advice. The author and MyFinanceBandhu hold no position in the instrument discussed. Past performance does not predict future results. Check the analyst registration on SEBI’s website before acting. Source: original report.
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