Share Khan, in its report, said that the correction in the broader markets has been quite severe in the last one year. The brokerage also said that in troubled times, it is the quality companies with reputed management, strong balance sheet and healthy growth trend that perform well. On the other hand, it is once again proven that chasing momentum stocks could be quite a risky proposition, the report added.

So essentially it means that one needs to stick to basics. Invest in quality companies with a healthy growth outlook and reasonable valuations is the mantra according to Share Khan.

[caption id="attachment_4538351" align="aligncenter" width="1220"]<img class="size-full wp-image-4538351" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/Sharekhan-Atul.jpg" alt="Sharekhan Atul" width="1220" height="659" /> Headquartered in Gujarat, Atul’s businesses are broadly classified into two segments i) life science chemicals and ii) performance and other chemicals. It is an integrated chemical company with a diverse product portfolio that caters to customers across the globe.[/caption]

[caption id="attachment_4538361" align="aligncenter" width="1219"]<img class="size-full wp-image-4538361" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/Sharekhan-bata.jpg" alt="Sharekhan bata" width="1219" height="697" /> Bata India is India’s largest retailer and manufacturer of footwear, selling about 47 million pairs of footwear every year.[/caption]

[caption id="attachment_4538721" align="aligncenter" width="1221"]<img class="size-full wp-image-4538721" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharehkhan-colgate.jpg" alt="sharehkhan colgate" width="1221" height="712" /> Colgate Palmolive is India’s largest-selling toothpaste brand with an almost 50 percent market share.[/caption]

[caption id="attachment_4538731" align="aligncenter" width="1213"]<img class="size-full wp-image-4538731" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-hcl.jpg" alt="sharekhan hcl" width="1213" height="680" /> HCL Technologies is a leading global technology company that provides software-led IT solutions, remote infrastructure management, and BPO services and engineering-related services.[/caption]

[caption id="attachment_4538741" align="aligncenter" width="1215"]<img class="size-full wp-image-4538741" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-icici.jpg" alt="sharekhan icici bank" width="1215" height="668" /> ICICI Bank is engaged in providing a wide range of banking and financial services including retail banking, corporate banking, and treasury operations.[/caption]

[caption id="attachment_4538751" align="aligncenter" width="1221"]<img class="size-full wp-image-4538751" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-kotak.jpg" alt="sharekhan kotak bank" width="1221" height="668" /> Kotak Mahindra Bank provides a full suite of banking services to its customers encompassing retail banking, treasury and corporate banking in India.[/caption]

[caption id="attachment_4538761" align="aligncenter" width="1219"]<img class="size-full wp-image-4538761" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-LT.jpg" alt="sharekhan L&amp;T" width="1219" height="675" /> Larsen &amp; Toubro (L&amp;T) is the best play on the recovery in the domestic capex cycle. The company is a major technology, engineering, construction, manufacturing, and financial services conglomerate.[/caption]

[caption id="attachment_4538771" align="aligncenter" width="1216"]<img class="size-full wp-image-4538771" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-mgl.jpg" alt="sharekhan mgl" width="1216" height="645" /> Mahanagar Gas is a dominant city gas distribution player in and around Mumbai with CNG/PNG sales volumes of 2.2 mmscmd/0.8 mmscmd in FY2019. MGL derives 73 percent of its volumes from CNG, 13 percent from domestic PNG and the remaining 14 percent from commercial/industrial PNG.[/caption]

[caption id="attachment_4538781" align="aligncenter" width="1219"]<img class="size-full wp-image-4538781" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-polycab.jpg" alt="sharekhan polycab" width="1219" height="632" /> Polycab India is the largest manufacturer of wires and cables in India with a market share of about 18 percent in the organised wires and cables industry and a 12 percent overall share, twice the size of its leading competitors.[/caption]

[caption id="attachment_4538791" align="aligncenter" width="1233"]<img class="size-full wp-image-4538791" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-reliance.jpg" alt="sharekhan reliance" width="1233" height="675" /> Reliance Industries is a diversified company with business interests across oil refining, petrochemicals, retail, and digital services. The core businesses of refining and petrochemicals accounted for about 69 percent of consolidated EBITDA in FY2019.[/caption]

[caption id="attachment_4538801" align="aligncenter" width="1235"]<img class="size-full wp-image-4538801" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-spandana.jpg" alt="sharekhan spandana" width="1235" height="701" /> Spandana Sphoorty Financials Limited (SSFL) is a non-banking financial company (NBFC) focusing on the microfinance segment. SSFL is a strong NBFC-MFI, better placed in terms of business quality (strong risk management and diversified book), which provides comfort on future asset quality trends.[/caption]

[caption id="attachment_4538811" align="alignleft" width="1223"]<img class="size-full wp-image-4538811" src="https://images.cnbctv18.com/wp-content/uploads/2019/10/sharekhan-ultratech.jpg" alt="sharekhan ultratech" width="1223" height="691" /> UltraTech Cement is India’s largest cement company[/caption]

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These 12 Diwali stocks recommended by Share Khan will light up your portfolio

By Mousumi Paul Oct 22, 2019 9:46:12 AM IST (Updated)

SUMMARY

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