The Indian stock market in the October-November period sees high trading activity due to increased consumer spending, festive demand, upbeat sentiment, renewed investor confidence, and the auspicious Muhurat trading session. This impacts many stocks and sectors in the festive season.
In this article, we will explore the top stocks that outperform around Diwali, typically during October-November.
Mahindra & Mahindra Ltd (M&M)
Mahindra & Mahindra Ltd (M&M) is a leading automobile and farm equipment manufacturer in India. It has a strong brand presence and reach in multiple markets in India, making it a well-known household name.
During the Diwali season, many Indian families consider buying a vehicle as an auspicious activity, and Mahindra & Mahindra Ltd (M&M), being a leading manufacturer, significantly benefits from this cultural trend and increased consumer spending.
This makes Mahindra & Mahindra Ltd (M&M) an attractive stock in the Diwali Muhurat Trading session.
During the last Diwali season, the stock price of Mahindra & Mahindra (M&M) on Nifty 50 jumped from ₹2,707+ in October to ₹3,045+ in November 2024, giving a return of 12.48%.
Indian Hotels Company
Indian Hotels Company Ltd (IHCL) is the hospitality branch of the Tata Group. It is one of India's most trusted hotel chains, and its Taj brand is known worldwide for luxury, service, and heritage.
During the festive and holiday season in India, more people want to travel, enjoy tourism, and stay in hotels. This time sees a rise in festive gatherings, destination weddings, and leisure trips. As a result, the company’s revenues grew significantly during this period.
With India’s travel and tourism industry growing and IHCL’s strong brand presence in luxury and business travel, the stock is an appealing option for investors during the festive quarter and the Diwali Muhurat Trading session.
During Diwali 2024, IHCL’s stock price increased from ₹656+ in October to ₹799+ in November, a return of almost 22%. This rise shows strong interest from investors and seasonal support.
Ethos
Ethos Ltd, one of India's top luxury watch retailers, has built a strong presence in the premium lifestyle market with its selected range of international watch brands and exclusive boutiques across the country.
During the Diwali and wedding season in India, purchases of premium and luxury products often increase. Especially watches, because they are seen as both lifestyle accessories and valuable gifts.
Ethos, with its strong brand partnerships and nationwide reach, gains from this seasonal boost in consumer spending. Ethos' stock price rose from ₹2,577+ in October to ₹3,166+ in November last year. It gave a 22.85% return during these months.
Page Industries Ltd
Page Industries Ltd. is among India's leading apparel manufacturers, with the exclusive license to manufacture the Jockey and Speedo brands in India.
With Diwali and the wedding season, demand for apparel and casual wear tends to rise, especially in urban and semi-urban markets, leading to an increase in sales for Page Industries during the October-November period.
Page's dominant market position, steady financial performance, and focus on expanding its organised retail ecosystem strengthen it to continue maintaining its strong growth momentum in 2025 and beyond. The stocks gave a 12.95% return in the last year, between October to November, rising from around ₹42,493+ to ₹48,000+.
InterGlobe Aviation Ltd
InterGlobe Aviation Ltd, known by its airline brand IndiGo, is the largest passenger airline in India. It holds a significant share of the domestic aviation market in India.
During the festive and holiday season, air travel in India usually increases as families travel for celebrations, weddings, and vacations. IndiGo benefits directly from this seasonal rise in demand due to its extensive connectivity and strong brand recognition.
With a growing fleet capacity and high demand during the festive season, InterGlobe Aviation is an appealing stock choice for investors during Diwali. IndiGo’s stock price rose from ₹4,015+ in October to ₹4,378+ in November last year. It gave a 9.05% return during these months.
Final Thoughts
Diwali brings with it optimism, consumer spending, and strong market sentiment. While there are always some stocks on Sensex and other indexes that do well during the festive season, investors should take a balanced approach to these opportunities.
To make smart investment decisions, combine tradition with discipline. Focus on building a portfolio of strong companies that can grow your wealth over time. Remember, Diwali is not just about quick profits; it’s about securing your financial future.
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