As we approach Diwali, domestic brokerage firm Nirmal Bang Institutional Equities picked 10 stocks for the Samvat 2082. Its stock picks are spread across major consumption led sectors like e-commerce, electronics, FMCG, defence, banking and automobile including others. Its top picks have names like State Bank of India, Mahindra & Mahindra, Swiggy, HAL and others.

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State Bank of India

With a total balance sheet/loan book size of R s66.8 trillion/Rs 41.6 trillion as of FY25, SBI is the biggest bank in India. The bank's loan book has increased at a CAGR of 12.3% for FY15–FY25; from FY25–FY27E, we anticipate the loan book CAGR to be 11.8%. We estimate FY27E ROE at 15%, supported by 11.8%/9.7% loan/earnings CAGR. We maintain ‘BUY’ on SBI with a target price of Rs 1,040 based on

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